Buenos Aires’ IPLyC has granted online gambling licenses to seven international brands who will be partnering with local operators in the province. There’s however no information about when the games will begin.
The Capital of Argentina, Buenos Aires has finally wrapped up its lengthy yearlong evaluation process for online gambling and has officially spelled out licenses that are going to be awarded to operators in the province. The province’s regulatory body, Buenos Aires Provincial Institute of Lottery and Gambling (IPLyC) under the able leadership of newly elected president, Omar Galdurralde has been spearheading the matter and forwarded the final shortlist for publication by the Official Gazette of the Republic of Argentina (Boletín Oficial de la República Argentina on New Year’s Eve.
Buenos Aires opened the bidding wars close to two years ago and 19 gaming companies from different parts of the globe threw their hats in the ring. The number was later snipped to 14, before IPLyC ultimately slashed it by half to a total of seven operators. Each of the selected licensees for Argentina’s capital will be operating alongside local partners within the province who hold at least a 15% stake in the overall business. The approved teamups are;
Some of the gaming companies which missed the cut include the likes of Betway, a Malta-based global gaming bigwig, Luckia (Grupo EGASA) and Codere from Spain, Italy’s Sisal and Betcris, a Latin American topdog also based in Malta. It’s also worth noting that initially, Flutter Entertainment had also won the bid for entry into the largest province in Argentina via its Paddy Power Betfair brand ahead of Betsson which was subsequently the eighth operator on the shortlist. However, after Flutter acquired the Stars Group, the company decided to withdraw its Paddy Power Betfair application and as a result, Betsson was bumped up to the seventh position.
When Will the Licensees Launch Operations in Buenos Aires?
However, as refreshing as the news is for Argentina’s most populous province, there’s still no indication of when the seven operators might launch their operations. Nevertheless, IPLyC announced that all the approved candidates for entry into the local market have a 10-day window to submit compliance guarantees from the day of the gazette notice, i.e. the 31st of December 2020. Additionally, every licensed foreign operator together with its local partner is required to part with a ‘single fixed charge’ of 65 million Argentine Dollars (770,000 USD). As for the taxation, the licensed online gambling operators will be paying a 5% turnover which was approved last November by federal legislators. Initially, Buenos Aires had demanded an online gaming tax rate of 25% of gross gaming revenue.
These newly awarded licenses give the operators mandate to offer a full slate of online casino and sports betting products together with lottery options and even virtual sports, but prop wagers on politics are prohibited. The Provincial Directorate of Administration in Buenos Aires will be working with the IPLyC to supervise the iGamig operations.
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