It was no more than a few years ago that 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, Peruvian law 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 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. 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 will be expedient and effective. The financial prosperity that Peru has maintained for years in a row has set the foreground for the more than 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 fall a specific set of rules, while other slots present in four and five-star hotels and restaurants, fall under another? Moreover, the law requires that casino slot machines 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. Lastly, casinos must obtain four separate licenses, for which regional governments get to have a say in part of the approval process as well. This is part of the reason for which sports betting has gained additional notoriety in Peru, because all in all, there are no laws against gambling online for any type of betting. What’s more is that players are also allowed to play at foreign sites as well, so they aren’t bound to government-operated or government-licensed games.
Let the Gaming Law specialists at MONTEBLANCO & ASSOCIATES assist you in this endeavor.