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Exclusive

Jonathan Félix Vilchez: “The Peruvian market has a promising growth perspective in the coming years"

Thursday 06 de June 2024 / 12:00

2 minutos de lectura

(Perú, Soloazar exclusive).- In this second part of the interview with Jonathan Félix Vilchez, CEO of Global Business Company de Perú S.A.C, a company specialized in consulting, business development and new investment projects in the gaming sector, financial and value-added services, we continue to delve deeper into the legislation and regulatory framework of the gaming market in Peru.

Jonathan Félix Vilchez: “The Peruvian market has a promising growth perspective in the coming years"

Taking into account that Jonathan Félix Vilchez is an expert in the subject of regulation in the gaming market, we asked him what requirements must companies meet to obtain an online gaming and sports betting operating license in Peru. He answered that “Because The date has ended the 30-day period established by law for companies that were already operating in the market before its entry. Currently, any national or international company must apply for authorization as a new operator, and must comply with the requirements specified in the technical regulations, these being some of the key points to take into account.”

He then exemplified that “The Peruvian regulator grants licenses for a period of six years, these being renewable for a similar period.

There are two types of B2C licenses:

●     License to operate Sports Betting Games

●   License to operate Remote Games. The companies that can request the exploitation right are:     ●   National Companies: that have been incorporated in the country, and these may be national or foreign partners.

●     Non-domiciled companies that open a branch in the country.

●  Non-domiciled companies that appoint and register a legal representative in the country. The National Superintendence of Public Registries (SUNARP) is responsible for making this registration after compliance with the established requirements.

As established by law, only national companies can operate Sports Betting games in the traditional retail channel and the online channel. This is an important point to take into account according to the business model and plan.

Being a new company, and in accordance with what is established by law, they must present a letter of guarantee for 600 Tax Tax Units (UIT), equivalent to US $830 thousand US dollars for each license. It is important to specify that this is not a payment to the Peruvian state, it is a financial instrument to guarantee compliance, which will be returned to the operator in the event that it decides not to continue in the Peruvian market.

Comply with the approval of the platform, game programs, the verticals permitted by law, and all related services, and must comply with the technical standards specified by the technical regulations.

How are traditional games of chance (such as casinos and bingos) regulated compared to online games in Peru?

The Ministry of Women and Vulnerable Populations (MIMP) is the regulatory entity for Lottery games. It exercises this function through the General Directorate of Charitable Societies, in application of current laws and Legislative Decree 1411. In the case of Lottery Games, according to the regulations, only Charitable Societies and Social Participation Boards are the only ones authorized to operate lottery and similar games, directly or in association with private companies. In the case of association with private companies, they must go through a public bidding process, in accordance with what is established by law. Lottery game licenses are granted for operation in the national territory, and can be exploited in the traditional retail channel and in the online channel. In the tax aspect, the law has established a special exploitation right (called Selective Consumption Tax - ISC) that corresponds to 10% of the sale on the GGR, and a commission on the gross sale of 6%, which is transferred to the Charity Society with which the private company has the contract. To date, there are on average three companies that have been operating lottery games in the national territory, in strict compliance with the law, one of the most representative being La Tinka, with a history of close to 30 years in the national market.

In the case of Bingo games that are exploited in the traditional retail channel, they are subject to the authorization of exploitation and supervision of the Provincial and District Municipalities where the game rooms are located. In the case of Online Bingo games, these are included within Law 31557 that regulates Sports Betting Games and Online Games, under the exploitation right established by law (12% over GGR). Physical Casino and Slot Machine games are regulated by Law 27153 and its technical regulations, which came into force 18 years ago.

Payment and advertising methods

Are there specific restrictions regarding payment methods and financial transactions for gaming operators in the country?

In the case of sports betting games and online games, the use of cryptocurrencies is prohibited, and all conventional payment methods and national FIAT money (Peruvian soles - PEN) are permitted.

How does Peru regulate gaming advertising and marketing in the country?

In the case of sports betting and online games, the law has established that the media must sign commercial contracts only with companies that have the operating authorization issued by the regulator. Therefore, it is up to the media to verify this before signing contracts. This verification that companies have operating authorization extends to professional football clubs, athletes and related associations.

Finally, we asked Vilchez to give advice to a company that wants to enter the Peruvian online gaming and betting market and he explained that “In addition to reviewing the law and technical regulations, we consider it important to take the time necessary to obtain advice on the investigation. and knowledge of the potential Peruvian market for the preparation of the business plan, budget, commercial strategy, innovative and disruptive value offer that will be offered to the market. "The Peruvian market has a promising growth perspective in the coming years, in this new stage."

Categoría:Exclusive

Tags: Sin tags

País: Peru

Región: South America

Event

PGS, Perú Gaming Show 2024

12 de June 2024

Emotional tribute to Manuel San Román Benavente at PGS 2024

(Lima, SoloAzar Exclusive).-During PGS 2024, a moving posthumous tribute was carried out to the engineer Manuel San Román Benavente who died at the age of 74 and was General Director of the Casino of games and slot machines of the Ministry of Foreign Trade and Tourism of the Peru.

Friday 12 Jul 2024 / 12:00

GLI Perspectives on Gambling Regulation in Latin America

(Lima, SoloAzar Exclusive).- In an exclusive interview with SoloAzar, Georges Didier of Gaming Laboratories International (GLI), offers his perspectives on the evolution of gaming regulation in Latin America and the crucial role of GLI in this dynamic landscape.

Friday 12 Jul 2024 / 12:00

Implementation of robust identity verification systems by 2024 expected

(Lima, Exclusive SoloAzar) - During the conference "Knowing your players, AI, and fradue" at the Peru Gaming Show, Samer Atassi, Vicepresident for Latam at Jumio, addressed the growing concern about online gambling security and highlighted the importance of knowing your players to prevent fraud and protect minors.

Thursday 11 Jul 2024 / 12:00

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