Online gaming seven licensees for the Province of Buenos Aires would be defined

When they were starting with their tasks, the new authorities of the Buenos Aires Province IPLyC, with Omar Galdurralde replacing Matias Lanusse in the presidency of the entity, would have received some final key documentation. In those papers, there would be the results of the selection by the Evaluation Commission, with the names of the seven licensees that will start iGaming and sports betting operations in that important Argentine jurisdiction. Official announcement will be made soon. Gaming & Media News was the exclusive Argentine media to access that sensitive info and can now anticipate the companies that were selected.

Based on their experience in the industry, their financial backing, the technical characteristics of their platforms and other attributes, the seven selected UTEs (the Transitory Union of Companies, between local and foreign firms) would be:

FOLLOWING OBLIGATIONS

As a single fixed charge, these companies will have to pay $65 million (US$1.1 million) in a three-stage process: 1) 40% of the total when starting operations; 2) another 40% after the first year of operation, and 3) the remaining 20% after ​​the second year. In addition, there is an established guarantee of $130 million (US$2.18 million).

Each licensee will develop a single license for a non-extendable period of 15 years. In tax terms, 8% of the gross profits produced by online gaming in the Province will go to General Revenues, that will distributed among different needs in education, promotion and social assistance, as determined by the National Government. The remaining percentage will be for the operators, after deduction of the fee to the IPLyC, which may not be less than 2% of gross profits. At the same time, operators must pay Gross Income (15%).

Despite some delay, a year after the activity was regulated, everything would be ready for these seven companies to start operating in March 2020. According to the consulted sources, the documentation of the law would not undergo major modifications by the authorities of the Province, now in charge of Governor Axel Kicillof (who replaced Maria Eugenia Vidal). Beyond the State goal of regulating gambling, an essential objective for the Provincial Treasury will be to annually collect about $2.5 billion (US$41.85 million) in taxes from online gambling, in order to pay some remaining debts at the Provincial and National level.

It should be remembered that, in principle, there were 16 companies (UTEs) that registered as applicants. In alphabetical order, they were as follows:

Likewise, all the original documentation on the law, decrees, regulations, licensees, inquiries, records and circulars can be consulted here: http://www.loteria.gba.gov.ar/.