The Argentinian province of Buenos Aires is in its final stages of completing a move for regulated mobile online casino gaming in that province. The local gaming authorities revealed this, IPLyC, (Instituto provincial Loteria y Casinos). It also revealed about seven bidders that will be permitted to offer digital betting licenses and iGaming services.
Available Bidders
The names of these seven bidders were revealed in the Buenos Aires Journal on the 31st of December. This regulation was initiated in 2018 when the Buenos Aires lawmakers sanctioned Decree 181. The decree necessitates regulating all interested companies wishing to render online gaming and betting services to obtain a license to operate in that province from IPLyC.
This move initially gained momentum for the first seven months of 2019. However, in August 2019, there was a political crisis in Buenos Aires, thus putting the legalization process on hold. Until the end of 2020, when the names of approved companies were published, the legalization process was continued.
Under the law, IPLyC can only approve a maximum of seven online gambling companies. This law also ensures that all license holders would pay a 5% tax.
Approved License Applicants
Last year, IPLyC claimed that it received applications from 14 online gaming companies (which would be a partnership between local operators and international companies).
The final seven collaboration companies that got approval include Hotel Casino Tandil and Playtech, ArgenBingo BA and William Hill, Casino de Victoria and Betsson, Boldt SA and 888, Binbaires SA and Intralot, Atlántica de Juegos and Flutter, and Pasteko SA and bet365.
Some other well-known gaming operators applied but were not approved. Among them is BetCris on LatAm, and Luckia and Codore in Spain.
What is the aim of IPLyC
IPLyC will also aim to launch an online gambling market before online bets and games are regulated in Buenos Aires. The approved online gaming partners would also present “compliance guarantees” within a period of 10 days, starting from the 31st of December, before they can be issued their licenses.
These gaming companies would also pay a sum of ARS65 million (about $773,000) before they would permit them to carry out online gaming operations in Buenos Aires.
However, while IPLyC keeps working towards finalizing the process, Axel Kicillof, Buenos Aires Governor, is not happy with rules and regulations, alongside with the welfare fund drafted by his predecessor.
This was disclosed by a local news outlet who also claim that this development may want to hinder the launch of a regulated market in the province.