Online gambling licenses in Buenos Aires Province have been awarded to 7 gaming companies including brands owned by Betsson and William Hill. These licenses were awarded on 31 December 2020 by the President of the Buenos Aires’ Provincial Institute of Lotteries and Casinos.
Exciting partnerships coming in 2021
Some of the newly awarded licenses were given to industry leaders who are launching new brands in this area. Argenbingo was awarded a license and this site will launch in partnership with William Hill. Playtech was awarded a license for Hotel Casino Tandil and 888 Holdings received a license for Boldt.
Other brands to receive a license at the beginning of 2021 include Betsson in partnership with Casino de Victoria and Flutter Entertainment with Atlantica de Juegos.
Strict regulations in place
The licenses awarded by the President of the Buenos Aires’ Provincial Institute of Lotteries and Casinos come with strict regulations that must be agreed to. Firstly, licensees must pay a single fee of AR$65m (£565,000) with 25% gross revenue tax.
Within 10 days, they must then present a compliance guarantee that proves that they are willing to fall in line with the provincial regulations. To meet these regulations, operations must be carried out by a legal person, a human or a public and private entity with a registered address in Buenos Aires.
In order for international companies to obtain a license in this province, a local person or company must hold a 15% stake in the operation,
With leading brands launching in Buenos Aires, this is certainly a province to watch. Obtaining a license isn’t an easy process but others could soon follow suit. Affiliates should pay attention to any new opportunities coming their way in 2021.