The President of the Provincial Institute of Lottery and Casinos (IPLyC) of the Province of Buenos Aires, Omar Galdurralde, has made official the renewal of bingo and slot machine licenses for a 15-year period.
The measure was included in Resolution 1215/2022, published in the Official Gazette last week, and provides that “the continuity of the exploitation will make it possible to maintain the current jobs, especially when considering the provisions of Law 13,063,” which ratifies the operation of electronic machines in authorized bingo halls.
The IPLyC argued that the largest Argentinian jurisdiction is in a position in which it can carry out “a long-term renewal process” and therefore “can award these licenses for a 15-year period,” as this positively affects public finances, which see the greatest effects from the taxes collected from the institute.
The resolution also mentions that the financing interest rate for productive investments set at 42% must be taken into account as it’s an activity that generates jobs, investments and resources for the province.
As established in the IPLyC resolution, the permission holders must confirm their interest within 10 days of the notification of this decision, while they must also provide all the documents that prove their capacity to carry out these operations within 20 days from the confirmation.
“The entity will certify that the legal status granted by the Province of Buenos Aires is in force and that it maintains its real address in the jurisdiction where the operating room carries out its activities,” reads the resolution, adding that it will also need to provide a detailed investment plan.
Galdurralde will consequently have a meeting in which the authorization and renewal permits will be granted, establishing for how many years they will be operational.
Moreover, the resolution sets that the companies will need to pay a non-refundable fixed charge set to be calculated on the basis of an average monthly revenue during the previous 12 months collected by bingo halls, and multiplied by the number of years for which each authorization is granted.
The IPLyC has been recently under scrutiny due to the approval of the use of debit cards in bingo halls, casinos, racecourses and betting agencies. Weeks after giving the nod, the local government backtracked on its decision at the end of April and voided the resolution after rising concerns surrounding problem gambling.
The suspension of the previous approval in March said that it would not be possible to allow debit card use “until the authorized gaming halls in the Province solve the operational issues around the implementation.”
“Bingo halls in the Province made a presentation in which they expressed the need to have a reasonable timeframe to comply with the obligations in the administrative resolution,” the resolution said.