Play'n Go Obtains LOTBA Accreditation
Play'n GO announced that the company obtained accreditation from LOTBA, the gaming regulator in the city of Buenos Aires, Argentina. It is one of the first providers to be approved by the regulator in this exciting new market and will be able to offer fully compatible casino content to licensed operators as well as the nearly 17 million people in the Province of Buenos Aires.
Players will be able to enjoy popular titles such as Legacy of Dead, Contact and Reactoonz as well as a wide range of themes and game types such as the latest Latin American adventure Cat Wilde in the Eclipse of the Sun God or an epic quest in Viking Runecraft.
Argentina is implementing iGaming province by province, and Buenos Aires has always been one of the most desirable destinations and jurisdictions where gambling laws have progressed the most. It is a vibrant market in itself, unconstrained by a lack of consumers.
Latin America And Buenos Aires Are Important Entry Points For Online Gambling
The city of Buenos Aires began granting licenses to iGaming operators last year after passing a law to legalize the activity in 2018 and they only apply to the city, the province of Buenos Aires operates its own iGaming and betting regime.
Play'n Go Chief Risk and Compliance Officer Sissel Weitzhandler explained that the company's strategy focuses on working hard to allow the company to engage with each jurisdiction within the legal framework. Play'n Go was encouraged by the pace of re-regulation of the gaming industry in Argentina, with the province of Buenos Aires pushing for regulated gaming solutions since at least 2018.
The company expects a promising future in Latin America, Play'n Go sales manager Cristian Acuña said that LatAm players are going to appreciate what Play'n Go can offer in terms of gaming experiences.
Argentina Increases The Tax On Online Gambling
Economy Minister Martín Guzmán added to Argentina's 2021 budget bill an increase in the tax rate for online gambling and explained that Enacom, the national communications and media regulator, would oversee mobile gambling and be in charge of develop a domain name registry. Online gambling is estimated to generate around $ 2.4 million a year, but since most businesses operate "illegally" due to a lack of regulations, the state receives almost all of it in tax revenue or fees.
95% of the tax collection will go to the different provinces and the remaining 5% will be used to finance the plans of the state telecommunications company Arsat. The law seeks to include as taxable items any type of digital platform, regardless of the users' device.
The Best Way To Fight Illegal Gambling Is To Regulate It
The manager of the Lottery of the City of Buenos Aires (LOTBA) said that the only way to stop illegal gambling is to create a competitive and regulated online market.
Argentina's largest province, Buenos Aires, signed a regulatory decree that paves the way for the legalization of online gambling services. María Eugenia Vidal, governor of the province of Buenos Aires, promulgated Decree 181/19 that authorizes the provision of online slots, casino games, lotteries and horse racing betting. While not specified, poker will likely be covered by online casino games. It also allows betting on non-sporting events, as long as they are not political. Since December 2018, both the Argentine city and the province of Buenos Aires allow online gambling.
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