JUE 25 DE JULIO DE 2024 - 10:36hs.
Jonathan Vilchez, CEO de Global Business Company

Peru: deadline for the entry into force of sports betting and online games law

The Law that regulates the operation of Sports Betting and Online Games will come into force on February 9th, 2024, and the deadline is currently running for all interested parties in the Peruvian market to adapt to the terms and conditions of this law and the technical regulations. Jonathan Daniel Felix Vilchez, CEO de Global Business Company de Perú S.A.C., prepared the work schedule that is in the process of being executed by the regulator for interested in applying.

The regulator MINCETUR through the technical regulation has set 270 days (9 months) for companies that are currently operating in the Peruvian market and decide to apply for exploitation authorization, comply with the technological requirements and established certifications. This period began on October 14th, the day after the technical regulation document was published and we estimate that this period ends on July 14th, 2024.

From our review of the technical regulations and the meeting we attended at the regulator's offices, we have prepared the work schedule that is in the process of being executed by the regulator and that those interested in applying for the operating and approval authorization should take into account.

It is important to point out that an additional benefit in addition to the time frame is that companies that apply for operating authorization will not interrupt their operations. In the case of new operators, they may apply for the operating authorization under the terms and conditions set by the law and the technical regulations, but they will only be able to start their operations when the regulator grants the operating authorization.

 

 

Providers of technological platforms, the verticals allowed by law, have the obligation to request the authorization and registration (homologation) of their solutions according to what is established, the first key task being to appoint and register a legal representative in Peru, who executes all the legal, administrative and technical procedures, to achieve the homologation and continue providing their solutions to the operators that achieve exploitation authorization.

According to this work schedule, in January 2024, the technical tests of interconnection of the platforms with the MINCETUR data center will be carried out, verifying, among other key points, connectivity and data transmission. This is a task that will be carried out in coordination and at the request of each stakeholder.

On February 9, the law comes into force, from February 10th to March 10th the regulator will receive applications for Authorization to Operate Sports Betting and Remote Games, with operators having to submit the applications according to their business plan. In this same period, the regulator will receive applications for Authorization and Registration (Homologation) from platform providers, and all verticals allowed by law and technical regulations.

At the end of this period for receiving applications, the regulator has 30 days to review, observe and deliver the operating authorizations to the operators who have made the request and comply with the parameters of legal, administrative, background and financial solvency evaluation. This same deadline applies to authorizing and registering (homologation) certification laboratories, platform providers, and all gaming verticals permitted by law. This period is between March 11th and April 11th.

On March 11th, the regulator officially and uninterruptedly begins its control and inspection function, for which it is empowered by the law and the technical regulations that have established a detailed table of infractions and sanctions with economic fines ranging from US $1,300 to US $260,000, the cancellation of the exploitation authorization and disqualification for up to 10 years or permanently.

We consider that the period of 270 days is reasonable and will make it possible for the companies currently in operation, and decide to apply for the operating authorization, to effectively comply with all the established technical requirements. Our consulting company will provide information and specialized advice to platform and vertical providers allowed by law, who are interested in continuing to provide their solutions and services in the Peruvian market.

Jonathan Daniel Felix Vilchez
Senior international executive and entrepreneur, with more than 22 years of experience in the gaming industry in Latin America. He has been part of the staff of international companies operating in Peru. In addition, he has advised international companies based in the United States, Europe and Asia for the development of businesses and projects in the Latin American region.
He is CEO of Global Business Company de Perú S.A.C. https://globalbusinesslatam.com/ a company based in Peru, specialized in consulting, business development and new investment projects in the gaming, financial services and value-added sectors.