SBC News Argentina PRO secures Buenos Aires gambling restructure

Argentina PRO secures Buenos Aires gambling restructure

As anticipated the Executive of Buenos Aires has approved Budget Plan 2019 directives 142 and 143 sanctioning significant changes to the province’s operational gambling framework.

On Tuesday, district leaders voted in favour of BA Governor Maria Eugenia Vidal’s 2019 proposals, introducing a new 2% tax charge on player winnings from land-based casino, arcade and bingo operators.

Governor Vidal secures a ‘major victory’, with the BA governing Argentina PRO party previously outlining that the funds generated from the player tax will be used to deliver Vidal’s FIDES – Social Development & Integration Fund’. 

Furthermore, Buenos Aires’ executive has been granted permission to develop its first online gambling code, regulating digital services for slots, sports betting, poker and racing.

As previously communicated Argentina PRO seeks to initially sanction seven licenses for online gambling services, with each operator requiring to have a physical business presence within the state of Buenos Aires.

In its documents, Argentina PRO outlines that it will introduce a 15% online gambling revenue tax across all permitted verticals, on-top of fixed licensing charges.

Moving forward the Executive of BA will monitor online gambling services assisted by the ‘IPLyC – the Argentine Provinces Board for Lotteries and Casinos.

Securing its budget approval, Argentina PRO detailed that time and resources would be needed for Buenos Aires to establish its first ‘online gambling licensing registry’.

This week, Argentine news source ElOnce.com reported that bwin (GVC Holdings), PokerStars and bet365 were closely monitoring BA movements.

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