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Argentina's market is quietly starting to gather some momentum, thought it won't seem so quiet anymore.
New Entry
That's because major player Casinos Maverick has entered the space.
Provincial License Foray
Casinos Maverick is the first Neuquén province-based gaming operator to launch online gaming, after gaining approval for a provincial license from Neuquén Gaming and Betting Institute (IJAN).
New Deal
Casinos Maverick has promptly teamed up with LatamWin to launch a new diversified portfolio of online gaming content in the Aregtine state.
Casinos Maverick had previously operated as a land-based gaming operator, with the new license coming as the state of Argentina approves virtual casino play as well.
Mavericks in iGaming Space
The LatAmWin deal enables Casinos Mavericks to move into the iGaming space by rolling out virtual slot machines; casino games; and bingo offerings under the Mavericks banner—while additionally awaiting approval for live dealer games and sports gambling.
LatAmWin Background
LatamWin brings a strong iGaming presence from several Latin America countries. The new deal calls for a revenue-sharing scheme sure to boost the revenues of both companies.
Economic Solution
Argentina’s land-based casino segment is attempting to recover from the COVID-19 hit, with online operations offering a key hoped-for economic solution.
New operators so far are reportedly finding it easy generate revenue to cover Argentina's tax requirements.
LatAmWin Leader Speaks
LatAm Win's Business Development Manager Cristhian Vargas called the year “complex” due to regulatory shifts across Latin America and Argentina's green lighting of iGaming as an economic solution for the Covid crisis:
“Luckily, due to our commercial management in the country and the agreement with JSD, we were able to obtain two licenses.”
Entering Through the Provinces
Vargas called the two provincial licenses key points of entry into the complex Argentina market, “allowing us to access two places in Catamarca and Neuquén provinces.”
Argentina's State Approvals
While permitting online gambling at the national level, Argentina has left it to individual states to determine whether to legislate online gambling.
Nine provinces have legislated and implemented online markets; four more approving states await implementation; one currently considers legislation; and two are weighing regulation right now.
Outlook
The current economic crisis makes it difficult to envision Argentina's remaining states delaying legalization of virtual casinos in the near future.
