Latin America could be the next biggest market after the UK and Europe to open its doors for regulated gambling. Mexico is the first country to pave the way for offline and online operator in the country.
The Mexican Government has approved a legislation involving gambling on December 2014. National Action Party (NAP) and Party of the Democratic Revolution (PRD), the country’s two biggest parties have joined hands to make this bill a reality.
The bill will allow gambling operators to seek licenses from the government. However, this bill also makes sure that Mexican public operators refrain from any international compacts. Experts suggest this is a good start.
The Deputy of the National Action Party, Jose Arturo sounded extremely positive about the introduction of the gambling bill, which gives the system a very good transparency that the country lacked.
The Deputy in a recent press release commented that this new law will make Mexican citizens aware about the functional casinos in Mexico, what is the kind of permit each of these casinos have, how many casinos are operational and who are the owners and partners.
Over the years, Mexico has been reluctant in allowing online and offline gambling. Notably, the country spends tons of money in curtailing corruption involving drugs and other prohibited narcotics. The corruption has led to illegal betting establishments in the country.
The new bill saw some positive moves such as strict steps against money laundering and setting the minimum age limit to 21 for gambling. It is hoped that the new law will bring some positive changes for the country.
The recent announcement also stated that offshore operators are interested in entering the Mexican market. In a move, which surprised many operators saw Ladbrokes, one of the leading UK based operators entering the Mexican market through its digital channel with Sportium.
This is a joint venture operation with Cirsa, a slot machine company. Sportium is a leading casino in Spain, which entered the Mexican market with the help of Cirsa. Remarkably, Cirsa has the biggest market share in Mexico as far as regulated gambling is concerned.
Damian Cope, Managing Director, Ladbrokes commented that Sportium is growing at a fast pace through the digital and retail channel in Spain and that it will continue to grow in the years to come.
Cirsa’s extensive presence in Mexico will now give the company an opportunity to grow in the Mexican market too.