Buenos Aires Government Unveils a Project to Grant Online Gambling License to Casino de Puerto Madero

The Buenos Aires City Government has unveiled a project that would allow the Casino de Puerto Madero to operate online sports betting.

The project aims to boost the economic recovery of the City after a slowdown in the past five months, enabling the Government to collect $6.8m in taxes from the new vertical.

The proposal says that the City should review the current sports betting regulation in the Argentinian capital, which was approved in February 2020.

As per the current regulations, companies interested in obtaining a license, both national and international, must pay a $30k fee in administrative expenses. They also need to demonstrate at least two years of experience in the business and a net worth of $25m, as well as a certification from accredited laboratories in the Official Registry of LOTBA S.E.