Betsson Group has lauded its ‘strong LatAm prospects’ after the company secured a ‘venture licence’ in Buenos Aires.
Granted by the province of Buenos Aires’ IPLyC lotteries and casinos institute on the final day of 2020, the IPLyc disclosed the seven ‘business ventures’ that had been granted licenses to operate online gambling services within Argentina’s most populated state.
Partnering with Grupo Mautone’s Casino de Victoria, the Stockholm-listed group will now join its European colleagues, William Hill, 888 Holdings, Flutter Entertainment and bet365, which also received an aforementioned licence.
“Our strategy for LatAm is to find local partners who are able to bring the necessary expertise and have solid industry experience and we are extremely excited to have Casino de Victoria as our partners in Argentina for this joint venture,” explained Betsson Group CEO, Jesper Svensson.
Betsson has seen its presence in South America enhanced even further with the BA approval, having previously secured various local partnerships to operate in the regulated Colombian online gambling market last year.
Moving forward, the firm will provide its BA venture the technology platform and operational frameworks required to operate online gambling services in accordance with IPLyC regulations.
“We will start working on the technical implementations that are required for the market so that operations will be able to commence soon afterward. We will launch under our flagship brand, Betsson, and our goal is to start with our proprietary sportsbook, casino, and live casino offerings,” added Svensson.
However, despite changing circumstances, doubts remain as to whether the IPLyC will formally launch its regime with its current frameworks.
New BA governor, Axel Kicillof, who took office last year, has yet to formally approve the IPLyC plans, with his administration having stated its concerns with regards to BA Provinces intended laws and ‘welfare fund’ commitments.