Gaming Law Peru
Although unlicensed for the most part, gambling has been a very popular pastime in Peru for the last two decades. However, a few years ago the Peruvian government decided to clean up the gambling industry by regulating it through the promulgation of Law #27153 (later modified by Law 27796). As a result of this regulation, the Peruvian government issued its first ever online casino license to global online gambling operation Betsson in early 2008. Since then, a handful of other online casino licenses have also been issued without restricting access to offshore online gambling sites.
Peru’s gaming industry was especially turbulent towards the end of the previous millennia. The government debated whether outlawing gambling altogether or regulating and taxing it. Fortunately, they opted for the latter and currently the Peruvian government allows gaming throughout the country. This provides tourists and locals with the chance to wager in casinos, slot machines, lotteries and horse races. There are many laws that govern the specifics about gaming locations and operations, and while the government used to review applications by the hundreds, that number has since dwindled considerably. Moreover, at some point, the Minister of Foreign Trade and Tourism passed regulations to control and mitigate money laundering in casino games and slot machine operations, but as former US Ambassador to Peru, Michael McKinley revealed in his diplomatic cable then: “The gaming sector is thus wide open to money launderers, drug traffickers, and counterfeiters, both Peruvian and foreign… The sector badly needs reform”.
Overall, Peru’s gaming industry is a free and open market that has no minimum quota of licenses that the government can grant on a yearly basis. That being said, as long as the interested business meets all requirements and a good Peruvian Gaming Law expert from MONTEBLANCO & ASSOCIATES is spearheading the license procurement process, obtaining said permit would be expedient and effective. The financial prosperity that Peru has maintained for over 5 years has set the foreground for the more then 70,000 slot machines and 800 slot parlors in Peru, not including bingo, casino table games, lotteries, horse races, sports betting and Internet gambling.
Peruvian gaming regulation is complex to navigate and difficult to implement. Case in point, what is the reason why some slot machines currently in arcades come under one specific set of rules, while other slots present in four and five-star hotels and restaurants, come under another? Additionally, the government requires casino slot machines to be tied online with the Ministry of Foreign Trade and Tourism and the Peruvian Tax Bureau, under the premise that gaming is believed to be mainly for tourists. Moreover, casinos must obtain four separate licenses, for which regional governments get to have a say in part of the approval process as well. We believe that growth will be more noticeable when sports betting gains additional notoriety in Peru, but for the time being, casinos and slots will continue growing in the region whilst the lack of a maximum quota persists.
Let the Gaming Law specialists at MONTEBLANCO & ASSOCIATES assist you in this endeavor.