ARGENTINA – Macri rout brings uncertainty to gaming industry
Defeat for Vidal might affect current tender bids for Buenos Aires online licences
Following the Argentine electors’ rejection of President Mauricio Macri and his coalition party at the nation’s Primary Elections, which is the country’s run-off candidacy format prior to the General Elections scheduled for 27 October 2019, the Argentine markets suffered the second-largest collapse of any nation since 1950, with the Peso falling 23% against the US dollar.
Macri could only muster 32% of votes, while rival Alberto Fernandez for socialist coalition ‘Frente de Todos’ cruised to victory with 48% of the primary ballot. Furthermore, Maria Eugenia Vidal, Governor of Buenos Aires province and lead advocate of the new online gambling changes, was routed at the primaries with 34% of the votes, against Axel Kicillof of the ‘Peronist’ Partido Justicialista taking an overall majority of 52%.
What this means for the gambling industry is that the current tender for the Buenos Aires online licences might take a direct hit, as they are in the process of revision by the provincial regulators, Instituto Provincial de Loterias y Casinos (IPLyC).
As part of the online gaming licences tender for Buenos Aires province, some 19 international betting companies joined up with local partners to fulfil the tender licensing criteria. Right now uncertainty reigns supreme as tender candidates await the IPLyC decision.
Amongst the international online gambling firms that filed in tender forms by June 25thwere: Bet365, Codere, WIlliam Hill, Paddy Power Betfair, PokerStars, Intralot International, Playtech Software, 888 Holdings, and Betcris.
