International edition
October 28, 2020

Argentina

Hipódromo de Palermo racetrack and Casino Buenos Aires could offer online wagers

Hipódromo de Palermo racetrack and Casino Buenos Aires could offer online wagers
The land-based operators are currently banned from offering odds online, so they have resort to the court to modify this restriction.
Argentina | 08/20/2020

The Buenos Aires City legislature is currently analyzing a proposal under which local authorities could allow the Hipódromo Argentino de Palermo racetrack and Casino Buenos Aires to get into the igaming market that is expected to launch in the city in the next few months.

T

he city government has submitted a proposal that would amend the online gaming legislation in force to allow the racetrack and the casino to go live in the soon-to-be-launched online gambling market, which is expected to generate more than USD 6.8 M in tax revenue for the city.

City Mayor Horacio Rodríguez Larreta said his administration is seeking to regulate "something that is already happening under the counter."

Under the city's legislation, land-based operators are not authorized to move online, so they had to resort to court action to obtain such permission. Now, local authorities are looking to grant these permits in an attempt to offset the losses the companies have incurred since lockdown measures were adopted in Argentina, which have made them unable to pay turnover taxes.

The online license-granting process began in late 2018 when the Buenos Aires City legislature passed a law to authorize the operation of online gambling. In May, the guidelines for the implementation of this law were released and the Buenos Aires City Lottery (LOTBA) called for applications.

Six companies have already applied for an online license, three of which are more advanced in terms of document submission. Now, the City is looking to let land-based operators participate in this market as well.

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