The country of Peru will soon be home to online casinos and online sports betting, according to a new law enacted by its congress.
According to a report by Yogonet-, the new law introduces a 12% tax rate for industry. It is unclear which operators are viewing the market. American online betting giants such as MGM and Caesars might be interested.
The measure was reportedly widely supported and received near-unanimous approval.
Part of the new regulatory framework will include responsible gaming rules.
“Responsible and healthy gambling in a social market economy, mobilizing more than $1 billion, is an activity that needs to be taxed,” said Gonzalo Perez, Vice President of the Peruvian Online Sports Betting Federation. “No one can make a profit without being taxed. The profits then flow into health, education, tourism development and sport.”
Peru has a population of approximately 32.8 million people, slightly fewer than the state of California. The new law also allows land-based gambling establishments.
Other South American countries including Colombia and Brazil have recently taken steps to modernize their legal gambling. Some US operators have done business in the region.