Other global giants such as William Hill and Playtech also secured a license in the growing Argentine market. As for the investment of each licensee, this, according to article No. 3, must be $65 million (US$770k) as a "single fixed charge", with a first payment of $26 million (US$310k) at the time of formalizing the agreement.
Article No. 2 of resolution 795-IPLYCMJGM-2020, which is dated December 29, 2020, establishes that it grants "the License for the development of gambling activity under the Online modality to Licensees":
1.- "ARGENBINGO S.A. - WILL HILL LIMITED S.A. SUCURSAL ARGENTINA (UT)";
2.- "HILLSIDE (NEW MEDIA MALTA) PLC - PASTEKO S.A. (UT)";
3.- "HOTEL CASINO TANDIL S.A. - DYNAMO TYCHE S.A. - PLAYTECH SOFTWARE LIMITED (UT)";
4.- "CASSAVA ENTERPRISES (Gibraltar) LIMITED - BOLDT S.A. (UT)";
5.- "ATLANTICA DE JUEGOS S.A. - STARS INTERACTIVE LIMITED (UT)";
6.- "BINBAIRES S.A. - INTRALOT INTERNATIONAL LIMITED (UT)";
7.- "CASINO DE VICTORIA S.A - BETSSON MALTA HOLDING LIMITED (UT)"
Meanwhile, article Nº 1 indicates «to remove BINGO PILAR S.A. from the Registry of Aspiring Licensees. - PPB COUNTERPARTY SERVICES LIMITED SUCURSAL ARGENTINA (UT), not carrying the same right to any compensation from the applicant."
The text also clarifies how the participation of foreign companies should be: “The organization and exploitation of the activities object of this Title may be, according to each case, carried out by human or legal persons, public or private entities with registered address in the Province of Buenos Aires.
In the case of foreign legal persons, they may only be presented under the modality of a Temporary Union of Companies - UTE - with another national legal person and provided that the latter has a social participation of not less than 15% with respect to the first."
Regarding personal names, much was said about the presence of Daniel Angelici, former president of Boca Juniors and partner in several bingo halls in Buenos Aires, within this tender. Whoever was ex Argentina president Mauricio Macri's right-hand man in his presidency is linked to Atlántica de Juegos S.A:, Stars Interactive Limited.
The Provincial Directorate of Administration and Finance of the Provincial Institute of Lottery and Casinos (IPLyC) will be in charge of resolving "the method of payment of the fee to be made by each Licensee" in accordance with the provisions of the specifications.
The resolution also orders "Intimate that within ten (10) days of notification of this act, each Licensee included in article 2, present the Performance Guarantee."
Source: GMB
