rgentinian casino operator Casinos Maverick has received a license from Neuquén province's gambling regulator (IJAN) to start operating online. For the implementation, the company has signed an agreement with LatamWin, which will provide it with a technical iGaming platform, a wide portfolio of content with slots, bingo and casino games and, in the near future, Live dealers and sports betting when IJAN incorporates them to the operating license.
The agreement is based on a revenue-sharing mechanism, where the profits obtained will be combined with the rates that have been agreed upon, LatamWin explained in a press release.
It is the first gaming company in the interior of the province to start operating online, bring a fresh boost to the regional economy, which was hit hard by the closure of gaming halls due to the pandemic. Enabling online gambling also means the collection of resources for the financing of social assistance and education programs.
The federal system of Argentina allows each province to regulate online gambling under its own rules, and this is becoming a growing trend. Of the 24 jurisdictions in the republic, nine already have the online market regulated and in operation; four, whose regulation was approved but is not yet operational; one in process and two in debate. Currently, only 7% of the total gaming in the country takes place online, which presents an important emerging market with great growth potential.
Both for Jorge Diment, CEO of JSD SA and exclusive representative of LatamWin for Argentina; and Cristhian Vargas, Business Development Manager of LatamWin, "this is a great novelty for the Argentine market," since it continues the expansion of the territoriality where LatamWin rolls out a platform that allows versatility and functionality with record start-up times.
“It has been a complex year in terms of the movement in regulations in Latin America, as in the case of Argentina, which advanced to provide a way out of the COVID-19 crisis for physical casinos," Vargas said. "Luckily, due to our commercial management in the country and the agreement with JSD, we were able to obtain two licenses. We thought of them to enter the Argentine market, which has had an excellent result, allowing us to access two places in Catamarca and Neuquén provinces. They have helped us to attend to the complexities of the country, since it is not easy to do business in Argentina."
In two months of work since the agreement between LatamWin, Coleal S.A. and its subsidiary Casinos Maverick was sealed, they achieved a high-quality product, which marks a positive time for any business model that wants to hire a platform.
Favio Torres, president of Coleal S.A., said he was "very satisfied with the unconditional support offered by LatamWin, the joint work and effort, all put at the service of being online in record time and before the end of the year." He also pointed out that "the date is key because it is possible to take advantage of the flow of players who usually register for the Christmas and New Year holidays."
"LatamWin is in an unbeatable position to capitalize this evolution of the online sector and, together with a partner that has an important regional influence, a focused vision towards both the client and responsible gaming, and through their platform maverickonline, they can develop the necessary functions to build a successful integration," the company concluded.