The Peruvian government has proposed a legislative amendment to regulate licensed premises in the country, suggesting the addition of sports betting annexes to existing authorised casinos.
The bill, tabled by Lima Province congressman Percy Eloy Alcala Mateo, outlines a three year renewable licensing period, controlled and audited by the Ministry of International Trade and Tourism, in a move to capitalise on a growing South American betting market.
“If we consider Peru as the first country that passed a law for onsite gambling, we must arrive to the conclusion that we are facing a mature market,” said Ruben Solorzano, managing director of Peru Gaming Show organisers AMG.
“There is a considerable infrastructural and human resources platform that is well prepared to support new business investments.”
The amendment, yet to be approved by Congress, allows for a six month transitional period to bring the existing sports betting industry into a nationally regulated space.
“The companies that, to date have been operating, advertising, organizing or offering land-based sports betting have a 180-day term, as from the date in which this law becomes effective, to comply with this law,” stated the proposal.
Though Solorzano added that any initial investment would be “step by step,” she anticipated that the country could soon create “a totally integrated large and regulated gaming industry that would turn Peru into a market model for Latin America.”