The Spanish sportsbook operator, which went public on Dec. 1, 2021 following a combination with blank-check firm DD3 Acquisition Corp. II, is up 170% year-to-date. That’s easily the best showing among US-listed gaming stocks that are the product of SPAC deals, a group including DraftKings (NASDAQ: DKNG), Rush Street Interactive (NYSE: RSI), and Super Group (NYSE: SGHC).

Within and outside of the gaming industry, there are myriad examples of blank-check deals gone bad, but there were benefits for Codere Online in that form of going public.

We raised over $100 million net of fees which allowed to fund a very ambitious marketing plan over the subsequent two years,” noted Guillermo Lancha Jiminez, Codere Online’s head of investor relations. “By being able to invest meaningfully in our markets, we were able to our consolidated revenues by nearly 50% in 2022, our first year post de-SPAC, followed by 40% growth in 2023.”

Codere Online, founded in 2014, is a unit of Codere Group — the only listed Spanish company in the gaming industry. The online operator is the first internet gaming entity from Latin America to publicly trade in the US.

Codere Online Could Be Hidden Gem

Combine its market value of $368.50 million (as of late US trading hours Monday) with the fact that it doesn’t operate in the US and it’s not a stretch to say Codere Online may be overlooked relative to other sports wagering equities.

Unlike US iGaming and sports betting companies that typically rush to enter every state possible, Codere Online took a pragmatic approach to Latin America by focusing on Mexico, not rushing into other countries simply for the sake adding new markets.

“We put other markets like Argentina, Colombia or Panama, where we currently don’t have a winning formula, on standby while we continued to focus in our core markets,” added Jiminez.

Coder Online Fast to Reach Profitability

One of the primary drags on shares of de-SPACed companies, gaming and otherwise, is that those firms often try investors’ patience by taking awhile to become profitable. That wasn’t the case with Codere as it took the operator just two years to reach profitability, underscoring the benefit of not doing business in the high-priced US market.

Jiminez said the company remains focused rapid growth while not risking its free cash flow and earnings before interest, taxes, depreciation, amortization (EBITDA) positions.

“We have achieved relevant positions in these markets that we plan to defend and as we start to generate cash over the coming months, we will remain attentive to any opportunities that can help us maximize the value for our shareholders,” he concluded.

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Peru authorized new online gaming regulations last November. The country is the third in the region in which Rush Street Interactive has entered following Colombia in 2018 and Mexico in 2022. It’s estimated that online sports betting drives an annual handle of $1 billion in Peru, and with the government’s favorable 12% tax rate, it could be a compelling market for operators such as RSI.

Notably, RSI has become the first operator to be fully licensed under the Peru’s new regulatory regime demonstrating its ability to meet rigorous compliance standards and aligning with the company’s strategy of entering regulated markets with strong growth and profitability potential,” according to a statement issued by the Chicago-based gaming company.

Rush Street Interactive was the first US-based operator to establish itself in Mexico — Latin America’s second-largest economy — and the RushBet brand is now among the leaders by market share in Colombia.

LatAm May Not Be Appreciated in RSI Investment Thesis

With the stock up 127.39% year to date, it’s hard to complain about RSI’s performance, but much of the upside has been fueled by the operator’s profit and revenue growth, as well as speculation that the company remains a prime takeover target.

By establishing itself in the region, RSI could eventually tap into other markets there, including Argentina and Brazil — the latter of which is the region’s biggest economy and home to its largest population. Specific to Peru, that country is home to more than 34 million people, meaning it would be the second-largest state behind only California.

“The Peru launch enables RSI to optimize its Latin American operations by sharing resources, including marketing assets and customer service teams, across multiple countries. This approach is expected to drive operational efficiencies and expand long-term growth in the region,” RSI added in the press release.

Why Peru Matters to RSI

As noted above, Peru offers RSI several advantages that may not yet be fully appreciated by the industry or the investing public. Those include a favorable tax percentage, strong regulatory guidelines, and a sizable population.

“This launch is not just about entering a new market; it’s about building on our vision to create an engaging, unique online gaming experience across the Americas,” said RSI CEO Richard Schwartz in a statement.

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A video went viral on TikTok this week under the profile “Mr. Talcott.” The man in the clip — Michael Rivera — tells viewers he won a room upgrade playing “blackout bingo” aboard the Azamara Quest vessel.

Rivera said in the 1:17-long video that he and his husband, Garett Talcott, were given a complimentary upgrade for winning bingo. Blackout bingo requires players to complete an entire bingo card. In this instance, Rivera was the first player to black out all 25 spaces on his bingo card.

We just won bingo and got upgraded to the biggest room on the entire ship,” Rivera said in the social media post.

The suite comes with a dining area, storage cabinets, a full bathroom with a jacuzzi tub and walk-in shower, a king bed, desk, two televisions, closet space, butler service, and a 233-square-foot private veranda.

Rivera is an elementary school teacher who is spending part of his summer holiday at sea with his husband. The couple will now spend it most luxuriously.

Rivera and Talcott, per their social media channels, including Instagram, appear to be regular cruisers. The couple also took an Azamara cruise over the Christmas holiday break last year.

Pays to Play?

Rivera and Talcott are on a 20-day journey at sea. They will reside in their Club World Owner’s Suite the entire time. According to the Azamara website, such a guestroom for a 20-day voyage can cost as much as $50K for two cruisers.

Bingo is played most days at sea on an Azamara cruise, with the cruise offering an array of prizes. Rivera told Newsweek that they paid $450 for nine bingo cards each. They said only about 30 people were playing, so they bet big on winning the suite upgrade.

For several years, Azamara has also run a Summer Bingo promotion for travel agents. The game tasks travel agents to book several cruises for clients for a chance at winning a free cruise for two.

Unlike most leading cruise lines, Azamara doesn’t offer casino gambling. The ships instead offer a card room where games like bridge can be played casually.

Cruise Industry Banner Year?

The Cruise Lines International Association (CLIA) said in April that 2023 was the industry’s best year ever in terms of passenger volume. The trade association said 31.7 million people took a cruise, a 7% increase from 2019 and a new annual high.

A CLIA survey of 2023 cruise passengers found that nearly three in four cruise travelers said a travel advisor convinced them to embark on a cruise.

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Under the terms of the pact with creditors, the gaming company’s debt will decline to $138 million from $1.72 billion, with investors who hold Codere’s super senior notes taking control of the company. That doesn’t mark a significant change in control of the firm because many of those investors make up a majority of Codere equity owners.

The transaction so far has support from more than 60% of all creditors and shareholders,” reports Bloomberg. “Creditors have until June 25 for subscribing to provide the bridge notes that will allow the company implement the deal, and until July 9 to accede the lockup agreement and deliver instructions in connection with the Spanish restructuring plan.”

Following the transaction, Codere’s debt/earnings before interest, taxes, depreciation, and amortization (EBITDA) ratio will decline to a more tolerable 0.9x.

Despite Debt Woes, Codere Stock Surging

The operator, formerly known as Grupo Codere — Codere Online’s parent — is undergoing a dramatic alteration in Spain. Now known as Nueva Codere, the company sold some assets in Argentina and spun off the online business as part of its makeover

In fact, bumpiness in Argentina and Mexico — two of the operator’s crucial markets — is one reason why Codere has struggled to get a handle on its debt burden. Conversely, shares of the US-listed stock have performed exceptionally well. The stock is up nearly 140% since the start of the year.

In that region, Codere Online is operational in Argentina, Colombia, Mexico, and Panama. Likely owing to home country bias, many US investors aren’t aware of the wagering opportunity in Latin America, but online gaming there notched an eight-year compound annual growth rate of about 20% in Codere’s core markets.

Debt Stability Could Be Boon for Codere

The dramatic reduction in Codere’s debt could bring much-needed stability to the company with equity investors likely hoping the fifth time is the charm.

Codere has been rumored to be a takeover target in the past and it’s possible the debt restructuring could renew interest on that front, but that remains to be seen.

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It’s rumored that US-based betting behemoths DraftKings (NASDAQ: DKNG), MGM Resorts International (NYSE: MGM), and Hard Rock International are examining avenues for entering the most populous country in the region.

For domestic iGaming and sportsbook operators, the allure of Brazil is easy to understand. State-level legalization in the US is slowing with widespread belief that it could be years before California and Texas permit mobile sports betting. Conversely, Brazil has the framework in place and is home to more than 209 million people, making it the sixth-largest country in the world.

Brazil Could Increase Allure of Rush Street Interactive

Already rumored to be a takeover target, Rush Street Interactive (NYSE: RSI)could draw increased interest from potential suitors as Brazil liberalizes its online wagering market.

There has also been talk the operator could eventually enter Argentina and Peru. Should RSI prove successful in procuring a Brazilian license, it could make the firm an attractive target for another US-based operator that sees opportunity in Latin America.

Last month, Bloomberg reported that RSI approached multiple prospective buyers, including DraftKings, but the company has yet to publicly confirm such talks.

Brazil Could Be Next Great Sports Wagering Frontier

Alone, Brazil’s status as the region’s largest economy and most populous nation make it alluring for gaming companies, but there’s more to the story.

On the sports wagering front, Brazil is famously one of the most soccer-rabid countries in the world. It has five World Cup titles, is the only country to compete in all 21 editions of the tournament, and holds several other records, including games played, matches won, and goals scored.

The NFL is also increasingly popular there, and Sao Paulo will host the league’s first game in South America in 2024. The NBA is also popular among residents in what is the world’s 10th-largest economy.

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Casino.org, the world’s #1 guide to online casinos and provider of gambling news from around the world, is holding a sweepstakes. The grand prize is an all-expenses-paid cruise aboard the new $1 billion Sun Princess. Built on behalf of Princess Cruises, a subsidiary of Carnival Corporation, Sun Princess is set to make its maiden voyage in the coming weeks.

Casino.org wants to put you on board for free, with the only caveat being your willingness to review the ship’s casino with $500 in complimentary gaming credits.

Sun Princess’s nearly 9,000-square-foot gaming space is one of the largest at sea. The gaming area features 227 slot machines and 13 live dealer table games.

Contest Details

Interested in voyaging aboard Sun Princess on Casino.org’s dime? Click here for all the details.

The cruise will run in June or September if the winner is from the UK and either October or November if the winner is from the U.S. To qualify, entrants must be at least 21 years old and have a valid passport to travel.

Casino.org estimates the top prize to be worth $8,000. The contest entry runs through April 30 at 3 a.m. EST.

Casinos Regain Importance

Cruise ship operators have recently refocused on their gaming operations, as interest in gaming as a form of entertainment continues to surge in the U.S. Gamblers stateside last year lost a record $66.5 billion at commercial casinos, sportsbooks, and online casinos.

Once confined to Las Vegas and Atlantic City, the vast expansion of casinos throughout the U.S. has led to gambling becoming a more acceptable form of entertainment. And many cruisers seek to test their luck after their ship ventures into international waters.

Princess Cruises isn’t the only major cruise line dedicating considerable floor space for gaming in its newest vessel.

Icon of the Seas, currently the world’s largest cruise ship, made its maiden voyage in January. It has 370 slot machines and 30 table games. Like all casinos operated by Royal Caribbean, the gaming space on Icon of the Seas is branded Casino Royale.

In recent years, cruise ship casinos have gotten not just larger and more high-tech but also even more exciting and engaging thanks to robust features and perks you may not be aware of,” Royal Caribbean’s website explains of its Icon of the Seas Casino Royale. “Not surprisingly, the newer and larger ships in the fleet have the most impressive casinos, with thousands of square feet of space brimming with hundreds of slot machines and gaming tables to appeal to different interests and skill levels.”

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Royal Caribbean Group is the parent entity of Royal Caribbean and Celebrity Cruises. Both lines typically offer guests on-ship gaming with slot machines and live dealer table games.

Players have expressed frustration with Royal Caribbean maintaining two casino loyalty programs for the two cruise lines. Casinos aboard Royal Caribbean are branded Casino Royale and feature the Club Royale rewards program. Celebrity simply calls its gaming venues The Casino and offers a loyalty program called the Blue Chip Club.

It’s presumed that Royal Caribbean will soon adhere to their customer calls to merge the two casino programs.

We have some status match between the brands today, but there’s such a huge opportunity for us to do more and really take advantage of the connection and us being part of the same family,” Andrea Shay, associate vice president of Celebrity Cruise’s loyalty marketing, told the Royal Caribbean Blog in September.

In what’s likely due to more time needed to bring the loyalty schemes together, Royal Caribbean is extending the Blue Chip Club earning period for 2023 from Dec. 31 until July 31, 2024.

Program Details

Casinos are gaining in importance for major cruise operators, as made evident by companies like Royal Caribbean and Carnival Corporation recently announcing major updates and expansions to their ship casinos. After briefly doing away with casinos, Crystal Cruises announced in September it was reversing that decision and bringing back slots and tables for 2024.

Royal Caribbean this year swapped out most of its jazz clubs to create smoke-free casino spaces. Princess Cruises, a Carnival subsidiary, will open its largest casino ever when its new vessel, the $1 billion Sun Princess, sets sail in February. The Sun Princess casino spans nearly 9,000 square feet and will offer 227 slots and 13 tables. Carnival also added progressive table games this year.

Under the current arrangement, Blue Chip Club members receive a tier point for every $1 wagered on slots and $2 on video poker. The program issues eight tier points for every $1 bet on table games.

Once a member reaches the Amethyst level at 25,000 points, they receive $100 in free play on each trip. The promo increases to $500 at the Sapphire level of 100,000 points, and to $1,000 at Sapphire Plus (500,000 points).

The program’s top tier is Ruby, at one million points. Ruby members receive $2,500, or 15% of their previous sailing’s gaming activity, whichever is greater, per trip in free play.

Royal’s Club Royale issues a tier point for every $5 played on slots and $10 on video poker. Table games accrue points based on time played, game, and average bet. Points can be redeemed for free play.

Royal Caribbean’s Club Royale program resets players’ points every April 1. Celebrity’s Blue Chip has typically reset Jan. 1. But that won’t happen in 2024 until Aug. 1.

Celebrity Casinos

Across its fleet, Celebrity Cruises offers more than 2,000 slots and 150 table games. To gamble on most voyages, guests only need to be age 18 and older.

Casinos open once the ships venture into international water, which in the U.S. is roughly 12 miles from the mainland.

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This landmark decision marks a significant step toward the legalization and regulation of online gambling in Brazil. The bill, which was approved by the Chamber of Deputies in September, was sent back for further analysis after the Senate made changes to the content.

The approval by the Chamber reinstates the authorization of online casinos, which had been removed from the Senate’s version of the bill. This marks a huge advance for online gambling and betting across the country, promising to deliver significant revenue to the government.

Overcoming Obstacles

The bill’s approval wasn’t without its challenges. Evangelical deputies, who have long opposed gambling on moral grounds, vehemently tried to block the legislation, arguing that gambling can lead to addiction, financial ruin, and other social harms.

Lira also pointed out that the proposal had already been approved by the Chamber in September and by the Senate, where evangelical parliamentarians had secured some victories. He argued that delaying the vote further would not prevent online gambling, but rather would allow it to continue in an unregulated environment, increasing the risk of fraud and addiction.

The Chamber of Deputies will now finalize its review of the bill and send it to Brazilian President Lula da Silva for his approval. Once signed into law, the bill will establish a comprehensive regulatory framework for the online gambling industry in Brazil.

What the Bill Includes

The bill will impose strict age and identity verification requirements, as well as responsible gambling measures. Online gambling operators will be required to adopt measures to prevent addiction, such as setting deposit limits and implementing cooling-off periods. They will also be required to provide information about responsible gambling practices to their customers.

The bill’s passage is a significant victory for the Brazilian government, which has long sought to regulate the online gambling industry. It is also a victory for the gaming industry, which has been eager to expand its operations in Brazil.

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The Ministry of Finance (MoF) has issued notifications to the trio of companies for failing to adhere to established gambling ad guidelines. The ministry has previously held four meetings with these companies to emphasize the need for compliance. But ongoing irregularities have prompted further action, according to media outlet Olhar Digital.

The ministry has also observed a lack of clear age verification mechanisms, allowing minors to easily access and engage with sports betting platforms. This has raised concerns about the potential for underage gambling.

What’s Next

In response to these violations, the ministry has instructed the tech giants to implement immediate corrective measures to ensure compliance with the established guidelines. This includes incorporating clear age restriction notices and warning clauses in all sports betting advertising, particularly on social media platforms and online platforms.

The MoF also warned the companies that further noncompliance could result in administrative sanctions. This could include fines and potential removal of their platforms from the Brazilian market.

The move is expected to set a precedent for other tech companies operating in Brazil, and encourage them to prioritize responsible advertising practices. This is in line with an ordinance that establishes a regulatory framework for the accreditation of sports betting sites, and outlines responsible gaming guidelines to promote safe and ethical gambling practices.

The ordinance prohibits the placement of sports betting advertisements in schools and universities, ensuring that adolescents aren’t exposed to gambling messages early on. It also mandates clear and visible warning or prohibition seals to indicate that these ads aren’t intended for minors.

The ordinance further prohibits the use of sexual appeal or virtues such as courage and maturity in gambling advertising. These tactics can appeal to emotional triggers and exploit vulnerable individuals, further reinforcing the need for responsible marketing practices.

Less Influence from Influencers

To curb misleading advertising and unrealistic expectations, the ordinance also prohibits marketing that falsely inflates the likelihood of winning or suggests that gambling is a path to personal or financial success. This includes advertisements featuring celebrities or influencers who endorse gambling activities.

Failure to comply with the new regulations will result in penalties for influencers and social media platforms. Influencers who violate the rules may face warnings or suspensions of their activities for up to six months, which could be extended in some cases.

Social media platforms can also be held responsible. They could be subject to fines of up to 2% of their company’s revenue for allowing influencers to promote unregulated gambling on their platforms.

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The proposal, which the Chamber of Deputies introduced over a year ago, has sparked mixed reactions. Supporters highlight the potential economic benefits and job creation opportunities, while opponents raise concerns about potential social and ethical implications.

There was a chance that the bill would see renewed progress Wednesday, appearing on the calendar of the Senate’s Constitution, Justice and Citizenship Commission (CCJ, for its Portuguese acronym). However, according to an update on the calendar, that meeting has been canceled.

Where the Bill Stands

The potential legislation suggests that casinos could be allowed within tourist destinations or integrated parks, with the allocation of one casino per state and the Federal District. S?o Paulo has been granted special privileges that would allow it to accommodate three casinos. Additionally, Minas Gerais, Rio de Janeiro, Amazonas, and Pará can each establish two casinos within their jurisdictions.

The bill proposes a comprehensive framework for overseeing the game of bingo, encompassing both physical cards and their digital counterparts. Moreover, the legislation empowers each state to designate a single legal entity to oversee and conduct the traditional Brazilian game of Jogo do Bicho, a popular type of lottery-based game.

Only one Jogo do Bicho license will be issued for every region with a population of 700K or more. The licenses will be valid for 25 years, after which they can be renewed for another 25 years.

Regarding horse racing betting, the legislation empowered the Ministry of Agriculture’s tourism agencies to procure a permit for conducting operations. Additionally, these organizations are eligible to possess licenses for hosting tournaments involving traditional and digital forms of bingo.

Tax Rate Still Uncertain

To generate revenue from the regulated gambling industry, the bill proposes two new taxes. Operators would have to pay a Gaming and Betting Inspection Fee and an Intervention Contribution.

The former, with a rate of up to 17% on the gross revenue of betting companies, would be earmarked for the inspection and surveillance of gambling activities. The latter, still under consideration, would generate further revenue for government coffers.

When the Brazil Senate recently approved a sports betting bill, it lowered the tax rate that had initially been suggested. The final version of the bill recommends 12%, a drop of 6%. As such, there’s also a chance that the new casino bill could see a reduction in the Gaming and Betting Inspection Fee.

With the year drawing to a close, there’s virtually no chance that the bill will make an appearance in front of the CCJ. Once it does, it still needs a plenary vote and approval before heading back to the Chamber of Deputies.

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The operation focused on establishments in the communities of Atlántico, Magdalena, Cesar, and Guajira. In conjunction with local law enforcement agencies, Coljuegos seized 778 items, including slot machines, gambling devices, televisions, and technological equipment valued at approximately COP3 billion (US$756,000).

The crackdown on illegal gambling comes as Coljuegos seeks to strengthen its enforcement efforts in the country. It comes just days after the regulator announced that it would target illegal slots, which Coljuegos says, deprive the government of at least COP945 billion (US$238.14 million) in tax revenue.

Widespread Disregard for the Law

Coljuegos president Marco Emilio Hincapié said in a statement that the operation targeted two major illegal gambling venues, Azar Games and Atlantis Games, located in the city of Valledupar. They had evaded paying around COP50 billion (US$12.5 million) in gaming licensing fees annually since they opened. These resources, Hincapié emphasized, should have been allocated to support the country’s health care system.

Hincapié highlighted the significance of this operation, stating that it represents the largest seizure of illegal gambling equipment Coljuegos has conducted since its inception. He commended the efforts of Coljuegos staff and law enforcement partners in carrying out the operation. In addition, Hincapié emphasized the regulator’s commitment to safeguarding the interests of Colombian citizens and upholding the rule of law.

Colombian Regulated Gaming Rises

In 2023, Coljuegos achieved a significant milestone in the legal gaming industry by recording a 27.5% increase in revenue allocated to the health care sector. This translates into approximately US$200 million in revenue that will be used to support the Colombian health care system.

This positive development highlights the online gaming industry’s vital role in supporting essential public services in Colombia. The tax revenue and contributions from the regulated gaming space fund various state-led agencies. Among these are state and local health funds and the Ministry of Science, Technology, and Innovation. This ensures that the revenue from the online gaming industry will improve the quality of health care services available to Colombian citizens.

The post Illegal Gambling Machines Seized in Record Numbers by Colombia appeared first on Casino.org.

The primary goals include fostering a competitive market in light of existing legal gambling options in the country and ensuring player safety and health. It’s also an attempt to bring greater transparency to the market and capture the tax revenue that is currently heading offshore.

The initiative aims to administer licenses to online gaming operators, emphasizing adherence to requirements to prevent crimes, money laundering, and the protection of users, particularly minors. It’s good news for operators, who only recently found themselves being forced to stop operating in the country.

Greater Operators Oversight

To identify platform owners, the new regulations will mandate disclosure of their final beneficiaries, enhancing transparency in fund origins and destinations and preventing conflicts of interest. The project outlines a regulatory structure that balances incentives for compliance and imposes severe penalties on illegal operators.

The Superintendency of Casino Games (SCJ, for its Spanish acronym) will receive additional powers to oversee the emerging sector. In addition, the Commission for the Financial Market, the Internal Revenue Service and the Financial Analysis Unit will also play larger roles.

A National Responsible Online Betting Policy will be established, involving the SCJ, along with the ministries of Finance and Health. This policy aims to ensure responsible gambling practices, prevent gambling-related issues, and set guidelines for operator advertising and promotion.

Specific regulations will safeguard young children and adolescents, prohibiting them from opening or maintaining accounts without proper identification. Betting operators must not encourage their participation and cannot employ advertising or promotions that may target them. Additionally, using any payment instruments in their name will be entirely prohibited.

Furthermore, the legislation prohibits betting on individuals with an impact on outcomes, such as players, athletes and organizational leaders. It also addresses the manipulation of betting objects to influence uncertainty. This means a ban on betting on yellow or red cards in soccer and similar actions.

New Tax Plan

Chile’s Chamber of Deputies agreed that online gaming falls under the “digital entertainment service” category. As such, online operators will have to pay VAT like their land-based counterparts, at a rate of 20%.

However, there will be additional tax requirements. The bill introduces a 2% annual tax on gross income from bets for authorized platforms, with proceeds benefiting the National Sports Institute. Distribution of the funds includes sports federations, the Olympic Committee, and the Paralympic Committee.

This is in addition to another increase in the tax rate of 1%. The legislation added this boost in order to cover the costs associated with the creation and maintenance of Chile’s responsible gambling initiatives.

The Chamber of Deputies pushed through the legislation quickly, an indication of the urgency with which Chile wants to advance the project. As the bill heads to the Senate, however, its progress may slow down, particularly because of the holiday period.

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The Chamber of Deputies approved the bill in September, and the Senate has been working on it periodically since then. The Senate’s updated version of the legislation will now go back to the Chamber of Deputies for another review.

Most of the language, amendments, and transformations included by the Senate survived Tuesday’s vote. However, they also now have to survive the return trip to the Chamber of Deputies.

What’s Included

For companies seeking to operate in this burgeoning field, a specific license for online or physical betting, or a combination of both, will be necessary. The Ministry of Finance will be in charge of issuing the licenses, which are valid for five years and could cost up to BRL30 million (US$6 million).

To qualify for a license, companies must meet certain criteria, including maintaining their headquarters and administration within Brazil. They also must adhere to technical and cybersecurity standards, appoint a member with expertise in the field, and implement internal control measures for customer service.

Notably, the reduction in the tax on companies’ revenue survived. Instead of paying 18% as some lawmakers wanted, sports betting operators will pay 12%, according to the approved text.

Concerning the taxation of bettors’ winnings, the proposed reduction from 30% to 15% has financial implications for the federal government. It initially anticipated revenue ranging from BRL2 billion to BRL6 billion (US$402,600 to $1.2 million) in 2024, but may now have to accept around half that amount.

Among the stipulations, gaming operators are required to establish a customer service channel, either by telephone or the internet. This must be free of charge and is designed to address and resolve queries and requests related to betting.

What’s Not Included

The bill’s legislative journey faced delays as senators grappled with the inclusion of virtual casinos in the proposal. Although online casinos are currently prohibited in Brazil, their operation persists because of the foreign headquarters of the companies involved. Users can easily create accounts on these platforms and declare they’re of legal age to access games like slots, roulette, blackjack, and poker.

As a result, some senators advocated for the removal of online gambling from the bill in response to the concerns raised by these investigations. They won the battle and, for now, regulated iGaming still isn’t welcome in Brazil.

It’s not dead, however. Senator Carlos Portinho, who was behind the move to drop iGaming, suggested it could return as a standalone bill.

The post Brazil Senate Greenlights Sports Betting Legislation, Rejects Online Gambling appeared first on Casino.org.

The regulator, aiming to curb potential revenue losses, estimates that as many as 50K unauthorized slot machines may operate across the country, costing Colombia approximately COP945 billion (US$238.14 million). This figure represents one-third of the entire legal gaming market.

The regulator is also considering the introduction of limits on the amount of prizes offered by these slots, aiming to standardize and regulate the industry further. Additionally, new rules governing the supply of slot technology in the country, aimed at enhancing oversight and ensuring compliance, are on the table.

Limited Time for Feedback

Coljuegos has opened the floor for industry feedback on these proposed measures, but the window for commentary is limited. Stakeholders and industry players have until this Thursday to provide their insights and perspectives on the potential changes.

After receiving and analyzing the feedback, the regulator will begin rolling out the updated rules, laying out new financial obligations, and publishing information on approved venues. That list will include only new entities, meaning none that don’t already work with Coljuegos.

Recent Resignations

The crackdown on unauthorized slot operations aligns with Coljuegos’ commitment to improving the integrity of the gaming industry in Colombia. It’s also the latest attempt by the regulator to prove itself. It has dealt with several issues this year, including corruption claims, that have chipped away at its image.

Part of the issue has also been the revolving door at the organization’s top. The year started with Roger Carrillo Ocampo serving as Coljuegos’ president, but he left after publicly criticizing the government.

Upon his resignation in May, Sammy Libos Zu?iga stepped in. At the time, he served as the Deputy Director of Fiscal Policy of Colombia’s Ministry of Finance and Public Credit. While it was revealed at the time that Zu?iga was entering only on an interim basis, there was a chance that the economist would also be given a permanent position.

That changed in July when Marco Emilio Hincapié Ramírez, a lawyer and the former GM of the Bogotá Lottery, became the third president of the year upon his appointment by Colombia President Gustavo Petro. Hincapié is also the fourth president to serve since the entity was founded in 2012.

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On Tuesday, many senators requested a delay, citing the complexity of the issue and a low quorum that hindered a comprehensive discussion. Senate President Rodrigo Pacheco accepted the request and rescheduled the vote for December 12.

The low quorum resulted from the absence of senators participating in COP28 (UN Conference on Climate Change) in the United Arab Emirates. Given that COP28 runs through December 12, a vote on the bill on that day doesn’t seem likely.

Time Running Out

On November 29, maneuvers by senators opposed to the project led to the initial postponement. Moves by Senator Angelo Coronel, who supported the matter and who rejected last-minute plenary amendments, didn’t sit well with some of his colleagues.

Since then, delays have been the normal course of action, with senators inventing new reasons why they couldn’t discuss the legislation.

The latest reason – the physical absence of some senators – doesn’t hold up to scrutiny any better. The Senate has been conducting sessions short-handed since last week.

After the first delay, Pacheco emphasized that Senators needed to vote on the project, initiated by the Executive Branch under a provisional measure, within 45 days. That led to all other legislative discussions being put on hold.

Time is now of the essence, with the senate having until December 21 if they want to reach a decision this year. The parliamentary recess begins on December 23. Senator Angelo Coronel affirmed the chamber’s commitment to making a concentrated effort to approve this and other pending proposals in the coming weeks.

Millions of Dollars at Stake

Per Coronel’s report, approved two weeks ago, companies in the sector will face a 12% tax on game-related income, a reduction from the Chamber of Deputies’ approved 18% rate. The concession period will be for five years at a cost of BRL30 million (US$6.1 million).

Players will pay a 15% income tax on prizes they win. That amount will only apply to premiums exceeding the initial range of Brazil’s annual progressive tax table, which is currently BRL2,112 (US$432).

Coronel, in an interview with TV Senate, stated, “We are not inventing anything. The game has existed for many years, but clandestinely. With regulation, everything will be fine, as both companies and players will be taxed.”

The bill holds great significance for the federal government, with Finance Minister Fernando Haddad actively promoting it. The government aims to expedite parliamentary processes to ensure the law’s enactment next year.

The goal is to allow sports betting and possibly iGaming to contribute to the budget so Brazil can reach its goal of achieving a “zero deficit.” However, the latest delay poses a time constraint, risking the law’s promulgation before the legislative year’s end if further setbacks occur next week.

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On October 27, the Ministry of Finance in Brazil introduced a measure outlining the general conditions of sports betting operating?in the country. This initiative specified that entities interested in acquiring a license must submit a prior expression of interest within 30 days of the announcement.

Of the submissions, 52 expressions of interest were presented to the Ministry of Finance almost immediately. They were part of a group that submitted their paperwork in the days following the publication of the measure and the approval of the sports betting bill by the Senate’s Economic Affairs Committee (CAE, for its Portuguese acronym).

Another 82 were submitted post-CAE approval, bringing the cumulative total to 134. For comparison, the U.S. has 40 licensed sportsbooks, with a market worth around $83 billion.

What’s Next?

With an estimated 5-year license cost of BRL30 million (US$6 million), this could generate nearly BRL4 billion (US$813 million) in government revenue from license fees alone. This is in addition to the tax revenue and economic benefits it will receive.

Even then, there are hurdles to jump. As the legislation currently reads, an operator must have a permanent office in Brazil. It may also need to find a local to onboard as a partner. Of the 134 interested companies, it’s likely that at least a few won’t meet these and other requirements.

iGaming, Casino Discussion Still in the Works

While awaiting a Senate vote on the sports betting bill, another gambling legislative proposal, Bill 2234/2022, is up for debate. It addresses various aspects, including resort casinos, bingo parlors, and online gaming.

This legislative proposal has faced delays in the Senate since February 2022 despite receiving initial approval in the Chamber of Deputies in 2018. Senator Davi Alcolumbre, the president of the CCJ, expressed his intention to organize extraordinary sessions this week to address pending agenda items, including Bill 2234/2022.

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The individuals in the case, dubbed “YachtGate,” include Martín Insaurralde, the former Buenos Aires Province Cabinet Chief, and his ex-wife, television host Jésica Cirio. Insaurralde’s high-profile model girlfriend, Sofía Clérici, is also part of the investigation.

During the search at Casino Victoria, investigators stumbled upon invoices totaling ARS11.2 million (US$31,068), issued by the casino to a TV program Cirio produced in 2022. Both invoices, amounting to about ARS5.6 million (US$15,534) each, were marked as unpaid in the casino’s records.

Connecting the Dots

The TV program in question, titled The Women of the National Team, was broadcast in December 2022, coinciding with Argentina’s participation in the FIFA World Cup in Qatar. Authorities believe the program may have played a role in securing and preserving Daniel Mautone’s control over gaming licenses. Mautone owns Casino Victoria, as well as numerous other gaming halls throughout Buenos Aires.

Despite discovering the invoices, investigators have yet to determine the payment details. The invoices span from Dec. 7 to 30, 2022, with no information on where the money was directed. Additionally, discrepancies exist between the reported payments by the casino and what the TV program allegedly received, prompting investigators to seek clarification.

The case unfolds as authorities face obstacles in accessing crucial evidence from Clérici’s cell phones, seized during search warrants at her residences in Tigre and Vicente López in October. Computer forensic specialists are attempting to unlock the phones as they examine two tablets and five thumb drives belonging to Insaurralde.

Investigators are currently leaning toward the crime of illicit enrichment, with insufficient evidence to support submitting money laundering charges. However, authorities anticipate collaboration from the U.S., suspecting that significant assets belonging to Cirio and Insaurralde might be hiding there.

Strong Ties Between Insaurralde and Mautone

Helping build the case against Insaurralde is evidence that has come to light about trips he made during his time as a government official. The investigation determined that Casino Victoria paid for a part of the large number of flights he took.

The Justice Department took a closer look at Insaurralde’s travel schedule and found that none of the trips were official. Therefore, the only conclusion is that he was making private trips, with Mautone footing the bill for them.

Authorities have yet to determine the nature of the trips. However, they suspect that they could be part of the covert bribe. As the investigation continues, they expect to be able to put more of the pieces together.

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Brazil’s Senate plenary was to vote Wednesday on the bill, aimed at regulating the fixed-odds sports betting market and online casinos. Instead, according to an announcement on its website, it decided to table the discussion one more time.

There had been a small glimmer of hope that the Senate would make progress and send the bill back to the Chamber of Deputies in November. That is no longer a possibility, nor is it clear when the Senate will hold its vote.

Anti-Gambling Senators Continue Block

The primary point of contention revolves around the inclusion of online casinos in the bill, particularly drawing criticism from opposition senators. The opposing group asserts that the proposed legislation lacks proper regulation for the online casino sector, and voices concerns over the absence of clear guidelines for the supervision of online gambling.

In response to the opposition’s concerns, Senator Veneziano Vital do Rêgo, the vice-president of the Senate, presided over the session in the absence of Senate President Rodrigo Pacheco. The latter is currently in Dubai for COP 28, the United Nations Conference on Climate Change.

At the request of the opposition, the Senate called off the vote, and no specific date for resuming the voting process has been set. It’s expected the vote will be added to the schedule upon Pacheco’s return next week.

This delay, one of many the Senate has implemented, is causing apprehension within the government, as the bill is a key priority for the economic team in their efforts to boost revenue in 2024.

More Debate Ahead

Coronel has introduced several modifications to the proposal. Should the text receive approval by the Senate, the Chamber of Deputies still has to receive it for further examination and approve it as well.

Furthermore, the project outlines the establishment of advertising regulations within the sports betting and iGaming sectors. Overseeing the creation of the ad regulations would be the Ministry of Finance, which will also assume the responsibility of supervising all betting and gambling activities.

The legislative discussions resurfaced in Congress amid a Parliamentary Commission of Inquiry that is scrutinizing the sports betting market. The inquiry follows investigations that have uncovered evidence of companies in the gaming sector, and others, deliberately manipulating the outcomes of soccer matches.

That inquiry, as well as an investigation by Brazilian authorities, continues. A number of soccer players have already been identified as participants in the scheme. But more names will likely surface in the coming weeks.

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The Special Action Group to Combat Organized Crime (Gaeco, for its Portuguese acronym) spearheaded the operation, receiving support from a number of government agencies. Among these are the Institutional Security and Intelligence Coordination (CSI), the Military Police of Goiás, the Cyber ??Gaeco of the Public Ministry of S?o Paulo, and the Gaecos of the States of Mato Grosso do Sul, Paraíba, and Rio de Janeiro, according to the MP-GO.

One of the focal points of the operation was a game in the 2022 Brazilian Championship between Flamengo and Avaí. Avaí emerged victorious with a 2-1 win, but there were always concerns about how it pulled off the victory.

No End to the Investigation

In this latest round of actions, an extension of the preceding Operation Maximum Penalty stages, 10 search and seizure warrants were executed in Goiania, Bataguassu, Campina Grande, Nilópolis, Santana do Parnaíba, S?o Paulo, Volta Redonda, and Votuporanga. In addition to the Flamengo-Avaí match, the investigation includes two matches from the 2022 Brazilian Championship’s Series B league – Náutico vs. Sampaio Corrêa, and Náutico vs. Criciúma.

In previous investigations, players implicated in other matches faced various penalties, ranging from fines to permanent bans from the sport. Of those, Gabriel Tota and Matheus Gomes received the harshest penalties and can never again play professional soccer in Brazil.

Brazilian Football Gets Some Help

In a concerted effort to combat match-fixing in soccer, the Brazilian Football Confederation (CBF, for its Portuguese acronym) and the Federal Police (PF, for its Portuguese acronym) have joined forces.

Ednaldo Rodrigues, the president of the CBF, informed soccer officials and state governments across the country this week that the PF will now receive copies of all reports on suspicious cases Sportradar’s game analysis technology detects.

The alliance between the CBF and Sportradar has been a pivotal component of the integrity measures undertaken by the CBF. The two established their relationship in 2017, and renewed it last year for an additional three years.

Under this collaboration, Sportradar annually monitors more than 3,000 CBF-sanctioned matches. This has significantly expanded the scope of Brazilian soccer competitions under its watch. The monitoring extends to the monitoring of Série C and Série D league games.

The partnership includes the provision of Intelligence and Investigations Services. By now aligning efforts with the PF as well, the CBF is fortifying its commitment to addressing match-fixing and corruption. It will hopefully continue to root out the criminal organizations that have been behind the match-fixing crises.

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Miguel ángel Ochoa, president of the Association of Permit Holders, Operators, and Suppliers of the Entertainment and Gambling Industry in Mexico (Aieja, for its Spanish acronym), laid out some of the battle plans this week. He told local media outlets that the defense strategy will tackle two fronts: safeguarding the industry’s interests, and advocating for revisions to the Federal Law on Games and Sweepstakes.

On November 16, the federal government issued a decree through the Official Gazette of the Federation (DOF) declaring a halt to the issuance of new permits and the nonrenewal of existing ones for slot machine operations. Aieja argues that the unilateral decision is going to paralyze the regulated gaming industry, as well as the country.

Slots Mean Big Money

Slots constitute a substantial 85% of the industry’s business. The imposed restrictions could potentially translate to a staggering loss of MXN12 billion (US$700.32 million) in revenue for the current federal government.

Consequently, Ochoa confirmed that Aieja will pursue legal channels to prevent the medium-term closure of businesses. The impending impact is forecast to be particularly harsh on the majority of casinos, with their permits set to expire between 2028 and 2033. A blanket restriction on slot machine permit renewals is scheduled for 2038.

Aieja has highlighted that Mexico’s Federal Law on Games and Sweepstakes hasn’t been significantly altered in about 80 years. Instead of a knee-jerk reaction that eliminates slots, it believes the common-sense approach would be to first update the country’s gambling laws.

A Death Blow to Casino Employment

During the evaluation of the proposed regulations, casino operators voiced concerns that the measures would not only curtail gaming options, but also potentially repel customers from these entertainment hubs. They even highlighted feedback from industry workers who expressed apprehension about the uncertain fate of their employment.

Ochoa emphasized that the gaming industry has been engaged in ongoing dialogues with the Ministry of the Interior and legislators. Aieja hopes to initiate discussions on new regulations starting next February during the last session of the current Congress.

The goal is to foster an environment where the concerns of the industry are taken into account, and a balanced approach is adopted to address regulatory imperatives and the sustainability of businesses in the sector.

A Glimmer of Hope

Getting President Andres Manuel Lopez Obrador to change his mind isn’t likely. But Mexico’s gaming industry has a potential lifeline. Presidents can only serve one six-year term in Mexico, and Obrador is out next year.

Sheinbaum led a reform as the mayor of Mexico City to stabilize the taxes gaming operators paid. She recognized the contributions of the industry to the government, which could be helpful as Aieja looks for support.

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Princess Cruises, a subsidiary of the Carnival Corporation, announced Tuesday that the Sun Princess will feature 50% more casino floor space and 30% more gaming positions than the line’s Royal Class of ships.

Sun Princess is set to sail in February 2024. The ship is nearing completion in Italy at the Fincantieri shipyard in Monfalcone.

Casino lovers, high rollers, or simply those wanting to try a hand during their vacation will be stunned by the new Princess Casino onboard Sun Princess,” said John Padgett, president of Princess Cruises. “Princess has embraced the casino experience and is proud to offer such exciting gaming surrounded by absolutely world-class dining and entertainment.”

The Princess Casino aboard the Sun Princess is located on deck eight adjacent to the Piazza. The Piazza serves as the grand atrium and heart of Princess ships. The company says the Piazza is each ship’s “stunning centerpiece.”

The casino floor will measure nearly 9,000 square feet and offer 227 slot machines and 13 live dealer table games.

Casino Value

Once cruise ships venture into international waters, gaming is permitted. Casinos aboard major cruises like the ones operated by Carnival and its subsidiaries are regulated by the Cruise Lines International Association (CLIA), which models its regulations on rules crafted and implemented by the Nevada Gaming Control Board.

Nearly all Carnival cruises have casinos. The gaming play commences once the ships reach international waters, which the United States Department of Commerce’s Office of Coast Survey defines as being 24 nautical miles off the contiguous U.S.

The Sun Princess Casino will include linked blackjack and poker table game progressives, and slot progressives. The casino will additionally feature a high-limit slot area with “high-end seating.”

Sun Princess’ inaugural voyages include cruises to the Mediterranean, Europe, and the Caribbean.

Sun Princess is a 175,500-ton, 21-deck vessel with 2,150 guest cabins. The ship spans 1,133 feet in length and features an array of entertainment and attractions, including a ropes course, splash pad, and Sea Breeze Rollglider that allows guests to hang-glide around the ship on the top deck providing panoramic views.

New Casino, New Games

In the Princess Cruises press release, the cruise operator says the Sun Princess gaming floor will be equipped with the latest slots titles. That includes a first-of-its-kind Buffalo Zone at sea, a designated area of the casino floor where numerous Buffalo-branded slots will be placed.

Along with the Buffalo games, Princess Casinos heavily incorporate other titles from Aristocrat Leisure. For the Sun Princess Casino, that additionally includes a new version of the company’s popular Love Boat title, a themed slot based on the rom-com television series that ran from September 1977 until May 1986.

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The incident unfolded in the tourist area of Tijuana, Baja California, which is exceptionally susceptible to violence. A nondescript commercial establishment, suspected of operating as an illegal casino, became the epicenter of a fire on the afternoon of November 22.

The calamity resulted in the loss of two lives, while another individual suffered severe injuries. The site, situated at the intersection of Pacífico Avenue and Granizo Street in Playas de Tijuana, was blanketed by firefighters who successfully brought the blaze under control.

No Leads, No Evidence

Within the charred remains of the premises, two lifeless bodies were discovered, though their identities remain unknown. Eyewitness accounts suggested that the tragedy might have been triggered by two individuals on a motorcycle, who purportedly hurled a Molotov cocktail at the building before hastily fleeing the scene.

https://twitter.com/Eco1_LVM/status/1727730689125040626

That’s the only clue the authorities have to go on. The motorcycle passed by the structure and reportedly threw something at it before fleeing. Moments later, the building turned into a fireball.

The State Prosecutor’s Office has launched an inquiry into the circumstances surrounding the fire. However, so far, investigators have no leads, no suspects, and no additional information. They don’t know if it was a targeted hit against one of the individuals inside the property, or against the property itself.

Tijuana’s Troubles Continue

Tijuana has continuously grappled with a complex and challenging criminal situation, marked by factors such as drug trafficking, organized crime, and violence. Situated along the US-Mexico border, the city has often been a focal point for illicit activities because of its strategic location and economic significance.

The city’s proximity to the lucrative drug market in the U.S. has made it a hotspot for trafficking operations. Competition among rival cartels, such as the Sinaloa and Jalisco New Generation cartels, has resulted in power struggles and violent confrontations.

Additionally, Tijuana has faced issues related to organized crime involvement in activities like extortion, kidnapping, and human trafficking. These criminal elements often exploit the vulnerabilities in the region, contributing to a climate of fear and insecurity among the local population.

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The proposal establishes rules for the operation of sportsbooks across Brazil, and a 12% tax on operators, according to an announcement on the Senate’s website. This is lower than the 18% that had recently been included after the Chamber of Deputies suggested 5%.

The version the CAE approved also recommends a 15% tax on the amount bettors win. This is also a reduction, with Brazilian Minister of Finance Fernando Haddad previously wanting the rate to be as much as 30%.

The committee also approved a request that calls for an urgent vote on the proposal in the Senate. That vote could take place next week.

Closer to the Finish Line

The proposed rules must apply to so-called fixed-odd bets on real sporting events — that is, games in which the bettor knows, at the time of betting, how much he could win if he is right. It is also valid for online gaming, such as casinos.

The project is one of the Ministry of Finance’s bets to increase the country’s cash flow next year. The Treasury has given its approval to proposals that will help achieve the fiscal target of zero deficit in public accounts in 2024 without increasing public debt to meet expenses and investments.

The changes the CAE approved will likely impact the Treasury’s initial revenue projection, which it had said could produce up to BRL700 million (US$142.66 million) next year. Senator Jaques Wagner, a close ally of President Luiz Inacio Lula da Silva, said that the Treasury should carry out new studies and that there was no “controversy” with the reduction in taxes.

In the case of bettors, the tax will only be paid once a year, and through Personal Income Tax (IRPF, for its Portuguese acronym). Taxation will only apply to winnings, minus the amount wagered, that exceed the IRPF exemption table, currently at BRL2,112 (US$430).

Operators Pick Up Wins

The reduced tax rate for operators, if it survives further scrutiny, isn’t the only victory they’ve received. The current text states that online operators will pay up to BRL30 million (US$6.11 million) for a license, depending on subsequent regulation by the Ministry of Finance.

The approved text provides for an authorization process and a series of requirements for online betting companies. It will be up to the Ministry of Finance to sign off on the operations.

To request permission, the company must have its headquarters and be incorporated in Brazil. The process will be based on the analysis of documents, reputation, and the company’s technical and financial capacity.

One of the recent amendments included a requirement that a company must have a Brazilian with at least 20% of the share capital as a partner. That requirement still stands.

There still haven’t been a lot of details about how the online gambling segment would work. However, the fact that the language is part of the bill is good news.

If the Senate plenary approves the reforms, the bill will return to the Chamber of Deputies. There, it will need to be approved once more before it can be ready for conversion into law.

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The delay stems, in part, from a lengthy list of amendments and changes that have been introduced to the bill, which had received approval from the Chamber of Deputies in September. One of the key points of contention revolves around the proposed tax rates on sports betting companies.

There are at least 30 amendments that have been inserted into the text. This is affecting progress and lengthening the odds that the bill will be completely approved this month.

Rewriting the Book

The original text of the bill called for an 18% tax. But Senator ?ngelo Coronel, the CAE’s administrator of the bill, reportedly altered it to 15%. Coronel reportedly made a few other changes as well, including a significant reduction in the taxation of winners in fantasy sports contests. The Brazil Senate explained in a news release that he’s advocating for a decrease from the initially proposed 30% tax to a mere 15%.

The tax change has also caused a dilemma in the Senate. The federal government had initially estimated a substantial financial boost from the taxation of sports betting, projecting revenues ranging from R$2 billion to R$6 billion (US$408 million to $1.22 billion) in 2024.

Additionally, Coronel added a measure that would require another change to the structure of sports betting operators. Companies would need to have a Brazilian partner who holds at least 20% of their share capital.

iGaming Legislation Still Alive

A separate section of the bill would lead to the creation of an online casino market in Brazil, although the details are still rough around the edges. As is the case with sports betting, online gambling would be able to be operated exclusively by companies based in the country and comply with the requirements set out by law.

Unregulated online gaming is alive and well in Brazil. Legalizing the activity would bring more security, reliability, and transparency to the sector.

The regulation also includes protection for players from possible negative side effects of the illegal activity, such as fraud and scams. In addition, it would give the government the opportunity to introduce controls and measures to properly address gambling education and harm.

It’s possible that the CAE will vote on the bill on Wednesday, although it has already delayed the process several times. The Senate can’t put the legislation to a vote until the committee wraps up its review. Even then, provided it survives a full Senate vote, the bill must return to the Chamber of Deputies for further approval of all the changes.

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The measure seeks to ensure greater regulation and control, as mandated under the Federal Law on Gaming and Lotteries. At the same time, it’s also a jab by Obrador at former president Felipe Calderón, who he believes may have corrupted the gambling ecosystem.

The forthcoming reform will not be applied retroactively. As a result, casinos that currently operate slots sanctioned during Calderón’s tenure will retain the ability to use them until their concession ends. However, these privileges shall only endure for a maximum of 15 years, regardless of any previous agreements with the government. Once this timeline elapses, these rights will not be eligible for renewal or extension.

Rewriting the Book on Slots

On Thursday, the Official Journal of the Federation, the government’s official notification outlet, published a notice that changes the language of the Regulations of the Federal Law on Games and Sweepstakes. In line with Obrador’s wishes, it explicitly categorizes a slot machine as any mechanism employed by players to place wagers in anticipation of winning a prize.

It doesn’t matter if the player uses cash or any alternative payment method – anything that even closely resembles a slot is now illegal. This legislation effectively annuls the previously existing regulations that sanctioned the usage of these machines, thereby prohibiting all forms of gambling that were previously approved by law.

Prohibiting the utilization of slots is not the only measure that has been implemented. Another criterion for exclusion involves the total count of operators in the gaming ecosystem. Those with an active license can continue to operate, but they will not be eligible for permit extensions or renewals.

In addition, there are a handful of operators who have received licenses but who have yet to open their businesses. Unfortunately for them, those licenses are now invalid.

The enactment of this law further stipulates that the issuance of new licenses for casinos shall be prohibited. Furthermore, the licenses granted for establishing and running betting centers at racecourses, frontons, remote betting centers and any other previously designated areas will have a maximum existence ranging from one year to a maximum of 15 years.

A New Direction

In 2012, Calderón enacted legislation authorizing the Ministry of Interior (Segob, for its Spanish acronym) to issue permits for slots. Subsequently, in 2016, Mexico’s Supreme Court provided its consent for the installation of slot machines within casinos. The ruling declared that these machines are considered legal when operated as raffle games rather than games governed solely by chance or skill.

However, what’s to follow remains controversial. Mexico has had, for a long time, a problem with illegal casinos. There’s a concern that this segment will see an increase in activity with the loss of regulated slot machines across the country.

What is almost guaranteed through the ban is an increase in online gambling. Mexico’s iGaming segment has become increasingly popular and will see even more traffic as slot fans look for alternatives.

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The Chief Minister of the Secretariat of Institutional Relations, Alexandre Padilha, announced the progress in a statement on Thursday. He said an agreement was signed between the government and the President of the Senate, Rodrigo Pacheco, and other Senate leaders to vote on the bill next week.

About 10 days ago, the chamber’s Sports Committee gave its approval for the language, which has undergone several revisions, before passing it to the EAC. The Chamber of Deputies approved the bill in September before sending it to the Senate.

The agreement to vote next week came after the government agreed to remove the “urgency stamp” from the proposal. That figurative stamp blocked the voting agenda of the Senate plenary since November 11, which prevented the analysis of any other matter.

Regulation Language

The bill regulates sports betting online and in commercial establishments. It also defines the taxation regime, putting the tax rate at 18%. This is significantly higher than the bill’s initial version and has been controversial among lawmakers.

The Ministry of Health will start receiving 0.5% of the tax revenue. However, this allocation is specifically for developing responsible gambling prevention and treatment programs.

The Ministry of Finance’s expectation is to raise up to BRL12 billion (US$2.46 billion) per year in tax revenue for the state.

Optimistic Economic Goals

Amid the debates around legalized sports betting, one of the biggest discussions is the economic contribution it will bring. Some people within the industry believe that 7,000-12,000 new jobs could emerge in the short and medium term once the regulation is definitively approved.

The regulation of sports betting in Brazil, projected to be the largest market in Latin America, will create a huge range of opportunities to grow the market. Generating new jobs will also allow for the creation and training of specialized professionals, which will likely lead to even more possibilities for economic growth.

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Strendus, the online gaming platform of the Mexican conglomerate Logrand Entertainment Group, allegedly offered public access to 85GB of its server authentication logs. These contain hundreds of thousands of entries with private information about gamblers.

Cybernews, which employs a team of white-hat hackers to scour the web for problems like this, highlighted the potential risks associated with the exposed information. It emphasized that careless oversight could be exploited for fraudulent activities, identity theft, or phishing attempts. It can even serve as a valuable resource for meticulously targeted cyberattacks.

Prolonged Exposure

The researchers identified Indicators of Compromise (IoC) within the server log entries, indicating a security incident or breach. The absence of regular monitoring for such indicators further heightened the risks for users. While the research points to a possible data theft, there is no hard evidence that anything was taken.

The delay in addressing the issue is of particular concern, as Cybernews first identified the breach in April. Strendus, however, only took action to rectify the situation in October. The prolonged exposure period underscores the potential threat to users with personal information laid bare for months.

Online casinos store extensive customer data to comply with gambling laws and adhere to Know Your Customer (KYC) regulations. These regulations are designed to verify the identity of users, thus preventing fraud, money laundering, and other illicit activities. The recent breach raises questions about the effectiveness of security measures implemented by these platforms.

The onus is for companies to prioritize and enhance their security protocols to protect their users from harm. There appears to be no indication that Strendus took the flaw seriously.

Cyberattacks on the Rise

The alarming rise in cyberattacks is evident with recent breaches targeting major entities like MGM Resorts International, Caesars Entertainment, and (possibly) Marina Bay Sands. These high-profile incidents underscore the escalating threat posed by cybercriminals.

Similarly, the breaches at Caesars Entertainment and Marina Bay Sands emphasized the vulnerability of even the most prominent organizations to sophisticated cyber threats. As countries collaborate to enhance cybersecurity measures, the dynamic nature of cyber threats necessitates continuous innovation to stay ahead of increasingly intelligent and adaptable hackers. This also means ensuring they don’t have free and unfettered access to company equipment.

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Out of the $6.2 million investment, $2.5 million has been allocated to construction. The remaining $3.7 million will go toward acquiring 150 new gaming machines. This addition will bring the total number of machines to more than 650. Casino Metro will introduce six more gaming tables, including four blackjack tables and two roulette tables.

Casino Metro also plans to invest additional funds in new amenities such as bathrooms, an entertainment platform, and a redesigned bar and lounge. This second phase of expansion is scheduled for 2024.

About Casino Metro

Casino Metro’s general manager, Ismael Vega, spoke to local media about the changes, stating the renovations will add new gaming options and help increase customer satisfaction.

The expansion initiative, underway for the past two years, began in the former space of the Metropol restaurant. It’s adding 7,000 square feet to the existing 23,000-square-foot area.

The casino’s sports betting division, Metro Bets with Caesars Sportsbook, marks its first anniversary in December. A company statement states that 5,500 clients are registered for the in-person operation. An additional 2,000 registered customers use the online platform, which has been active for the past three months.

Casino Metro is the self-proclaimed largest casino in Puerto Rico and the Caribbean.

San Juan Casinos Catch a Break

Casinos in San Juan are breathing a collective sigh of relief following clarification of a potentially damaging reform. The city’s new Public Order Code, announced this past August, establishes a curfew and cuts off alcohol sales everywhere during certain hours.

That doesn’t mean the casinos will open the taps and let it rain alcohol. Vega told El Vocero that operators have agreed to take a responsible approach and will control sales independently.

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Operational since 2008, Ponce Plaza Casino has been a consistent player in the Puerto Rican casino scene. With the addition of a sportsbook, it aims to cater to the growing demand for sports betting services.

The partnership with IGT signifies a significant step in expanding the casino’s technological capabilities and providing patrons with an enhanced gaming experience. It also helps IGT further develop its presence in the U.S. territory, having already been the casino’s gaming technology provider for years.

Shaping Puerto Rican Sports Betting

While the financial details of the deal weren’t disclosed in the press release, both parties expressed enthusiasm about the collaboration and the positive impact it is expected to have on the Puerto Rican gaming landscape.

IGT’s PlaySports technology has become a stalwart in the sports betting industry, offering a comprehensive platform for operators. Its technology encompasses a range of features, including seamless user interfaces and real-time data feeds to provide users with an immersive and efficient betting experience.

The company, which already enjoys a global footprint, also expanded earlier this year in Nevada. It connected with Betfred for the use of PlaySports at the Mohegan Sun Sportsbook inside Virgin Hotels Las Vegas.

Ponce Plaza Gets a Makeover

Ponce Plaza Casino is owned by global hospitality group Travel + Leisure Co.

The casino expansion introduced an array of new services and entertainment options to patrons. Among the notable additions was the revival of the Viva Casino Bar, and now, the introduction of sports betting. In a strategic move to attract a younger demographic, the casino also incorporated a new bar, a dynamic dance floor, and an upgraded stage for live performances.

The ambitious renovation project is anticipated to contribute significantly to the local economy. Ponce Plaza previously indicated that it would create 200 new direct job opportunities, marking a substantial increase from the 30-person workforce.

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The warrant allowed the Gendarmerie to demand documentation from the casino, located in the City of Rosario. It previously failed to respond to a prosecutor’s request to turn over the documents.

The raid focuses primarily on Insaurralde, but also targets his ex-wife, television host Jésica Cirio, who also has alleged ties to the money laundering scheme, although the investigation hasn’t yet produced evidence that would be admissible in court.

Worlds Come Crumbling Down

Last year, Cirio hosted a television program known as Mujeres de la Selección?(Women of the National Team). In the program, which Casino Victoria sponsored, Cirio visited the wives of the players of the Argentine national soccer team in cities across Europe.

Insaurralde came under fire recently for his extravagant lifestyle and questionable spending. As a result, the casino, owned by local business mogul Daniel Mautone, became a focal point of a larger investigation.

Mautone owns casinos and several bingo halls across Argentina. He has also allegedly helped control the Lottery of the Province of Buenos Aires, where people related to Insaurralde report.

The suspicion is that this sponsorship was actually a covert bribe paid to Cirio. The unproven theory is that the money would ensure Mautone would maintain control over all his gaming operations without interference.

Questions began surfacing about how Insaurralde could afford the life he was living, as well as the alleged $20 million he gave to Cirio to settle their divorce.

Investigators raided Clérici’s house at the end of October, confiscating almost $570K. The authorities believe it could be part of the same money laundering activity.

The fallout has led to Insaurralde dropping out of politics completely. He resigned his position and canceled his candidacy as a representative of the city of Lomas de Zamora, where he had previously served two terms as mayor.

Mautone’s Shady Dealings

Mautone, the president of Casino Victoria S.A., is a well-known figure in Argentina’s entertainment and gaming industry. His gambling career began with the opening of various bingo halls and extended to a variety of ventures. Among these are casinos, including Casino Victoria and Casino Maipú de Mendoza, and hotels.

As in the case with other gambling entrepreneurs in Argentina, this has led some to theorize that someone is rigging the accounts. To date, Mautone has not been officially accused of any wrongdoing.

That could change, depending on the direction the investigation takes. Argentine authorities have only begun their deep dive into Insaurralde’s activities, but they’re picking apart his life.

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Originally slated for Tuesday, the Senate Sports Commission abruptly canceled a meeting to deliberate on the legalization and regulation of sports betting. The chamber has provided no explanation for the sudden decision, or an indication of when the talks might be rescheduled.

However, the clock continues to tick, as the Senate’s website displays a looming deadline of November 11 for voting on the bill. That’s two weeks after its initial agenda placement.

Regulated Sports Betting Remains Elusive

The proposed legislation outlines a foundational 18% taxation rate for sports betting companies and online casinos. The legalization of iGaming remains absent from current considerations.

The journey toward regulating betting activities in Brazil commenced with a Provisional Measure published in July this year, marking the culmination of five years of extensive debates. On October 18, the Senate opted to delay its vote following a request for a comprehensive review.

Having secured approval from the Chamber of Deputies, the bill is currently undergoing simultaneous processing by the Economic Affairs Commission (CAE). Once both committees give their approval, the legislation will advance to the Senate Plenary for a final decision.

This leaves stakeholders and the burgeoning sports betting industry in Brazil eagerly awaiting the outcome of this protracted legislative process.

Mixed Reactions

Senator Romário de Souza Faria, a former soccer player and the Senate’s Sports Commission president, had routinely expressed support for the proposition. However, concerns were raised during the legislative discussions about the insufficient time available for a thorough examination.

There has been a struggle within the Senate to find significant support for the bill since before former Brazilian President Jair Bolsonaro lost the election in 2022. Bolsonaro opposed the measure, and had supporters in the Senate who were willing to back him up.

The imbalance continues, and some politicians may be using a poll as the basis of their opposition. On the Senate’s website, Brazilians can vote on their support of the bill. Currently, 1,305 are against it and only 19 are for it.

It’s far from a scientific study, and doesn’t reflect the same results other research has shown. This past May, a different study conducted by Aposta Legal Brasil and OpinionBox revealed that 64% of the respondents are ready to embrace legalized sports betting.

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Ballers is marking a historic milestone as the first truly “domestic” sportsbook in the territory, entirely owned and operated by a Puerto Rican company. Local entrepreneur Daniel de Onta?on, the former CEO of financial services company Insigneo, is at the helm. Assuming the role of director of development is local sports commentator Héctor José Torres Donato.

This venture aims to cater to the diverse interests of sports enthusiasts by offering betting lines on all major sports. However, Ballers distinguishes itself by placing a particular emphasis on local sports teams, with a focus on baseball and basketball.

To cover its technology, Ballers has integrated solutions from Sportradar and Spain’s R. Franco Digital. This strategic move ensures the “greatest integrity, speed and security,” according to the Ballers website.

High Expectations

Ballers anticipates an annual handle ranging between $170 million and $200 million. These figures underscore the company’s ambitious yet calculated expectations as it enters the competitive market. It also signals its confidence in attracting a significant share of the nascent sports betting market in Puerto Rico.

The sportsbook enters a field that already includes Casino del Mar at the La Concha Hotel, which has a retail sportsbook and is also operating an online sportsbook in partnership with BetMGM.

Additionally, Casino Metro has a sportsbook in its casino and has aligned itself with Caesars for its online sportsbook offering. The Stadium, the parent company of WinIn, has partnered with IGT to introduce a sportsbook to the market as well.

Well-Timed Entry

Ballers timed its launch fairly well. It may have missed out on the World Series and part of the NFL season, but it has a great home game to push to bettors on Friday.

Puerto Rico and Panama will face off as part of the Pan American Games. The Pan American Games, a major multisport competition involving athletes from the Americas, provides a platform for nations to compete in various disciplines.

Puerto Rico has won three of the last four contests between the two. It currently sits at the bottom of Group B, while Panama closes out the list for Group A.

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The official document delves into the oversight of marketing strategies for all online operators. It also introduces clauses pertaining to the bidding processes and payments applicable to online players.

Scheduled to take effect on Jan. 1, 2024, these new measures hint at a fresh beginning for the Colombian gaming industry’s marketing landscape. Coljuegos hopes the new authority will better define the market.

Coljuegos Receives More Power

The document emphasizes that Coljuegos assumes the pivotal role of monitoring the advertising landscape within the industry. It cites “Law 643 of 2001,” which establishes the framework for the monopoly on games of luck and chance. This law designates the exclusive authority to the State for the complete oversight of all forms of such games.

The upcoming regulations will be applicable to all operators within the Colombian gaming market, provided they hold the essential Coljuegos license, which binds them to comply with the regulatory standards outlined by the entity. These regulations encompass “all forms and content of communication that aims to influence consumer decisions” in the realm of games of chance.

Given the increasing prevalence of advertising across diverse physical and digital platforms, there is a recognized need to intervene in the operational scope of gambling operators. Coljuegos now has written authority to control the amounts, spaces, and methods employed in promoting all online gambling platforms.

The document incorporates overarching guidelines, including the mandatory identification of advertisers in advertising and the prohibition of endorsing illicit practices. It also imposes limitations on marketing expenditure, tying them to the gross gaming revenue (GGR), and other operator-specific variables.

In a bid for transparency and oversight, Coljuegos can request relevant information on a quarterly basis. The regulations extend to sports sponsorships, capping the financial commitments in line with the established limits.

Coljuegos Accused of Corruption

As Coljuegos continues to advance Colombia’s gaming publicity, it’s having to deal with some negative publicity of its own. The Ministry of Finance recently raised an alarm about corruption in the awarding of concession contracts for Games of Luck and Chance (JSA, for its Spanish acronym) operations.

Part of the JSA is carried out in-person in different casinos with slot machines, among other dynamics. This is overseen by Coljuegos, an entity that also collects about COP500 million (US$118,550) from the JSAs. ?

The investigations focus on the concessions awarded between 2018 and 2022. In some cases, according to the Ministry of Finance, Coljuegos officials only signed off on the concessions following threats of bodily harm and extortion.

The situation is still so delicate that Coljuegos President Marco Emilio Hincapié Ramírez and other senior officials are asking for protection. They want the police to provide security until the situation is resolved, as they are allegedly receiving threats in an attempt to derail the investigation. Hincapié only took over this past summer, making this a not-so-warm welcome.

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The voting process comes on the heels of deliberate delays strategically orchestrated to facilitate public consultation. The submission of more than 80 amendments exacerbated the situation, indicative of the diverse perspectives and considerations surrounding the proposed bill.

The Chamber of Deputies has already given its nod of approval to the legislation, setting the stage for the Senate’s crucial decision. Senator Romário’s influence in shaping the reformed draft reflects a unique intersection of sports and legislative expertise.

The outcome of Tuesday’s Senate vote holds profound implications for the future of sports betting in Brazil, with potential ramifications for the broader gaming sector. However, the finish line is still a long way away. The bill must return to the Chamber of Deputies for approval if the Senate greenlights the updated language.

Tax Changes

While the gross gaming tax rate remains at 18%, a key point of interest lies in the altered configuration underpinning this taxation framework. This adjustment deviates from the initially approved version by the Chamber of Deputies, reflecting a dynamic legislative process that accommodates evolving perspectives and economic considerations.

The largest percentage (4%) will go to the Ministry of Sports, followed by the Ministry of Tourism and its 3.5%. The National Public Security Fund will receive 2.55%, and the Ministry of Education may receive 1.82%.

The Ministry of Finance has predicted that a legal sports betting market could mean as much as BRL$12 billion (US$2.38 billion) in revenue. If the market reaches that figure, the various entities benefitting from the activity stand to make a windfall.

Brazil’s Sports Betting History

In 2018, Brazil saw the legalization of sports betting, but progress in the regulatory process stopped. The government set Dec. 12, 2022, as the deadline to finalize the regularization of sports betting. However, it was a deadline that was ultimately not met.

In February 2022, the Gambling Regulatory Framework was approved to oversee various games of chance, including sports betting. But, despite its approval, the law has lingered in the Senate. There, it faces resistance primarily from the evangelical caucus and former Brazilian president Jair Bolsonaro.

Another bill incorporated this measure, representing a renewed push to address the regulatory framework surrounding sports betting. However, there is still some resistance in the Senate, which may cause issues during Tuesday’s vote.

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Alexandre Padilha, the minister of institutional relations, provided an update on the bill’s movement after a meeting with President Lula and other government leaders on Monday. He indicated that there are still several issues that must be worked out.

The positive outlook isn’t without foundation. On Tuesday, the Economic Affairs Committee of the Senate initiated the analysis of the sports betting bill. This marks a crucial step in the legislative process, bringing the country closer to a regulated and taxed sports betting market.

Deadline Rapidly Approaching

Minister Padilha emphasized the importance of this move, indicating that the government sees the regulation of sports betting as a substantial revenue stream. If the bill is approved, Brazil will join the ranks of countries leveraging the economic potential of the sports betting industry through taxation.

As the Senate’s Economic Affairs Committee delves into the analysis of the bill, stakeholders are closely monitoring the developments. There has already been a great deal of interest in participating in Brazil’s sports betting industry, although the lengthy approval process is a challenge.

Don’t Bet on October

The Senate doesn’t expect to be able to meet the federal government’s wishes. Senator Angelo Coronel has undeniably asserted that November, or possibly December, is a more realistic goal.

He didn’t specify what those changes would be, but he doesn’t believe the bill will be ready for a vote until after October 24. He told the media outlet that he wants to discuss the legislation with as many industry players as possible in order to make the process “democratic.”

Coronel added that the bill will be put to a full Senate vote sometime in early November. After that, it must go back to the Chamber of Deputies for further review. Provided the time line is accurate, final government approval of the bill won’t happen until the end of November at the earliest.

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This initiative, Supreme Decree 005-2023-Mincetur, will take effect on Feb. 9, 2024, and sets a 120-day countdown for operators. They will have to submit their license requests between February 10 and March 10 of next year if they want to continue.

Failure to comply within this window will result in the discontinuation of operations in the country. Penalties range from a substantial fine of no less than 150 UIT (tax units) to potential criminal charges, coupled with a disqualification from participation in the iGaming space. 150 UIT is equal to PEN742,500 (US$191,490).

New Taxes, Rules

In an inclusive move, the regulations emphasize the universality of compliance, applying equally to both national and foreign companies. All licensed entities will have to pay a special gaming tax, a 12% levy on net profits, applicable from April 2024 for remote games and remote sports betting.

With the publication of these regulations, a comprehensive framework has been established to safeguard players from potential irregularities in prize payments. Moreover, the rules institute online access controls designed to shield vulnerable demographics, such as minors and individuals adversely affected by gambling.

Simultaneously, these measures act as a deterrent against money laundering, addressing concerns related to anonymous bets. This holistic approach reflects Peru’s dedication to creating a secure and responsible online gambling environment.

This development marks the inaugural instance of online gambling being formally regulated in the country. In the broader South American context, Peru becomes the third country to undertake such regulation, following in the footsteps of Colombia and Argentina (specifically, the provinces of Buenos Aires, Córdoba, and Mendoza).

Mincetur to Run the Show

The regulatory framework designates Mincetur as the national administrative authority of the segment. It will be responsible for overseeing, authorizing, revoking, supervising, and sanctioning the exploitation of remote gambling and sports betting.

The legislation is explicit in specifying that only natural persons of legal age, irrespective of Peruvian or foreign nationality, may participate in remote sports betting or gaming activities. Registration with a verified form of identification is a requirement to bet and collect winnings.

Additionally, the law specifies that sports betting is limited to events endorsed by national or international associations, federations, or sports leagues. Remote sports betting establishments, as outlined in the law, may operate either exclusively for this purpose or within locations primarily dedicated to the sale of other products or services.

Prize winnings, on the other hand, can be collected through the player’s chosen payment method. Alternatively, they can use an account in their name with a financial institution under the supervision of the Superintendency of Banking, Insurance, and Pension Fund Administrators (SBS).

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Calimaco recently carried out an investigation into the thriving gaming industry in Jamaica. The findings unveiled an ongoing upward trajectory, indicating substantial progress within the sector.

Based on the findings, Jamaica is poised to enjoy strong economic growth with the help of its gambling industry. The results show a projected compound annual growth rate of 6.31% over the next several years.

Jamaica Gambling Gains Ground

From 2021 to 2022, the second-quarter revenue surged from JMD2.5 billion JMD (US$16 million) to JMD3.5 billion (US$19.9 million). This marks a significant rise of 19.35%.

When analyzing the entire year of 2022 in contrast to the previous year, it is reported that the country’s industry as a whole experienced substantial development. The year-on-year growth for this period surpassed 24%.

Moreover, as the year 2023 draws near its conclusion, Calimaco believes the Jamaican market could hit JMD10 billion (USD$63.9 million). This would unquestionably signal a groundbreaking transformation that resonates powerfully throughout the region and the nation.

Jamaica’s online gambling landscape is undergoing a transformative surge propelled by evolving regulatory frameworks and a growing demand for digital entertainment. In recent years, the Caribbean nation has witnessed a significant uptick in the popularity of online gambling platforms, marking a notable shift in consumer preferences and regulatory dynamics.

iGaming Still Needs Work

Jamaica has around 20 land-based casinos and betting tracks, all of which are open to locals and tourists. The approval of the Betting Commission and Lotteries Act 11 years ago helped introduce a new era of gambling and shape the current market.

The formation of the Betting, Gaming, and Lotteries Commission in 1975 continued to advance Jamaica’s attempts at regulated gambling, ultimately leading to the latest version of the Betting Commission and Lotteries Act. There’s still a major sector missing, though, as iGaming is still not part of the equation.

Jamaica is in a state of limbo with its iGaming activity. It’s legal to gamble online in the country, but only if you’re a tourist. Locals are technically prohibited from participating in online gambling.

An exception exists for horse race betting, both live and simulcast. Locals are free to wager on the ponies, but have to steer clear of the online casinos. Despite the prohibition, a Jamaican who frequents an online casino isn’t likely to get into trouble. Rarely will the authorities punish someone for online gambling.

This also means that Jamaica isn’t able to capture the revenue from the segment. Under the current global push for expanded iGaming, this is likely to change soon.

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The gaming operator paid to put its name on Chile’s First Division and First Division B championships, in addition to appearing as one of the main sponsors of the country’s national soccer team, La Roja. That changed a few weeks ago, when the Supreme Court brought an abrupt and unprecedented halt to online sports betting.

What followed was a call by the court for any entity in any type of partnership with gaming operators to bring those relationships to an end. While the ANFP tried to appeal the decision, the courts refused to hear its arguments and the fight came to an end.

How They Got Here

Chile’s Supreme Court decided to block 23 online bookmakers last month, not allowing time for the operators to offer input or debate the issue. The ruling took immediate effect, and any company that still offered its services in the country could face charges.

The 14-page brief the Supreme Court provided only refers to platforms that have sports betting content. However, it set a precedent that has allowed Chile to expand the offensive and attack the entire industry.

Betsson joins Betway, a company that announced its separation from five soccer clubs — Audax Italiano, La Calera, ?ublense, Coquimbo Unido, and Everton. Betway was the first operator to comply with the court order, according to local media.

Following the ruling, the Ministry of Justice pressured the ANFP to cancel the sponsorship contracts. It threatened to sanction or strip the organization of its legal charter if it didn’t comply within 30 business days. The court’s denial to hear its appeal left the ANFP with no choice but to comply.

It’s possible the operator will try to make the transition easy for the ANFP. When Betway announced its departure, it agreed to comply with the terms of its contracts through the end of the current season.

As such, those clubs didn’t suffer an immediate impact, and Betsson might take the same stance. The company didn’t respond to a request for comment before publication.

Writing On the Wall

While the Supreme Court decision came as a surprise, the gaming industry and the ANFP had a few hints that this might eventually happen. In 2021, the Dreams casino group sued Betsson, accusing it of operating illegally in the country.

That lawsuit led to others, as well as orchestrated demonstrations by casino workers across the country. This kept the iGaming operators in the spotlight for the wrong reasons, and could have helped influence the court’s direction.

Chile’s gaming regulator, the Superintendence of Gaming Casinos (SCJ, for its Spanish acronym), was aware of what might happen in 2021, as well. Chilean media outlet Interferencia reported a year ago that the SCJ informed the ANFP that it should reconsider teaming up with online sportsbooks.

In a letter the regulator sent to Pablo Milad, the president of the soccer organization, it warned that entering advertising partnerships with the books could be illegal. Because the AFNP doesn’t fall under the SCJ’s authority, it ignored the warning. The result of that is the dilemma Chilean sports faces today.

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PokerStars entered into a sponsorship agreement with Furia in 2022. This alliance marked the convergence of two diverse yet dynamic communities, uniting poker enthusiasts and eSports fans under a common banner.

The first product in line, according to a PokerStars announcement, is a specially designed hoodie, tailored for poker players who achieve victories in specific events on the PokerStars platform. This initiative not only adds a layer of exclusivity to the gaming experience, but also serves as a tangible token of achievement for players in the world of online poker.

Sporting the Swag

These limited-edition hoodies will carry the branding of PokerStars and Furia, reflecting the synergy between the two entities. The collaborative effort is a testament to the increasing overlap between traditional poker and the burgeoning eSports industry in Brazil.

PokerStars plans to unveil additional products in the partnership pipeline over the next year, expanding the range of exclusive offerings available to the gaming community.

In anticipation of the upcoming product launches, PokerStars and Furia enthusiasts alike are eagerly awaiting the chance to buy the items. The merchandise will not only showcase their skills at the virtual poker tables, but also allow players to wear their achievements with pride through these exclusive, limited-edition items.

Furia has emerged as a formidable force in the competitive gaming arena, transcending boundaries with its exceptional performance across various titles. The team has made its mark in popular games such as Counter-Strike: Global Offensive (CS:GO) and League of Legends, where their roster has consistently demonstrated top-tier skills and tactical prowess.

Furia, which spent $700K to buy CS:GO player Gabriel “Fallen” Toledo de Alcantara Sguario several months ago, has secured notable victories in several tournaments. It has also begun to expand into the North American eSports market after beginning to form teams in 2021.

eSports a Huge Draw for Brazilians

eSports may not have the betting appeal of the NFL or NBA, but it’s getting there, especially in Brazil. A new report by Pesquisa Game Brasil (Brazilian Game Survey) shows that 63.8% of Brazilian gamers follow eSports competitions.

This translates into greater participation in betting, as Brazil continues to mold its gambling legislation. The founder of sports trade data analysis company Full Trader Sports, Ricardo Santos, attributes this to the consistency of the teams.

As opposed to most sports, where the results can vary greatly from one game to the next, eSports teams often show relatively identical levels of performance. This makes it easier for bettors to analyze the potential for success and increase their returns.

Studies have shown that Brazil is the largest eSports market in Latin America. With regulated sports betting coming to the country, eSports participation and wagers will likely gain significantly more ground.

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Puerto Rico’s House of Representatives and the Senate have given their approval to a bill that paves the way for slot revenue. The Law on Gambling and Authorization of Slot Machines in Casinos could give a significant boost to tourism revenue and the entertainment sector.

Gaming License Fee Revenue Restructured

Bill 1119 outlines a strategic distribution plan for the income from slot machine licenses. some 60% of this revenue will be allocated to Puerto Rico’s Trust of Retirement of the Police. Behind the legislation are the president of the Tourism and Cooperative Commission, Matos García, and legislator Rivera Mader.

Another 35% of the proposed income will be directed toward the creation of a new Fund for Municipal Reengineering. This fund aims to make a substantial impact on individuals benefiting from the Nutritional Assistance Program, as well as residents in the respective municipalities. The bill recognizes the potential of these funds to address pressing community needs and contribute to the overall well-being of the population.

The Puerto Rico Gaming Commission will keep the remaining 5%. This allocation, according to the bill’s supporters, ensures the effective regulation and oversight of the gambling industry, contributing to the integrity and fairness of gaming operations on the island.

The legislation aims to create a regulated and controlled framework for gambling activities, with a focus on slot machines. Supporters of the bill argue that this will diversify Puerto Rico’s tourism offerings and contribute to the territory’s economic growth.

If the regulator can adequately justify its approval, the proposal must undergo evaluation by the national Legislature.

Equitable Distribution of Slot Machine Revenue

A different legislative initiative, Bill 0043, aims to redefine the allocation of the revenue the new law generates. It’s not as far along in the legislative maze as Bill 1119.

Group B encompasses the Special Statutory Fund, the General Fund, the Fund for the Development of the Tourism Industry of Puerto Rico and the General Fund of the University of Puerto Rico. Within this 66%, the UPR would receive 45% of the total, marking a shift in the financial distribution model.

The revenue ranging from $315 million to $495 million, will be divided between the two categories as follows: 60% for Group A and 40% for Group B. In this case, though, UPR’s School of Restaurant and Hospitality will receive the biggest share.

Subsequently, out of the total collection exceeding $495 million, Group A will receive 80% of the surplus funds. The remaining amount will go to Group B, and out of that 20%, the university’s share will be 45%.

Bill 1119 only needs approval by Puerto Rico’s governor, Pedro Pierluisi. Bill 0043 has secured partial approval from the House of Representatives and now awaits further examination by the Senate.

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