Peru will soon become the home of online casinos and online sports books following a new law enacted by the Congress.
According to a report from YogoniteThe new law imposes a 12% tax on industry. It is not clear which operators are eyeing the market. American online betting giants like MGM And Caesars might be interested.
The measure was reportedly widely supported, and had near-unanimous approval.
Part of the new regulatory framework will include responsible gaming rules.
“Responsible and healthy gambling, in a social market economy and mobilizing over a billion dollars, is an activity that should be taxed,” said Gonzalo Perez, Vice President of the Peruvian Federation of Online Sports Betting. “No one can generate profits without being subject to taxes. Profits, then, go to health, education, tourism development and sports.”
Peru has a population of about 32.8 million, slightly less than the state of California. The new law also allows for land gambling establishments.
Other South American countries including Colombia and Brazil have recently taken steps to modernize legal gambling. Some US operators have continued to operate in the region.