Grupo Orenes, a world reference operator in the industry, has reached a magnificent agreement with Zitro to include the revolutionary ILLUSION and ALLURE Video Slot cabinets to their Mexican Casinos.
Orenes Group has stated: “As a reference company in the entertainment industry, we are committed to offering our customers the highest quality by incorporating the most advanced technologies. We are strongly committed to winning products, that set trends in gaming and undoubtedly ALLURE and ILLUSION are two of them”.
Johnny Viveiros Ortiz, founder of Zitro has pointed out that, “the great commitment that Grupo Orenes has made in our new cabinets fills us with pride as a company for the trust that, once again, this important Group places in Zitro, in our products, in Mexico and worldwide”.
ILLUSION and ALLURE cabinets are trendsetters in the gaming rooms where they are being installed. Its design allows them to be the cabinets that occupy less space in the room, with an extremely wide and spacious interior for greater player comfort and many more benefits to the operator. ILLUSION ignites passion with the Bashiba multigame while ALLURE is creating a trend with games like 88 Link Wild Duels and 88 Link Lucky Charms.
Tolima Lottery Transferred More Than $6.4B to the Health System in 2023
In 2023, the Tolima Lottery transferred a total of $6439 million to the health sector. These resources, for the most part, were generated as monopoly income and come from the total sales of the traditional lottery game achieved by the company in the same period.
Marco Emilio Hincapié Ramírez, president of Coljuegos, indicated that, by 2023, the Tolima Lottery recorded sales for a total of $24,762 million, which represented an increase of 23% compared to 2022.
“During the previous period, we were able to see how lottery game operators in the country considerably increased their sales. This is significant if we take into account that the more lottery tickets that are acquired by players, the greater the amount of resources that can be transferred to the health sector,” said the president.
Likewise, the official mentioned that, in 2022, transfers from the Tolima Lottery were $6331 million: “This indicates that, in the last two years, transfers to health from this lottery amounted to $12,770 million,” Hincapié said.
Thus, it is worth noting that, in total, the 15 authorized operating companies transferred $417,131 million during the periods 2022 and 2023 for all concepts (monopoly income, tax on winners, tax on foreign lotteries, and expired prizes), with sales that reached $1.6 billion in the last two years.
“We want to highlight the contribution that the Tolima Lottery has made to the health of the department. Likewise, we invite all players to buy only from authorized distributors and their trusted lotteries,” concluded the president of the entity.
Inside Brazil’s race to the finish line
The buzz around a fully-regulated Brazilian sports betting market has been amplified since the passing of legislation in late December 2023. As operators await the publication of a regulatory framework later this year, many industry stakeholders are trying to prepare themselves for meeting licensing requirements.
Marc Crean, OpenBet’s VP for Latin America and Canada, shares predictions for the months ahead.
After a two-decade wait for a legalised gambling market, Brazil’s president, Luiz Inacio da Silva, has now sanctioned law 14790 to approve gambling regulation in the booming LatAm market. The government has been engaging key stakeholders and giving regular and transparent updates over recent months and the path to regulation looks optimistic with a thriving market is in sight.
There are strong opinions from all sides about Brazilian regulation and how it should look, yet there is great potential to create new revenue streams and jobs for the country, which is generally viewed as the jewel in the crown of LatAm’s sports betting market. However, before the market can operate smoothly, sustainably, and safely, the serious issues of match-fixing, money laundering and responsible gaming must be ironed out. A highly publicised investigation concerning allegations of widespread match-fixing is still ongoing, with seven professional football players charged for alleged crimes in the scandal.
The government wants to establish a market that provides sports betting entertainment to Brazilians, generates revenue for the country and protects local players and institutions as quickly as possible, but the specifics of the regulations will change over time as technology develops. The framework must be flexible enough to cope with changing demands and stay one step ahead of illegal operations when it is finalised.
One introduction is a 12% GGR tax on operators, which is a sustainable rate and in line with other successful regions, as well as a 15% tax on bettors’ net gains. This is expected to generate R$3 billion in revenue for the Brazilian government each year. However, while the government will struggle to satisfy all stakeholders, taxes are not unique to Brazil nor to sports betting. Most market estimates have Brazil as third or fourth in the world in terms of size, and the proposed cost of a license is in line with UK and US costs.
What is clear is that Brazilian regulators must exercise caution on a proposed tax on player winnings. There is room to do this successfully based on how the tax imposition is implemented. It is in the law, so it is going to be in place, but the devil is in the details. It has been seen again and again how this type of tax, whilst well-intentioned, can reduce channelisation and end up pushing people to black market sites.
Shaping the industry of the future
Brazil has its own unique cultural, social and economic dynamics that will have a major influence on product, operations and marketing activities. Regulation will create a massive amount of local opportunity both on the supply and the operator side of our industry. However, people tend to overestimate the need for local product and underestimate the need for local marketing and operations. This invariably creates opportunities for local companies and I think this is healthy for our industry.
Early-adoption, innovation and an unparalleled consumption of social media are three local dynamics that will have a massive impact on the shape of the industry. As always, companies with boots on the ground will be better placed to understand and tap into these areas.
When you add in the size of the market and the passion for sports, we can expect to see a lot of new ideas and innovations coming out of Brazil once the market fully opens up and starts to flourish.
All Eyes on LatAm Markets at Gaming Insights Rio
The spotlight shines brightly on the burgeoning Latin American (LatAm) gaming markets as industry leaders converge at Gaming Insights Rio on March 4. Among the frontrunners in this dynamic landscape is Altenar, a stalwart in the iGaming sector, poised to make significant strides in the region.
With a steadfast commitment to LatAm, Altenar has been a pivotal player in driving the growth of sports betting, further solidifying its presence with the inauguration of a strategic office in Uruguay. This strategic move places Altenar in closer proximity to LatAm operators, facilitating enhanced business support operations and fostering stronger partnerships.
The LatAm gaming scene is experiencing a transformative period, notably in Brazil where regulatory changes are reshaping the sports betting landscape. Hugo Llanos, Americas Regional Director for Altenar, underscores the uniqueness of LatAm punters’ preferences, emphasizing their penchant for promotions and penchant for multiple bets, contributing to a vibrant and diverse market ecosystem.
“In LatAm, promotions hold significant sway, enhancing the overall user experience,” Llanos remarked. “From enticing bonuses to engaging multiples, operators must cater to a diverse clientele, ranging from casual punters to astute analysts, ensuring a dynamic and engaging platform.”
Altenar’s suite of products, ranging from top-tier sportsbooks to turnkey solutions, is meticulously crafted to cater to the evolving needs of the LatAm market. With a focus on mobile, desktop, and retail platforms, Altenar empowers operators with agility and adaptability, crucial in navigating the swiftly evolving regulatory landscape.
“At Altenar, we prioritize user experience, offering tailor-made solutions to meet the unique demands of our clients,” Hugo Llanos emphasized. “Our relentless focus on customer satisfaction, coupled with innovative features such as customizable layouts and localized translations, sets us apart in a fiercely competitive market.”
As the race to dominate the LatAm gaming sector intensifies, Altenar stands poised to lead the charge, buoyed by its unwavering commitment to excellence and customer-centric approach. With a dedicated presence in Uruguay and a comprehensive suite of cutting-edge solutions, Altenar remains at the forefront of innovation, driving unparalleled growth and success in the region.
- Gaming and Leisure Properties, Inc. Reports Record Fourth Quarter Results, Establishes 2024 Guidance and Announces 2024 First Quarter Dividend of $0.76 Per Share
- Fanatics Sportsbook Launches Today in Indiana
- The top slot software, Endorphina, partners up with Star-Casino!
- GGPoker Launches Exclusive WSOP Circuit UK Satellites Press Release
- PAGCOR SEEKS GCG APPROVAL TO IMPLEMENT SALARY STEP INCREMENT
- ClearStake secures seven-figure funding round to drive further growth
- Ellipse Entertainment Enters Geolocation Partnership with GeoLocs
- GGPoker and Great Canadian Casino Bring WSOP Circuit to Toronto
- DWG Expands Reach with Exciting Launch on BetMGM Pennsylvania
- GR8 Tech Wins Best Online Sportsbook Provider 2024 at SiGMA Eurasia Awards
- Justin Farrin-Thorne Joins Xprizo as New Head of Operations
- Fast Track’s Simon Lidzén Wins Best CEO 2024 Award at Sigma Eurasia
- Make Space for Tasty Treats as Relax Gaming Unveils Latest Release Sweetopia Royale
- DiffusionData Offers Free Trial of Diffusion Cloud
- Games Global and Just For The Win® set sail in Dark Waters Power Combo™
partnerships4 weeks ago
MONETA COMMUNICATIONS EXTENDS AND EXPANDS MULTI-YEAR PARTNERSHIP WITH SPOTLIGHT SPORTS GROUP FOR SUPERFEED RACING AND BETTING EDITORIAL CONTENT
partnerships4 weeks ago
SPOTLIGHT SPORTS GROUP PARTNERS WITH BOYLESPORTS TO DELIVER CHELTENHAM FESTIVAL CONTENT HUB
Mediterranean Europe4 weeks ago
Cyprus: National Betting Authority Reveals Strong Growth in Q3 2023
Sports Betting4 weeks ago
Swifty Global Set to Enter Irish Gambling Market with Innovative Sports Betting Platform
EurAsia4 weeks ago
GR8 Tech Shortlisted for 3 Categories at SiGMA Eurasia Awards
partnerships4 weeks ago
Buzz Bingo goes all in on real-time personalisation with Future Anthem
Sports Betting4 weeks ago
Three Giant, Golden Darts Land in Cardiff to Celebrate the Start of the 2024 BetMGM Premier League
Baltics3 weeks ago
IGT Signs 12-Year Contract Extension with UAB Perlas Network in Lithuania to Deploy Upgraded Central System Software