William Hill and Flutter join list of Buenos Aires applicants
First online offerings expected to go live in Q1 2019
William Hill and Flutter Entertainment (formerly Paddy Power Betfair) are among the latest European firms to have secured local partnerships in a bid to secure licences for online betting and gaming in the Argentinian province of Buenos Aires.
Flutter has teamed up with bingo hall operator Bingo Pilar, while William Hill has secured an agreement with another bingo firm ArgenBingo.
The two firms join Playtech, 888, Intralot and The Stars Group as international firms with local parntes.
As previously reported, GVC is still examining the licensing process and hadn’t come to a decision as to whether to apply yet.
Operators would pay a total 25% of tax on their respective gross gambling revenues.
The application window closes on 25 June, with licences expected to be issued in October and the first offerings going live in Q1 next year.
The Buenos Aires market is projected the be worth around $200m in annual revenue in year five of operation, with around half of that coming from sports betting, according to Ficom Leisure.
The city of Buenos Aries has also kicked off a licensing process of its own, with the province and city expected to agree a POC tax regime, that could cover around 70% of the addressable Argentina online gambling market.