Juan B Pérez Hidalgo, Colombian regulator president of Coljuegos, disclosed to La República that a live vertical casino could start operations in June to support the gambling sector.
Trade body Fecoljuegos has released a comprehensive study on the economic impact that bingo and casino closures have had across the region. According to the report, the lack of revenue resulted in a loss of $15 m in contributions from licenced operators to the health sector.
The federation, which unites the majority of the country ‘s approved businesses, insisted that the one that will produce the most revenue for the state is a land based vertical. While the government has allowed reopening of certain industries, casinos and bingo still can not resume their operations.
Fecoljuegos President Evert Montero Cardenas explained: “The 365 concessionaires who are authorised to operate 2,765 establishments, represent more than 60% of the revenue that Coljuegos perceives in taxes. In 2019, this vertical sent around $100 million to the health sector and $45 million from taxes to the public finances.
“Operators are looking for ways to reduce expenses in order to guarantee employees’ payrolls and protect the 60,000 jobs that this sector generates. We also have to mention the lack of access to financial institutions, since they’re not granting credit lines for the gambling industry.”
In addition, the official statement revealed that Colombia’s land-based casino and bingo sector representatives hired a biosecurity consultant to “make a protocol with the sanitary measures required by the Ministry of Health, adjusted to the gambling halls.” Staff are also being trained to “build confidence among players.”
Since Coljuegos approved the vertical in late April, the operators would be able to offer live casino.
Although the challenge is to incorporate land-based operators into the vertical live casino, mandatory confinement should allow online operators to draw an audience previously unaware of that.