In 2022, the President of the Republic of Peru signed Law 31557 to regulate online gambling and sports betting in the country. This enactment had a great impact on the iGaming business in Peru. SOFTSWISS Regional Business Development Manager, Jonathan Felix Vilchez, gives his expert view and draws the first conclusions about the resulting changes in the comment below.
The Peruvian gambling market is one of the most lucrative destinations for international investors seeking new grounds to land their projects in the iGaming sector. Over the last five years, the Peruvian market has seen the sports betting and online gaming sector grow exponentially, especially during the two years of the COVID-19 pandemic.
For this reason, in July 2022, the Congress of the republic approved the law to govern remote sports betting and online games. In August of the same year, the government finalised Law No. 31557 to regulate this activity, designating MINCETUR as the regulatory body, which is currently in the process of preparing the related technical regulations.
With the Law approved, Peru has become the fourth country in the region to regulate this market (after Colombia, Panama and Argentina). According to the preliminary estimates, this sector’s share in the national GDP structure is 0.7% on average and is projected to grow more than 1.5% a year in the coming years. That is why our country, same as Brazil, has become an attractive destination in the region for local and global investments.
As in any other regulatory process, there are some aspects of the law that need to be adjusted and clarified. In this respect, in November 2022, congresswoman Lady Camones presented draft law 3595-2022 which includes a number of important clarifications that, in my opinion, would be a valuable addition to Law 31557 and which, once in force, would help consolidate, grow and mature the Peruvian market to generate more revenue for the state through the rights of use.
So, I expect that this important change will be very productive for the stakeholders and that it will give everyone an insight into the law, the current market, the challenges associated with the enactment and the opportunities for national and international companies in this new phase of the regulated market.
I believe that it is an important opportunity for major global iGaming providers, such as SOFTSWISS, who are committed to the industry and regulated markets, to become part of the process. They can contribute to the development and strengthening of the Peruvian market through their expertise and by designing and adapting their solutions to this type of market, regulators, operators and players.
SOFTSWISS, a leading tech company for the iGaming industry, will be showcasing its solutions and offerings at the following events in Latin America: GAT Expo (29-30 March, Colombia), SAGSE LatAm (19-20 April, Argentina) and CGS LATAM ( 30-31 May, Chile). All visitors are invited to book a meeting with the company’s business development managers and find out more about SOFTSWISS’ innovative products and solutions.
About Jonathan Daniel Felix Vilchez
Jonathan Félix Vilchez is an international executive with over 20 years of experience in the gambling industry in Latin America. He has been working for international companies with operations in Peru. In addition, he has advised international companies based in the United States, Europe and Asia on 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, specialising in consulting and business development in the gaming and financial sectors. He currently serves as Regional Business Development Manager in LatAm of the international iGaming firm SOFTSWISS.
SOFTSWISS is an international iGaming company supplying certified software solutions for managing gambling operations. The expert team, which counts 1,500+ employees, is based in Malta, Poland, Georgia, and Belarus. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a bitcoin-optimised online casino solution.
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Great Canadian Entertainment Appoints Pauline Alimchandani as CFO
Great Canadian Entertainment has announced that it has appointed Pauline Alimchandani as Chief Financial Officer, effective March 31, 2024, subject to customary regulatory approvals. At that time current CFO Darren Gwozd will step down from the role. Ms. Alimchandani will be responsible for overseeing the Company’s finance organization.
“I am delighted to welcome Pauline to our exceptional senior management team. Her extensive public company experience and deep record of successful leadership roles in finance, capital markets and financial reporting, will be immensely valuable as we continue to remain focused on delivering long-term growth and creating value for our stakeholders in a socially responsible way. I look forward to her contributions,” Matthew Anfinson, Chief Executive Officer of Great Canadian, said.
“Darren has been a valuable member of our Finance team for more than six years and has helped lead our organization through a transformational period. On behalf of the Board of Directors, the senior management team, and Great Canadian’s team members, we want to thank Darren for his many years of leadership,” Mr. Anfinson added.
“I am very excited to join Great Canadian and see significant opportunity to build upon the Company’s strong financial and operational foundation, while developing capabilities that further establish the Company’s competitive advantage,” Ms. Alimchandani said.
Prior to joining Great Canadian, Ms. Alimchandani was Chief Financial Officer for Northland Power, where she oversaw a large global team across several key functions and chaired the organization’s Investment Committee. Ms. Alimchandani has over 18 years of professional experience, previously having served in roles that included Executive Vice President and Chief Financial Officer of Dream Unlimited Corp, Vice President, Corporate Strategy at Dream, and Vice President, Equity Research at BMO Capital Markets. In 2020, she was awarded one of Canada’s 50 Best Executives by the Report on Business/Globe and Mail and in 2022, she was awarded Canada’s Clean 50, which is noted as being Canada’s top sustainability award.
Clarion Gaming Digital Expands North American Reach with Global Gaming Business Acquisition
iGaming Business (iGB) parent company Clarion Gaming Digital has acquired Global Gaming Business (GGB) as it accelerates its growth strategy across North America.
The purchase includes GGB magazine’s annual publications Casino Style, Tribal Government Gaming and Progressive Products Preview (P3) as well as its online assets including GGB News.
It will extend the digital publishing business’ global reach as the North American market enters a crucial phase, providing clients with access to a significantly bigger audience through its range of marketing services products.
Founded in 2002, GGB is trusted title with a reach beyond sports betting and iGaming into commercial and tribal gaming. It bolsters Clarion Gaming Digital’s ability to provide a comprehensive range of news, analysis and data to every sector of the industry.
The acquisition is a cornerstone of a wider multimillion pound investment to enhance Clarion Gaming Digital’s data and audience development.
“This is a major milestone for our digital business as we unlock the benefits of our investment,” the Managing Director for Clarion Gaming, Alex Pratt, said. “We are acquiring a business with deep industry heritage and with it the opportunity to build on its solid foundations in the United States.”
The B2B Global Content Director for Clarion Gaming Digital, Robin Harrison, said the acquisition came amid changes to state regulations as well as new land-based and online developments across the United States and Canada.
“We are delighted to seal this deal, which brings in new industry expertise to the team, expands our reach and consolidates our presence in a crucial region,” Harrison said. “We will build an offering that acts as the final word on key industry developments and GGB’s authority and relationships takes us a step closer to that goal.”
“We have had lengthy discussions with Clarion Gaming Digital in recent years and believe it shares our passion and vision for serving our readership in a way that will maintain the quality of the publications for decades to come,” the publisher and Chief Executive Officer for Casino Connection International LLC, the parent of GGB, Roger Gros, said. “As the gaming industry continues to grow in many different ways, our relationship with Clarion will make certain that our pivotal role in the industry remains unchanged and we can continue our important work going forward.”
Clarion Gaming Digital plans to further accelerate its North American expansion by leveraging unique partnerships on offer through the wider Clarion Events portfolio such as the DigitalPlay Summit at the Indian Gaming Tradeshow and Convention over April 10 to 11.
ReactivAction Limited Partners with Fast Track to Underpin Growth Strategy, Starting with the Brazilian Market
ReactivAction Limited, an ambitious new player in the iGaming industry offering online casino games and sports betting, has gone live with Fast Track, marking a strategic move to cement a stronghold across multiple markets, starting with Brazil.
This partnership not only marks a dynamic alliance but also a ground-breaking integration of Fast Track with Altenar’s renowned player account management (PAM) platform. This innovative collaboration highlights Fast Track’s exceptional ability to seamlessly integrate with various leading iGaming systems, further cementing its position as the industry’s most versatile and adaptable CRM solution provider.
With plans to expand beyond Brazil into Canada, New Zealand and Ireland through a second brand, ReactivAction Limited was on the lookout for a long-term partner that not only understands its growth trajectory but is also a critical driving force behind its growth. By leveraging Fast Track’s state-of-the-art AI-driven tools, lifecycle automation and real-time data analytics, ReactivAction Limited is poised to elevate its player engagement and retention strategies. This advanced technology empowers ReactivAction Limited to customize communications, personalised promotions and bonuses, aligning them with individual preferences and behaviours for a more tailored and engaging gaming experience.
“We were looking for a platform that sets us up for success from day one, making it possible to execute and automate the entire retention strategy, a system that could scale and mould around our expansion and provide solutions to our unique challenges,” the Director for ReactivAction Limited, Leone Stranges, said. “Fast Track’s lifecycle templates, real-time capabilities and experience within the industry made it a straightforward choice.”
“We are always excited at the prospect of empowering a forward-thinking operator through our platform,” the founder and Chief Executive Officer for Fast Track, Simon Lidzen, said. “We look forward to a fruitful long-term relationship to support ReactivAction Limited’s growth trajectory as it expands its brand into new markets.”
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