Buenos Aires Province looks to legalise online gaming

Argentina, Buenos Aires, politics
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In order to raise additional tax revenue, governor María Eugenia Vidal is looking at legalising online gaming in Buenos Aires Province.

The initiative has been introduced this November as part of the new Tax Law which is being discussed in the legislature in parallel to the 2019 budget.

Proponents of the measure estimate that it could generate an extra $61.5m for the governments coffers.

Gaming is regulated by province in Argentina and the new sector will be overseen by the current gaming regulator, the Provincial Institute of Lotteries and Casinos, while a maximum of seven online licences will be issued.

In order to qualify for a licence – valid for a period of 15 years – operators must be based within the Province.
Online gaming operators will be required to pay a 15 percent tax on their profits, almost double the tax rate found in major iGaming jurisdictions such as Spain or the UK.

“We are working to regulate this modality. The ball is now in play in the provincial legislature, after which we’ll see [which companies] participate in the licensing process,” said a spokesperson for the governor’s office.

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