Buenos Aires’ online gambling regulation is nearing as the Argentinian province’s local regulator, Instituto Provincial Lotería y Casinos (IPLyC), has revealed new developments about the matter.
IPLyC has disclosed that there are seven preferred bidders for the province’s iGaming and digital betting licenses. The names of the bidders were revealed on the Buenos Aires executive gazette and they are the following: ArgenBingo BA and William Hill, Pasteko SA and bet365, Hotel Casino Tandil and Playtech, Boldt SA and 888, Atlántica de Juegos and Flutter, Binbaires SA and Intralot and Casino de Victoria and Betsson.
Buenos Aire’s move to regulate online gambling started in late 2018 with the passing of Decree 181. The decree calls for the introduction of rules and regulations that enable interested ventures to apply and obtain licenses from the province’s regulator and hence operate in a regulated environment. The decree also tasks the IPLyC with the issuance of up to seven online gambling and betting licenses and their monitoring. The IPLyC is also tasked with ensuring that the license owners and their respective businesses are taxed at 5% on turnover.
The province’s legalisation of online gambling was fast-tracked in early 2019 but was put on hold due to changes in Buenos Aires’s political landscape. There were no new nor any developments until late last year when IPLyC finally disclosed the names of the approved iGaming and online betting candidates.
The Buenos Aires gambling regulator also revealed late last year that there were 14 license applicants consisting of partnerships made by local and foreign gambling operators. Spanish operators Luckia and Codere and LatAm betting operator BetCris were among the notable candidates who did not receive regulatory approval to operate in the province.
IPLyC plans to have its new online casino and betting market up and running before Buenos Aires’ online gambling market regulation. To be given licenses, the gambling regulator has informed the seven candidates that they will have 10 days from December 31 to offer compliance guarantees. On top of that, the candidates are also required to pay ARS65 million (£565,000) as a license fee.
Though the IPLyC is working to hasten and finalize the licensing process, local politics may play another part in slowing it down. Buenos Aires’ local news outlets have reported that the province’s current governor, Axel Kicillof, could hamper the province’s regulation as the governor is reported to be dissatisfied with his predecessor’s, Maria Eugenia Vidal’s, drafted gambling laws and welfare fund commitments