The Colombian government announced last week the issuance of this new online gaming license that favors the Vinnare SAS Group. This is the 18th license issued by the Colombian gaming regulator Coljuegos in a market that still has the capacity to house more operators.
The Vinnare Group was authorized to operate online casino games and sports betting for three years, through the Fullreto.co website, which is not yet available to the public. The Vinnare Group is a local company incorporated in Bogotá in November 2017.
The incorporation of a new licensee to the Colombian gaming industry was celebrated by the president of Coljuegos, Juan B. Perez Hidalgo. The new company is also expected to help boost the gaming industry and support the financing of medical programs in the country.
Online games account for about 10 percent of the overall game revenue received by the Coljuegos regulator. These revenues have been used to finance medical programs that have covered 47,000 residents in the last three years.
Colombia passed online market legislation in 2016 and became the first South American country to launch online games. As of August 31 of this year, 2.63 million combined active accounts had been opened nationwide in that regulated market.
According to Perez Hidalgo, this reflects the market’s success in convincing the country’s players to support regulated online gambling sites.
The progress of online games also manifests itself in the growth of income. During the first quarter of this year, revenues grew 63% compared to the same period in 2018.
However, the issuance of licenses has begun to be drastically reduced, since this year only two licenses have been issued, including that of the Vinnare Group.
The Colombian regulator wants its licenses to be attractive to current and future operators, so it continues to work in this direction. This included a query about whether it is necessary to introduce some changes to the regulations in force since 2016, which allow online sports betting.
The date for the submission of proposals by the operators closed on September 10, but Coljuegos has not yet said when licensees could add new products online.