Nineteen companies in the running for Buenos Aires licences

Nineteen operators have registered their interest for the seven online gambling licences up for grabs in Buenos Aires, according to the province’s Institute of Lottery and Casinos (IPLyC).

Under the proposed licensing framework, all applicants are required to have a minimum of two years “demonstrable” experience in gaming activities, either through administration or management of gambling operations.

Applicants must also be able to demonstrate they have a total income of more than ARG$50m (£900k) as of 2018 and must have total sales revenues of more than ARG$250m during the same period.

Regulators from the IPLyC confirmed that the seven licences will run for a 15-year period and cannot be extended. Interested parties must pay an application fee of ARG$5.5m (£96,000), with a further ARG$65m (£1.1m) fee to be paid when the licence is granted.

In addition to these fees, operators must pay a security deposit of ARG$130m (£2.2m) as part of the licensing process. International operators will be allowed to apply for licences but are required to maintain a physical presence in Buenos Aires, with the IPLyC requiring that operators be licensed in at least one other international gambling jurisdiction.

The IPLyC has reiterated its support for earlier proposals that all licensed operators should pay a total 25% tax on their respective gross gambling revenues.

This charge is split into a 15% charge for operating online gambling, with a further 8% tax rate paid on each additional licenced activity. Finally, all licensed operators will be required to pay an additional 2% as a licence fee.

The application window closes on 25 June.