According to a statement released by the Board: "Law No. 19,995 guarantees the continuity of the seven municipal casinos for a total of three periods of fifteen years each, and sets out the procedure for granting operating permits for the specified cases and refers to the transition of the current concessions, it authorises the continuity of the operation of these until a new operator – adjudicated under the procedure indicated by the law – is in a position to operate.”
The circular ratifies Law No. 19,995 (Chile’s casino law) when it comes to the extension of the municipal licences. The seven municipal licences will remain in effect until the SJC issues a certificate attesting to the fact that the new casinos comply with a number of strict legal and regulatory obligations.
While the statement says that Law Number 19.995 sets a deadline for 31 December 2017 for the municipal governments and the current licence holders to agree on new contracts and extensions, the law according to the SJC, does not actually set December 2017 as the deadline for the new casinos to be operational.
It could provide the SJC some breathing
room when it comes to the process of granting new licences which has suffered a
number of delays and setbacks. In October last year the SJC announced that it
had decided to postpone the hearing for the submission of tenders for the
bidding for the municipal casino licences which had been scheduled to take
place on November 4th.
According to a statement released by the SJC via its website the decision was
made while the The Santiago Appeals Court considers a number of motions put
forward by investors. Investors have filed a writ of amparo – a remedy for the
protection of their constitutional rights. A number of companies have argued
that the demands put on operators applying for the casino licences are
excessive and would make the businesses unprofitable.
According to the statement released by the SJC, at the time all seven of the
municipal casino licences are now on hold and will resume once the court has
made its decision.
SourcE: GMB / G3 Newswire
