Online gaming in Buenos Aires draws major interest

There are already 12 companies interested in operating online gaming in Buenos Aires after the segment was legalised.

Argentina.- The Buenos Aires province approved online gambling in the Legislature. That way, alongside the City of Buenos Aires, they make the largest region in Argentina to offer regulated online gaming. Such an attractive market has already been noticed and both foreign and local companies are pushing to enter.

Recently, regulator IPLyC posted a list of companies that will bid for a licence for online gaming in Buenos Aires. Over the last few days, new ones appeared and there are already 12 projects filed with the authorities. However, only seven of them will receive the permit, as that’s the limit set by lawmakers.

The last company to show interest was Spain’s Luckia Gaming Group, after thriving in Colombia. They will bid for a licence together with local Emprendimientos Crown SA.

Costa Rican company TV Global Enterprises Ltd (Betcris) de Costa Rica, which is licenced in Malta, is also bidding. They have partnered with Argentina’s Impresora internacional de valores S.A.I.C. (IVISA).

The legalisation

The approval came through its inclusion within Buenos Aires province’s Tax Law for the 2019 budget. Despite being heavily criticised, it continues to move forward and will include several games.

The approved scheme involves slot and casino games, lotteries, bets on virtual games, horse racing and sports events. Up to seven licences will be issued, but “no more than one per bidder.” Companies would have to register and will be (or not) approved by a commission, which will assess their offers. There are 20 minimum requirements to be fulfilled, including experience, financial and technical soundness, data safety, and others.

“What we want is to tax online gaming in Argentina,” the government said. They hope to launch a regulated segment in order to stop it from operating in a legal void.