This story was published more than 2 years ago.
The Buenos Aires Provincial Institute of Lotteries and Casinos has announced that they've granted seven online gaming licenses to various operators and software groups.
The announcement was made on December 31st, 2020 and saw licenses awarded to Argenbingo/William Hill, Pasteko/bet365, Hotel Casino Tandill/Playtech, Boldt/888 Holdings, Atlantic de Juegos/Flutter Entertainment, Binbaires/Intralot, and Casino de Victoria/Betsson. These operators will all be able to offer online casino and sportsbetting services in the Argentinian state,
These operators had to pay a single fee of $768,000 and will be subjected to a 25% tax rate on gross revenues. There is also an annual fee of $100,000 that will also be required.
Rules in Buenos Aires require any online operators to have a local company to have at least a 15% stake in the operation, hence the partnerships we saw above.
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Comments
The one time fees seem quite big but of course it will definitely pay off as these are big casinos and will be able to operate in Argentina market. I'm sure it will impact their business for the better.
Lotsa people down there. I'm sure they'll make that money back many times over.