Online gambling will begin operating in Argentina’s two most populous areas on December 9.
Argentina.- In just two weeks, online gaming will begin in the Province of Buenos Aires and in Argentina’s capital, the Autonomous City of Buenos Aires. Already legal in 12 provinces in Argentina, online gaming will be permitted in the country’s two most populous regions from December 9.
The gaming sector predicts the new business will be worth at least $100bn Argentine pesos (US$900m) a year and could reach 200bn Argentine pesos (US$1.9bn) in the near future. In the Province, seven companies have obtained 15-year licences, while in the capital there is no limit on participation. Each operator must have a local partner and foreign counterpart.
Of the seven companies authorised to operate in the province, four have already signed the corresponding agreements. One of those is BetWarrior, belonging to the Hipodromo de Palermo racecourse and the Buenos Aires Casino. It plans to launch a mobile application before the end of the year. Its national partner is Binaires and its foreign partner the Greek group Intralot.
The local company Boldt, which already operates in Santa Fe, has reached an agreement to place the logo of its brand Bplay on the shirts of the Estudiantes de La Plata and Vélez Sarsfield football clubs for the next 12 months. Its foreign partner is 888, part of London Stock Exchange-listed 888 Holdings PLC.
William Hill‘s “ArgentBingo” has also obtained a licence. Its local partner is Bingo Moreno. The fourth confirmed operator is the UK’s Bet365, with Bingo Berazategui as a local partner. The companies that have yet to sign agreements are: Playtech, in association with the Casino de Tandil; Pokerstars, partnered with Chivilcoy Bingo, and Betsson with Casino Victoria.
As for the City of Buenos Aires, the Spanish company Codere has been authorised to operate and has also reached an agreement to become shirt sponsor of Club Atlético River Plate. There’s also Super7, a group from the Argentine province of Tucuman, BetWarrior, and Bplay.
In the bidding process, companies had to pay $5.5m Argentine pesos to apply and will have to pay a fixed fee of $65 Argentine pesos plus 10 per cent royalties and 15 per cent gross income tax.
The Argentine 12 provinces where online gambling already operates are: Mendoza, Santa Fe, Corrientes, Chaco, Misiones, San Luis, Tucumán, Entre Ríos, La Pampa, Neuquén, Río Negro and Santa Cruz.