Colombian gambling regulator focuses on slot machines in its latest move
Colombia's gambling regulator Coljuegos has announced plans to crack down on unlicensed slot machines. The move comes after a tumultuous year for Cole Hugos, which has had three presidents since January.
In an effort to curb potential revenue losses, regulators estimate there could be as many as 50,000 unauthorized slot machines operating across the country, which would cost Colombia some 945 billion Colombian pesos ($238.14 million). This number represents one-third of the entire legal gambling market.
An important aspect of the scheme is that all slot machine operators must register, with the exception of licensed casinos. Under the proposed regulations, these operators would be limited to a maximum of 80 slots, with the exact number depending on the size of the venue.
Regulators are also considering placing limits on the amount of bonuses offered by these slot machines to further regulate and regulate the industry. Additionally, new rules for the deployment of slot machine technology in the country are also on the table, aiming to increase oversight and ensure compliance.
Feedback time is limited
Coljuegos has opened space for industry to provide feedback on these proposed measures, but the window for input is limited. Stakeholders and industry players have until Thursday to present their findings and views on possible changes.
After receiving and analyzing feedback, the regulator will begin rolling out updated rules, develop new financial commitments and release information about approved sites. This list only contains new units, i.e. units that are not yet available with Coljuegos.
Current Resignation
The crackdown on unauthorized slot machine operations is in line with Coljuegos’ commitment to improving the integrity of Colombia’s gaming industry. It is also the latest attempt by regulators to prove themselves. The company has had to deal with a number of issues this year, including corruption allegations, which have damaged its image.
Part of the problem is the revolving door at the top of the organization. Roger Carrillo Ocampo was Coljuegos president at the beginning of the year, but he left after publicly criticizing the government.
Sammy Libos Zuñiga took over after resigning in May. At the time, he was deputy director for fiscal policy at the Colombian Ministry of Finance and Public Credit. Although it was known at the time that Zuniga would only join on a temporary basis, it was possible that the economist would be offered a permanent position.
That changed in July, when Marco Emilio Hincapié Ramírez, a lawyer and former executive director of the Bogotá lottery, spoke before Colombian President Gustavo Petro. Petro became the third president of the year. Hincapié is also the company’s fourth president since its founding in 2012.
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Source: www.casino.org
