Chile aiming to allow online gambling

To negate the impact COVID-19 has had on the market, casino operators aim to expand operations by including online gambling.

Chile is looking to allow casino operators to expand their operations by including online gambling. The idea was proposed to counter the negative impact COVID-19 has had on the market.

Congress will decide on whether to issue automatic renewals of operational permits that will expire this year. The situation would impact 14 casinos and the proposal comes from the government.

The renewals will be valid for 12 months, and after the additional time expires, casinos will have to bid for the renewed permits as usual. Undersecretary of finance Francisco Moreno is against the automatic renewal, stating how issuing permits “under adverse conditions” may “end up affecting municipal revenues for the next 15 years.” Moreno aims to increase income tax for the casinos from 20% to 25% during the 12-month extension, and in return, casinos will have permission to develop online gambling.

The online gaming platforms will likely depend on municipality and could be strictly geo-fenced. The country’s regulatory body that oversees casino activity, Superintendencia de Casinos de Juego, approves of online gambling as long as there is a reasonable tax and regulation system in place.

In total, Chile has 26 casinos, all of which have been closed mid-March, andthe government warns the industry the shutdown will likely last until October.

Violeta Prockyte

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