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Argentina – Slot revenue quadruples in eight years in Cordoba Province

By Phil - 21 January 2015

Slot machines located in slot parlours are the fast fastest growing sector in gaming in the province of Córdoba.

In 2007 $57m pesos was bet throughout the territory of Cordoba in slot parlours.

By the end of 2014 this figure had increased to $256m, around $20m, meaning that slot machine revenue has more than quadrupled in the last eight years.

According to statistics gathered by the local government, revenue generated by slot parlours have greatly outpaced other gaming in the province including casinos where revenues in casinos have doubled in the last seven years rising from $59m pesos to $127m pesos.

According to the Lottery of Cordoba (Córdoba Lottery SA) lotteries, raffles and bingo have also shown a sharp increase and combined still account for the lion’s share of gaming income. In 20017 locals gambled a total of $125m on lotteries and bingo while in 2013 this figure had increased to $420m.

In Cordoba money generated by gaming is divided between seventeen local municipalities, and slot parlours are operated by operator Compañía de Entretenimientos y Turismo (CET) which runs 19 slot parlours in 17 locations throughout the province. Tax income generated by the company has increased significantly since 2007 when a total of 7,106,118 pesos were distributed among the 17 municipalities. In 2008 this increased to 10,355,739 pesos and while there was a slight decline in 2009 gaming tax revenue had quickly risen to 11,731,912 by the end of 2010. In 2011 revenue increased again to 16,691,513 pesos while in 2012 tax revenue generated by slot machines stood at 21,099,714 pesos.
The province of Cordoba which is located in the geographical centre of Argentina is becoming an increasingly popular tourist destination for locals and in common with the rest of the tourist industry in Argentina has benefited from the sharp growth in the domestic tourism.