7 iGaming Companies Awarded Licences in Buenos Aires ProvincePublished January 12, 2021 by Brett C
2021 ushers in scores of newly licensed iGaming operators in Argentina's Buenos Aires, as legal online gambling takes root in this LATAM nation.
Buenos Aires Kicks Off 2021 With Scores of iGaming Licenses
7 iGaming companies have now been officially licensed to offer real-money gambling games to legal-age players in Buenos Aires. The announcement by the president of the Buenos Aires’ Provincial Institute of Lotteries & Casinos was met with rapturous applause from fans of iGaming. Among the many leading brands benefiting from licensure include Betsson, William Hill, and Playtech operators.
The announcement was made on Thursday, 31 December 2020. Multiple companies received licensing, including 888 Holdings plc with Boldt, Hotel Casino Tandil with Playtech, Casino de Victoria with Betsson, Atlantica de Juegos with Flutter Entertainment, Argenbingo with William Hill, Binbaires with Intralot, and Pasteko with bet365. As with other regulatory authorities, land-based casinos, bingo rooms, and gambling venues are required to partner with iGaming companies for licenses to be issued.
A once-off fixed fee equivalent to $768,000/€625,000/£565,000 was required, in addition to a signing fee to ratify the issuance of the license. All operators are subject to 25% GGR tax. Compliance certification is required within 10 working days of signing for an iGaming licence. In order to be granted a license, the operators must have a legal person, or a human person in charge of operations. Alternatively, public or private companies with registered domicile in the province of Buenos Aires is required.
After 1.5 Years iGaming Licenses Finally Issued
While foreign operators can be granted licenses, these are only available through temporary unions of companies, with a local company or entity holding a 15% share of operations. Each of the 7 iGaming companies awarded a license were approved in January 2020. The only partnership which was not approved at the time was Casino de Victoria and its partnership with Bettsson. Fortunately for them, Bingo Pilar’s application with Paddy Power Betfair fell through and Casino de Victoria received its license.
Multiple criteria were required at the time of licensing, including data security, financial capacity, and industry experience. The process kicked off in June 2019, but the brakes were put on by the election of Axel Kicillof. Now, some 1.5 years later, the process has been finalized and a brand-new regulatory framework is in place for operators to apply for licensing and regulation in the capital city. The annual license fee + processing fee amounts to $100,000 + $30,000 respectively. iGaming operators in the capital city are required to pay 10% GGR tax.