Bet365 and Betway join hunt for Buenos Aires licences
10 operators now competing for seven available licences
Bet365, Betway and Spanish operator Codere’s Latin American subsidiary have all registered their interest in obtaining a licence to operate egaming and sports betting in the Argentine province of Buenos Aires.
The three firms have entered into joint ventures with local Argentine partner; bet365 has partnered with Pasteko, a local bingo hall operator, while Betway has partnered up with local operator Bingo King.
Codere LatAm has agreed a joint venture with local bingo hall and slots gaming operator Iberargen.
The trio join seven other operators including Stars Group, William Hill, 888 and Flutter Entertainment in partnering with local firms, while a further two Argentine operators, Slots Machines S.A. and Biyemas S.A have also registered their interest.
GVC Holdings has yet to confirm its interest in a Buenos Aires licence, recently saying it was still examining the licensing process ahead of a potential application.
A total of seven egaming and sports betting licences are up for grabs, with interested parties required to register their intention to apply for a licence by 25 June.
Under Buenos Aires regulations, applicants are required to maintain a physical presence in Buenos Aires, with international operators partnering up with local firms to satisfy the conditions.
Winning bidders will receive a 15-year licence, at a cost of AR$65m (£1.1m) and will be required to pay 25% tax on their gross gambling revenues.
A separate licensing and regulatory regime recently launched in the city of Buenos Aires has yet to attract any prospective licensees.