International edition
September 19, 2020

The leasing will be effective for three years

Colombia: Coljuegos awards licence to sportsbook operator Geonline

Colombia: Coljuegos awards licence to sportsbook operator Geonline
“Our desire is that more and more operators become authorised parties and stregthen this industry with new technologies," said Pérez Hidalgo.
Colombia | 12/21/2017

Coljuegos has, up to November, reported USD 160.971.000 in annual exploitation rights, out of which USD 1.262.710 amount to the revenue generated by online gambling since June, when its web platforms started operating. Through the intervention of Coljuegos, and for the first time ever, USD 167.958.000 will return to the state in the form of investments to the public health sector.

O

n December 21st, Juan B. Pérez Hidalgo, the President of Coljuegos -the national committee for the regulation of gambling and betting in Colombia- confirmed in an official announcement the signing of a leasing agreement with Geonline S.A.S, enabling the conglomerate to carry through sports betting through their domain Mijugada.co.

The leasing, effective upon online gambling events, has been granted for three years after the signing of a USD 1.244.570 deal.

The president of the Coljuegos explained that those operators in compliance with the financial, technical and legal requirements established by Coljuegos -apart from ensuring the creation of resources for the preservation of the nation's health- would be allowed to delve into online betting.

"There are already six websites in existance offering online betting legally in Colombia -Wplay, Betplay, Colbet, Zamba, Codere y Mijugada-. Colombia is currently the first country in Latin America to have this activity regulated, thanks to Coljuegos since 2016”, highlighted Pérez Hidalgo.

“We are constantly striving towards greater investment in our nation's health, growth of our gaming portfolio through innovation and syncing into the global trend towards digital enablement," he added.

Coljuegos has, up to November, reported USD 160.971.000 in annual exploitation rights, out of which USD 1.262.710 amount to the revenue generated by online gambling since June, when its web platforms started operating. Through the intervention of Coljuegos, and for the first time ever, USD 167.958.000 will return to the state in the form of investments to the public health sector. 

As per declarations by Pérez Hidalgo, the committee -in coordination with the national police forces- will further the blocking efforts to unauthorised websites and actively encourage more law-abiding operators to enter the market and consequently double on the investments to the public health sector. 

“Our desire is that more and more operators become authorised parties and stregthen this industry with new technologies. So far we have blocked 325 illegal websites. There are currently two additional licence requests submitted to Coljuegos being revised, and we look forward to authorise as many as 20 new platforms in 2018," Pérez Hildalgo concluded.  

Yogonet.com
Leave your comment
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.