Seven new companies operating or supporting sportsbooks will be authorized to operate in Puerto Rico. The Puerto Rico Gaming Commission (PRGC) has approved the recommendation of the Sports Betting Bureau to three operating companies and four service providers.
Five of the seven licenses are temporary, said PRGC Interim Director Jaime Rivera Emmanuelli. Prior to granting the licenses the commission assessed the profiles of the companies, concentrating on tax compliance, financial statements, technical and their principal shareholders and officers.
To finalize the licenses, operators must pay $50,000 for betting machines. Service providers must pay $5,000 for a license.
Emmanuelli added, “The sports betting industry is growing, under the regulations and supervision of the Puerto Rico Gaming Commission. Electronic betting has the potential to be an important source of jobs and the creation of commercial spaces for entertainment. It will also generate new revenues for the Treasury.”
Currently only retail sports betting is allowed on the island. But Emmanuelli said the commission is reviewing internal controls proposed by operators who want to provide online sportsbooks.
