Gaming tax revenue allocated totally to the Health sector rises to US$20.5 million
Online gaming in Colombia is the fastest growing industry modality, with 17 operating contracts awarded and signed and more than two million seven hundred thousand online active players.
During Coljuegos’ Accounts Report event, Juan B. Pérez Hidalgo, president of the Colombian regulator, said that in the last year the games operated through Internet achieved 83% growth on revenue contributions for the Health sector, rising from COL$37,912 million in 2018 to COL$69,372 million in 2019; some US$20.5 million.
In Colombia live gaming in casinos and on slot machines is the biggest tax contributor – with a 57% contribution in 2019 with an equivalent payment for operating rights of COL$377,432 million, about US$111.4 million, a 9% increase compared to 2018 when the revenue was COL$345,793 million.
Overall, according to data provided by Coljuegos, the gambling industry will generate tax contributions that fund Colombia’s Health Service by COL$664.830 million, about US$196 million, by the end of 2019 – a 16% increase on 2018 contributions, when the sector generated COL$574.660 million in operating rights.
Colombia’s entire gambling industry, including lotteries, casinos, betting and online gaming, contributed in 2019 COL$1.7 billion – US$ 502.7 million – to the country’s public finances: COL $695.820 million in VAT and COL$1,087,894 million for exploitation rights.
