Chile is wagering on internet gambling to aid in its recovery from the economic hit caused by the COVID-19 outbreak. Francisco Moreno, the Assistant Finance Minister, revealed that the administration will put forward legislation to automatically extend the permits of 14 gambling establishments scheduled to lapse this year.
This prolongation would also clear the path for these establishments to initiate internet betting platforms. However, these platforms would be under stringent location-based restrictions within Chile. Moreno highlighted the significance of this action, saying that he doesn’t desire the permit renewal process to be stalled and potentially affect local government income for the following 15 years.
In return for this digital chance, the government is requesting gambling establishments to consent to a provisional rise in their total tax percentage, raising it to 25% for a one-year timeframe.
This choice arrives as the nation’s casinos confront an extended closure. Originally shut down in the middle of March, the government lately declared they might not be permitted to reopen until September or October. This has been especially challenging for municipally-held casinos, which depend significantly on gaming income.
Increasing the strain on the circumstances, Chile’s gaming authority, the Superintendencia de Casinos de Juego, has openly supported permitting casinos to function online. They underscore the necessity for a strong tax and regulatory structure to guarantee ethical operation.