Spanish online and land-based gaming heavyweight Codere has reportedly taken the first step in its plan to begin offering legal iGaming services to people in the Argentinian capital city of Buenos Aires.
According to a report from iGamingBusiness.com, the Madrid-headquartered firm recently had its application for a local iGaming license approved by the giant municipality’s Loteria de la Ciudad de Buenos Aires (LOTBA) lottery operator. The source explained that this body is currently serving as the conurbation’s de-facto online gaming regulator and initially began examining the Spanish operator’s petition as far back as May.
Buenos Aires is an autonomous city of just over 15.6 million inhabitants and saw its legislators pass a measure some three weeks ago that is to allow local land-based bingo, slot and casino operators to launch compatriot online services. Codere has reportedly been active in Argentina for approximately 30 years with its 13 area venues currently offering around 6,850 gaming machines and has now become the first such enterprise to have an iGaming application approved by LOTBA.
Codere will now reportedly be required to implement the strategies laid out in its proposal to LOTBA encompassing such things as a requirement that it integrate local player protection measures into its coming iGaming platform. The operator purportedly pronounced that this extensive process has already begun after it paid the $30,000 licensing fee, handed over a $2 million compliance guarantee and agreed to make annual $100,000 renewal payments.
Buenos Aires is legally distinct from the rest of Argentina and had reportedly intended to premiere legalized iGaming earlier this year after receiving some 17 license applications. However, a change in government delayed the process and it purportedly remains to be seen whether the seven firms who had been highly tipped for authorizations, which had included collaborations from big-hitters such as William Hill, Bet365 and Intralot, will now be granted ultimate permission to go live alongside Codere.