Madrid-based gaming operator Codere Online is offering sports betting and online casino services through www.codere.be.ar. “The start of operations in the City of Buenos Aires represents a fundamental milestone in our business plan and a complementary opportunity with the Codere Group’s strategy in Argentina, a country in which Codere started in 1992 and is currently a well-established operator with 13 bingo halls and a recognized brand in the Province of Buenos Aires,” commented Moshe Edree, Managing Director of Codere Online.
“The adult population of the City of Buenos Aires is almost 2.4 million, which together with the almost four million visitors, gives us a considerable opportunity to reach new clients,” Edree added.
Another of the companies that received a license to operate in this new market is BetWarrior, an Argentine brand with activities since 2019 in 11 countries in the region, belonging to the Palermo Hippodrome and the Buenos Aires Casino. Its national partner is Binaires and its foreign partner is the Greek group Intralot. Also, the Danish company Shape participates, which is in charge of the Danish lottery.
Meanwhile, Bplay is launching its online casino product at Bplay.bet.ar. Bplay is a collaboration between 888 and B-Gaming, which is owned by the Boldt Group, the operator of two casinos in Argentina.
Elsewhere, online gaming technology company Gaming Innovation Group (GiG) is powering Grupo Slots’ online casino and sportsbook launch, which is available on Jugadon.bet.ar. The launch marks a new market entry for GiG, enabling it to add Argentina and the city of Buenos Aires to its growing list of licensed markets for its iGaming Platform, signifying an active presence in regulated Latin America (LatAm).
Juan Ignacio Torres, General Manager for Grupo Slots, commented: “Today we had set a new milestone in the history of Grupo Slots because the beginning of Jugadon in the City of Buenos Aires is a great leap forward that enhances the wide experience of the company in the gambling industry. We built a great team with GIG, and have developed a solid and safe platform that matches regulators specifications as well as Buenos Aires Citys’ market requirements. We want to thank our team for their outstanding work over the last months that allowed us to successfully reach this goal.”
The fifth operator with is license in this new emerging market is Super7, that belongs to Grupo Ivisa from Argentina.
In tax terms, each licensee paid US$ 56,700 at the time of filing and must pay US$ 670,000 as a one-time fixed charge. In addition, once they start operating, the licensees must pay the fee to operate (10%) and the tax on Gross Income (15%), as well as the rest of the applicable taxes such as Income Tax.
The City of Buenos Aires’ gambling regulator Loteria de la Ciudad (LOTBA) outlined licensing criteria for online gaming licenses in February 2020. Argentina is currently regulating gambling on a state-by-state basis.
Source: GMB
