Buenos Aires Province awards iGaming licenses to 7 companies
Seven online gambling licenses were awarded to gaming companies in Buenos Aires Province, including brands owned and operated by Betsson and William Hill. These licenses were given out by the President of the Buenos Aires’ Provincial Institute of Lotteries and Casinos on 31 December 2020.
A few of the newly awarded licenses went to industry leaders who are releasing new brands in that area. Argenbingo was awarded a license, the site will launch in partnership with William Hill. Playtech also received a license for Hotel Casino Tandil, while 888 Holdings was given a license for Boldt. Some other brands like Betsson (in partnership with Casino de Victoria) and Flutter Entertainment (with Atlantica de Juegos) will be receiving a license towards the start of 2021.
The licenses awarded by the President of the Buenos Aires’ Provincial Institute of Lotteries and Casinos carry strict regulations that must be agreed to:
First of all, licensees have to pay a single fee of AR$65m (£565,000) with 25% gross revenue tax. They must later present a compliance guarantee within 10 days that will prove their will to fall in line with the provincial regulations. In order 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.
For international companies to acquire a license in this province, a local person or company must hold a 15% stake in the operation. Acquiring a license is surely not a simple process. Affiliates should definitely keep an eye on new opportunities arising in 2021.