International edition
October 21, 2020

Local licenses would be extended for up to two years

Chile: Local casino license project to be presented

(Chile).- After months of debate, President Michelle Bachelet is just about ready tosign off on a project that modifies regulations for Chile's seven local casinos, respectfully located in: Arica, Iquique, Coquimbo, Viña del Mar, Pucón, Puerto Varas and Puerto Natales.

T

his week, officers of the Casino Superintendent's Office, together with the Treasury Assistant Secretary, Alejandro Micco, and the General Secretary of the Presidency, Ximena Rincón,  have been writing and clarifying the latest points of the project.

The initiative would consider the same points as discussed previously. First of all, it would extend local licenses for two years. The original deadline is December 31 of 2017, but now that deadline would extend until the end of 2017, with the aim to prepare new tender processes. During that period, the current tax system would be maintained, which means that a relevant percentage of casino revenue would be allocated to the local government. In the case of Viña del Mar, the license brings the 50% of the local budget.

Once the deadline is complied, the system would be approved for the rest of the industry: 10% for the local governments and 10% for the regional governments. However, the participants in the tender process will be able to offer 10% more in additional allocations, obtaining more points. It has emerged that those applicants that offer less than the amount guaranteed will be disqualified. Lastly, these locations would be permanent-   they would be established indefinitely as one of the three casinos that may exist per region.

At the signing of the initiative, the mayors of the seven city councils affected which  would be in attendance.

Mayor of Pucon,  Carlos Barra said, "The new law must establish that casinos remain in their cities of origin and that the financial resources are guaranteed,” he added.

Similar statements were made by the Mayor of Viña del Mar and President of the Association of City Councils with Casinos, Virginia Reginato: "This vital problem for our councils is about to be solved, and we will soon find out the definite content of the project that President Bachelet will send to Congress,” she pointed out. She the added: “We are sure that the president will keeep her word and solve this huge risk that haunts these seven councils.”

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