Argentina has been home to a large and successful casino industry since the 1990s. Unfortunately, government officials here have been hesitant to embrace the online gambling industry. That finally appears to be changing, though. New reports indicate online gambling in Buenos Aires will soon become legal and regulated.
This has been discussed for years. Several issues have prevented the industry from moving forward, though. Today, we’re going to look at what’s changed.
Let’s get into it!
South America’s Casino Industry is Still Struggling
Back in March, something strange happened to casinos around the world. In many countries, land-based gambling venues were forced to immediately shut down. That’s true in many South American nations including Chile and Argentina.
It’s been almost six months since these regulations were put in place. Incredibly, the casino industries in many countries are still struggling. Things are getting worse, as cases of Covid-19 continue to increase throughout the continent.
Different countries are taking different approaches to help this situation. Over in Chile, gaming officials have worked hard to line up loans and new investors to keep major casinos afloat. It’s the second time casinos have shut down here in a year. The goal is simply to prevent these casino companies from going bankrupt.
Argentina is working hard to protect its casino industry, as well. For years, officials here have been looking into the regulation of online gambling. These efforts have ramped up recently and many feel this can help to bring casinos and the country some much-needed revenue.
It now seems the local government in Buenos Aires is taking this matter seriously. Officials here presented a plan to allow businesses to finally obtain online gambling licenses earlier this year. This push has ramped up in recent weeks.
Here’s what this means for the country’s gambling industry moving forward.
Online Gambling in Buenos Aires Will Soon Become Regulated
Argentina has developed a successful casino industry over the past few years. Unfortunately, all casinos here were forced to close down back in early March. These casinos have still not been able to reopen and some fear they’re close to shutting down permanently.
Officials in Buenos Aires recognize that something needs to change. Last week, they presented a new plan for casino operators to apply for online gambling licenses. There seem to be several reasons why this is.
The most obvious reason is to protect the casino industry. As we just mentioned, these gaming properties are still shut down. The ability to earn revenue from online gambling platforms could help to keep them afloat.
Several government officials also seem concerned with the rise in illegal, unregulated online gambling in Argentina. The regulation of this industry can finally help to bring the government money.
“Illegal gambling is five times worse than what it was at the beginning of the pandemic, so we need to regulate [the market],” an official government statement said.
Several major casino companies have already requested to join the bidding process for an online gambling license. As of now, the plan is to get this bidding process started by the end of the year. We’ll continue offering updates on this situation over the next couple of months.
Brazil’s Casino Plans Have Been Put on Hold
As we already mentioned, South America has been hit hard by the global pandemic. Even now, rates of Covid-19 have been increasing here. No South American country has been hit quite as hard as Brazil.
Brazil has the third-highest infection rate in the world. This situation has taken an incredible toll on many different industries here. It’s also stopped the country’s plans to finally allow casino gambling.
For decades, Brazil has prohibited traditional casino gambling. In 2019, however, lawmakers here presented a bill that would finally allow casinos to open up. President Bolsonaro finally seems interested in casino gambling.
The country’s casino plans have been put on hold. Opening casinos is the last thing on lawmaker’s minds. Hope is that things are better by the start of 2021. Many gaming proponents feel that Brazil should legalize online gambling, as well.
It seems like online gambling in Buenos Aires will become available sometime early next year. City officials are now busy looking for suitable companies to apply for an internet gaming license. Hopefully, this process goes smoothly and helps to protect the country’s casino industry.
Do you think online gambling will benefit casinos in Buenos Aires? Let us know in the comments section below!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. …