Interactive
Colombia – Coljuegos grants seventh online licence to Masgol.co
By Phil - 30 January 2018
Gaming regulator Coljuegos has granted another company permission to operate online gaming in Colombia taking the total number of licences to seven.
The president of Coljuegos, Juan B. Pérez Hidalgo, reported last Friday that Inverstark has been granted a five-year licence to operate sports betting site Masgol.co. The estimated value of the contract stands at $3,192,132,019 (US$1,134,430).
According to the Coljuegos press release, in December the board collected $41,783,964,897 (US$14,849,300) in licensing rights of which $1,602,548,324 (US$569,517) was generated by online games.
“In Colombia, those who meet the financial, technical and legal requirements established by Coljuegos can operate games of chance and chance online. There are now seven websites that offer online gambling legally in Colombia: Wplay.co, Betplay.com.co, Colbet.co, Zamba.co, Codere.com.co, Mijugada.co, and now added to this is Masgol .co,” he said.
Hidalgo went onto emphasise the positive impact online gaming legislation has had on the industry. “With the regulation of Internet-operated games launched by Coljuegos in November 2016, Colombia became the first country in Latin America to regulate this type of game. With this initiative, we seek greater resources for the health of Colombians, expanding the portfolio of games through innovative tools and in tune with global trend towards greater use of new technologies in the world,” he said.
Hidalgo also emphasised that with the help of the National Police that the board would continue to block unauthorised websites and promote the entry of more legal operators to help increase resources for the public health sector.
Online gaming laws began to be tightened after legislation was passed in 2016. According to new regulations, operators granted a licence must adhere to a number of strict obligations and meet the technical requirements as per the terms granted to it by the state. Meanwhile, Coljuegos with the help of the National Police has continued to manage the blocking of unauthorised web pages.
Earlier this month Hidalgo announced plans to grant as many as 20 new online gambling licences in Colombia this year. According to the head of the gaming board, many foreign companies have shown their interest in investing in Colombia now that Colombia has updated and tightened its online gaming laws.
