To counterbalance financial setbacks stemming from the COVID-19 outbreak, Chile has approved internet-based wagering.
This past week, Francisco Moreno, Chile’s assistant finance minister, declared that the administration will present legislation to lawmakers that would involuntarily extend 14 gaming venue operational permits due to lapse this year.
With their permits reinstated, gaming venues would be permitted to establish “distant gaming” sites to lessen the impacts of the coronavirus epidemic, although these sites would be bound by rigorous location limitations. Moreno stated that he does not desire the permit renewal process “to transpire under unfavorable circumstances that will ultimately impact municipal earnings for the subsequent 15 years.”
In return, Moreno anticipates gaming venues to consent to a 5% rise in their comprehensive tax levy on gross gaming income, elevating the total to 25% over the 12-month prolongation period.
This follows the government’s declaration last week that gaming venues might not be able to recommence operations until September or October of this year.
All 26 of Chile’s gaming venues were compelled to shut down in mid-March as a consequence of the worldwide pandemic.
This has been especially challenging for those gaming venues managed by regional administrations, as their operational funds depend significantly on gaming income, with some venues producing over half of their overall revenue from wagering.
The Chilean gaming authority, the Superintendencia de Casinos de Juego (SCJ), which is tasked with overseeing the terms and activities of wagering venues in Chile, has openly advocated for venues to be permitted to function online, contingent upon the government establishing a “practical tax and regulatory structure.”