Peru’s Gaming regulator, Manuel San Roman, was keynote speaker at last week’s Peru Gaming Show. At the opening ceremony on Wednesday 20th, he gave news that the previous day Congress had granted Peru’s Executive Government, led by constitutional president Martin Vizcarra, special powers to legislate for a term of 60 days on specific matters. This could see legislation for online gaming and sports betting approved within this timeframe.
Ricki Chavez-Munoz, leading the Casino Compendium PGS delegation in Lima, met last Friday with Manuel San Roman, who confirmed that legislation of new gaming forms, and specifically gambling on the Internet, are within Congress legislation concessions to the Peruvian Executive. That indeed, this matter was part of the legislative package on the table.
To date, there is no legislation to regulate sports betting and online gaming in Peru, where many companies are operating in the local market, which generated revenue US$350 million in 2017. It is estimated that in 2018 that figure will be exceeded by some 20%, owing to sports betting during the World Cup Russia fever.
Congress legislative powers granted to the Peruvian executive to deal with taxation, economic management and competitiveness means that as Peru looks for more ways to increase fiscal income, betting on the Internet and mobiles are ready to generate at least US$80 million from current betting action if, as proposed, taxation on GGR of remote gambling is set at 12%.
Source: GMB / Casino Compendium
