A Wealth of New Data Reports that Columbia is Recovered and GrowingPublished November 17, 2020 by Lee R
The proactive programming in Columbia has been revealed by Coljuegos as revitalizing the market.
New figures reflect the scale of revitalisation taking place in the Columbia market.
The current totals provided by regulator Coljuegos stand at over COP2.8tn (£559.8m/€621.2m/$723.4m) in gaming taxes since 2015.
Last Year's Comparison
The industry contribution for 2019 was COP668bn, for a cumulative rise of 76% from the COP380bn collected in 2015.
The Covid Factor
The coronavirus pandemic hit Columbia's land-based sector particularly hard, with only COP254bn collected as of September 2020.
The closures in Columbia began in March. Now, local governments are receiving authorization to reopen venues in accordance with updated Covid-safe procedural guidelines, with casinos in Bogotá, Medellín and Floridablanca already reopening.
The Modern Era
Columbia's modernization starts with legalisation and regulation of online gambling since 2017, with the number of regulated games registered with Coljuegos growing from 35 to 1,408.
Economic Impact of iGaming
Coljuegos president Juan B. Pérez Hidalgo explained the economic impact on the sector: the gaming industry has generated over 100,000 jobs; to occupy over 20,000 commercial premises where rents are paid; while contributing over a trillion Pesos in exploitation rights; with COP668bn contributed from sales tax alone.
Hidalgo further illuminated the three-pronged re-activation approach that Coljuegos was implementing: reopening of land-based gaming with enhanced safety protocols; financial relief, tariff reductions and interest-free payment agreements for operators; and expansion of offerings such as live casino and remote player bingo.
Coljuegos reported 347 active concession contracts, covering 2,737 establishments; 84,462 slot machines; 14,860 seats in 80 bingo halls; and 428 operating casino tables.
Pérez Hidalgo says that the iGaming sector has experienced a faster recovery than most other economic sectors, and lauded two record takes for October: a Super Astro game sales record and Baloto Revancha's highest prize pool in history “with COP58bn.”
Effective Blocking of Unlicensed
Further data reveals that blocking orders for illegal operators now have reached 4,296 websites, with all illegal operations removed from the land-based sector:
“From 2016 to October 2020, a total of 1,141 control actions have been carried out that have allowed the withdrawal of 12,382 gambling elements that operated games of luck and chance illegally.”
This substantive data, planning, and implementation bodes well for the Columbia economy and the Lat Am market where Columbia can take a leadership role.