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COLOMBIA PROPOSES CHANGES TO GAMBLING REGULATION

The Minister of Finance has presented a decree modifying gambling regulation and opened a period of discussion.

Colombia.- The executive government through the Ministry of Finance has presented a draft decree that would modify regulation in the gambling industry.

The document would affect part 7 of book 2 of decree 1068 passed in 2015, which affects different sectors of the industry.

If approved, it would impact lottery games, permanent, promotional, localised and novel bets, (particularly Super Astro). The proposal is now open for comments until October 22.

Fecoljuegos, a non-profit union-based entity of gaming operators, said: “The content of the decree will be reviewed to make the necessary observations taking into account the proposals that the federation presented to Coljuegos last month with the aim of finding alternatives that generate economic relief for the operators of localised games.”

It said it had proposed a reduction of gaming elements for 2020 and 2021 and that VAT form no part of the basis for calculating the exploitation rights of localised games. It also wants a payment agreement for up to 36 months without additional requirements or guarantees that would run from the renewal of contracts for up to six months.




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