The Argentinean capital of Buenos Aires has revamped its gambling framework, giving the South American nation its first ever gambling code.
Last December, BA districts approved Decree 181 of the 2019 Budget Law, allowing for seven BA online gambling licenses to be granted, servicing sports betting, online casino, poker and horseracing provisions.
Overseen by the ‘IPLyC – Argentine Provinces Board for Lotteries and Casinos’, the BA province will begin its licensing process for its initial seven online licensees.
Argentine news sources report that IPLyC has set a qualifying criteria of 20 minimum requisites for interested parties to secure licensing – including disclosure of financial liquidity, industry experience and a number data/security provision.
International enterprises will be allowed to compete for BA licenses, but will be required to maintain a physical business presence within BA province.
Despite progress on its gambling agenda, the BA executive added a number of final modifications to the decree, implementing a new tax policy for online gambling.
BA will maintain its previously approved 15% tax on online gambling revenues but will add a further 8% tax charge on individual product verticals combined with a 2% levy covering BA licensing provisions and costs.
A key directive of BA Governor María Eugenia Vidal (Argentina PRO), the majority of online gambling taxes will be used to fund BA’s ‘FIDES – Social Development & Integration Fund’.
Although Governor Vidal passes Decree 181, the BA online gambling framework is set to be contested by the governances of the Superliga and Argentine FA (AFA) – who this March demanded that President Mauricio Macri suspend the motion.
The governing bodies of Argentine football, have insisted that they will place an injunction on Decree 181,unless Vidal and Argentina PRO redraft the gambling mandate, installing rewards for football clubs.