Liberal regs, more investment?
Paraguay’s comptroller general is displeased with a decision by the country’s gaming regulator to extend some gaming licenses. The regulator known as the Comisión Nacional de Juegos de Azar was criticized for providing inadequate information about the license extensions. Casino News Daily reports that the application for the extension of provisional licenses is now under way.
A report from the comptroller general’s office showed that 10 gaming operators are currently operating under temporary licenses granted by CONAJZAR. Meanwhile, tax revenue from gaming has surged in recent years with PYG10.2 billion (US$181 million) generated in September alone, a new high for a country that usually averages gaming taxes of about PYG8 billion per year.
CONAJZAR President Javier Balbuena says a more liberal regulatory framework will make Paraguay more attractive to investors. The official further noted that the country taxes gambling at rates lower than those in neighboring countries, which is a significant advantage for it to draw more international investors.
