At Long Last, Mexican Online Gambling Legislation ArrivesPublished November 12, 2014 by Lee R
Money laundering concerns have been effectively addressed after months of negotiation.
Mexico has apparently reached an agreement on gambling legislation. An arduous months-long process has concluded with National Action Party (PAN) and the Party of the Democratic Revolution (PRD) forging an agreement to implement a new legal framework for live and online gambling punctuated by new protections targeting money laundering.
Key New Measures
Mexican media reports that the new gambling law raises the minimum age for gambling to 21, and will battle money laundering by imposing limitations on unauthorized back room gambling proliferating the country side in what are known as “mini-casinos.”
In an interview, Deputy and Former Chairman of Mexico’s Special Commission on Casinos Ricardo Mejia Berdeja said that legislators and representatives of the Federal Government hammered out all remaining differences as of a November 4th meeting.
The law provides for a 10-year licensing system, regulation of online gambling, and the establishment of a new Advisory Council to oversee the regulation. This Council will be comprised of secretaries from the health, tourism, economics and government offices, who will be cooperating with representatives from non-governmental organizations as well.
As far as any other current and future concerns, Commission of Gaming in the Chamber of Deputies President Fernando Zarate Salgado said the new law will “put some order in the gambling world by regulating it and by fixing some issues we have now."
The adaptation of laws in Mexico brings hope for a larger gambling tournament and larger casinos that have shown positive results in other Latin American areas such as Brazil.
Prominent Mexican poker pros Angel Guillen and Christian "Grillo" de León have long been proponents of gambling regulation in Mexico. In an interview with PokerNews Latin America, de León and Guillen expressed their enthusiasm at the new opportunity that this announcement affords long-time players, as far as tournaments and community-building events that can engage the populace and bring in added revenue for the state as well.