Coljuegos Reveals Profits From Industry Tax Up

Publishing its statement for 2019, Coljuegos, Colombia’s national gambling regulator announced that profits from industry taxes amounted to COL$680 million (€ 185,000), with funds expected to be allocated to national health services in Colombia.

The 2019 figure for the Colombian regulator reflects a 16 percent increase in gambling tax revenues raised during 2018 from the COL$574 million (€ 151,000).

A review of figures saw’ local’ gambling halls and bingo establishments produce 57 percent (COL$ 382 m) of 2019 industry profits, as Coljuegos surpasses the COL$ 3 billion (EUR 800,000) mark in funds raised for Colombian health services since its creation in 2012.

Elsewhere, online gambling which is the newest regulated vertical market in Colombia, saw an 81 percent increase in tax revenue producing COL$70 million, representing 10 percent of total tax revenue.

Detailing increased tax revenues reported across all regulated gambling disciplines, Coljuegos reports that its regulatory enforcement has been helped by the crackdown on illegal gambling premises carried out by the federal police of Colombia during the 2018 and 2019 period.

Updating stakeholders, Coljuegos President Juan Perez Hidalgo emphasised that the increased tax efficiency of Colombian gambling has helped business regulation by the regulator.

Closing its legislative agenda for 2019, Coljuegos Governance has approved a competitive bid for the right to operate the iconic weekly TV draw-based lottery game ‘ Super Astro’ for a five-year term.