The largest province in Argentina, Buenos Aires, gave out seven licenses to develop online gambling in a territory where 16 million reside.
According to the Official Gazette, each licensee must pay $65 million pesos (US$770) as a single fixed charge. The initial payment of $26 million comes due when an agreement is signed.
The licensees, selected after a year-long process, are:
- Argenbingo S.A., William Hill Ltd.
- Hillside PLC, New Media Malta
- Hotel Casino Tandil S.A., Playtech Software Ltd.
- Cassava Enterprises (Gibraltar) Ltd.
- Atlantica De Juegos S.A., Stars Interactive Ltd.
- Binbaires S.A., Intralot International Ltd.
- Casino De Victoria S.A., Betsson Malta Holding Ltd.
The Provincial Directorate of Administration and Finance of the Provincial Institute of Lottery and Casinos is charged with handling fee payments made by each licensee. Licensees must provide a performance guarantee within 10 days.
Argentina’s treasury said regulatory authorities must insist online gambling services are taxed at 5 percent of turnover, according to SBC News.
