Buenos Aires government green lights several gaming licences

World renowned companies such as Betsson and William Hill are among the companies that acquired a licence

The government of Buenos Aires has issued seven gaming licences in order to push the expansion of online gaming within the province. Axel Kicillof, Governor of Buenos Aires and renowned Argentine economist, published the outcome on a newsletter.

To be part of this approach the proposals of 16 Argentine companies, that are associated with foreign businesses, competed against each other.

The companies that have managed to acquire a licence are:

Sweden’s Betsson – in alliance with Casino Victoria,

Atlantic Games which is currently in a long term partnership with Stars Interactive Limited, owner of the giant ‘PokerStars‘ – a company linked to former Boca Juniors President Daniel Angelici.

Additionally, another major company that was granted a license was Bolt, associated with Cassava Enterprises of 888 Holdings. Bolt has also acquired licences in Paraguay and Santa Fe.

Other companies that complete the list of Argentine companies associated with foreign firms consist of:

Hillside of Bet365 with Pasteko S.A;

BinBaires in alliance with Intralot

The online sports betting giant William Hill, which is currently in an alliance with Argenbingo.

In the wake of the current pandemic, it was highly unlikely that further development of online gaming would be held as a priority for Kicillof’s government. However, due to a decrease in funds and pressure from Lottery President, Omar Galurralde, Kicillof decided to give the green light to online gaming.

According to a text signed by Omar Galurralde (pictured) , each licensee will have to pay a single fixed sum of AR$65,000,000, with licensees required to pay AR$26,000,000 once they sign the agreement. The remaining sum could be paid at a later date and all licence holders will be subject to a 25% gross revenue tax.

Source: LMGMAS

About SiGMA Pitch:

Following a very successful run, the 5th edition of SiGMA Pitch is back for Spring 2021. Over 100 startups will be selected to showcase their products and initiatives throughout the event. Each startup will have a small booth at SiGMA surrounded by top investors and mentors. However, only the judges’ top ten make it to the Pitch during the final leg of the Summit. Increase your chance of being one of the top 100 by providing a 3-minute video-introduction upon participation! Apply now.