Veteran industry lawyer Witoldo Hendrich Junior, Chief Legal Officer (Brazil) and Partner at registered payment facilitator Online IPS has warned of the significant dangers of attempting to enter LatAm markets prematurely and without the necessary knowledge. Speaking ahead of the company’s appearance at ICE London (stand N10-585) the Online IPS partner, who has lectured in taxation as a University Professor in Rio for close to 20-years, stated: “Taking Brazil as an example, with a population of 220 million, the country is on course to become one of the most important sports betting markets in the world but one which requires specialist and expert support. Here in Brazil, we admit that Brazil is not friendly to ‘amateurs’. Taxation has historically been known for being very challenging and complex, and the recent political involvement from the Supreme Court into legislative and executive matters definitely compromised the confidence in legal certainty.
“We will be using our appearance at ICE London to explain our entry strategy for organizations wishing to operate in Brazil, as well as the special tax treatment enabling merchants to take funds out of the country in a legally compliant manner, using Central Bank regulations. Our goal is simple and that’s to allow Chief Compliance Officers to relax confidently and Chief Financial Officers to rest easy!”
Emphasizing the importance of taking a country-by-country approach to entering LatAm he stated: “Contrary to Europe, each country in LatAm works very differently, with varying legislation, processes, and standings on the igaming space. Entering multiple countries in LatAm involves starting from scratch in each one.
“Legislation regulating igaming is also very new in LatAm and there are various rules and specifications to abide by in each country that differ from the next. Not reviewing them thoroughly or understanding clearly can lead to obstacles, hindering the ability for potential merchants to do business in the region. These are important realities European companies must account for when considering entering LatAm.”
Hendrich, who has two decades of legal experience in Brazil with expertise in gambling regulation after spending eight-years in the industry, added: “Online IPS is a registered payment facilitator in the LatAm region with local offices in the countries we operate, with teams in each specializing in the operations and regulations of each country. We have offices in Brazil, Colombia, Peru and Mexico with Chile on the horizon for the end of 2022. The partners and management staff of Online IPS are seasoned professionals with decades of combined experience in the international payment industry. The best insight we can give into the LatAm market is that having a local strategy/approach is the best way to succeed in the region. This is exactly what we can offer our merchants, to aid in their success in the region and ease entry to market barriers.”
Welcoming the return of ICE London he said: “The industry has certainly missed the show. ICE is a critical component of the industry and with the sector going through so many changes and growth in the last couple of years, the industry is definitely ready to come together during ICE and immerse itself in all the new opportunities the space has to offer.
“In-person interactions create a sense of community, connection, and empathy that digital communications technology cannot match. As a merchant service provider, we not only place great value in the customer service we provide but the close relationships we build with partners and merchants. It’s the intangibles that count, such as a new connection formed over a drink or a degree of trust established from a friendly conversation and a handshake. These are what help us as a company, to build the trust needed to develop the tailored-made solutions merchants require to succeed. Ultimately attending ICE helps us keep our finger on the pulse of what is going on in the sector and allows us to do a more thorough analysis through conversations, discussions and the overall show environment. It’svitally important.”
New PAGCOR board sworn into office
PRESIDENT Ferdinand Marcos, Jr. sworn into office the new members of the Board of Directors of the Philippine Amusement and Gaming Corporation (PAGCOR) in simple oathtaking ceremonies held recently.
The state-run gaming firm will have as its new Chairman and Chief Executive Officer Alejandro H. Tengco, while appointed as President and Chief Operating Officer is Atty. Juanito L. Sañosa, Jr.
Comprising the new members of the Board of Directors are Gilbert Cesar C. Remulla, Engr. Francis Democrito C. Concordia and Jose Maria C. Ortega.
Vivo Gaming upgrades live casino offering in Uruguay and Bulgaria
Leading live casino provider Vivo Gaming has significantly upgraded its Bacarrat offering in Uruguay with the addition of Chroma Key and has launched a new Teen Patti table from it’s Bulgaria studio.
Vivo Gaming’s Chroma Key technology replaces a solid colour background with a whole new visual of the operator’s choice. Dealers working on these new live Baccarat tables can now be placed in front of any location, animation, brand, logo or graphic imaginable using this sleek new tool.
In addition to this, the company has now made English-speaking dealers available to its Latin American operators through its Uruguay-based tables, which were previously only available in Spanish and Portuguese, making their games significantly more accessible.
Meanwhile, the provider has enhanced its Bulgarian tables with the addition of Teen Patti, which will also benefit from English-speaking dealers. A highly popular card game in the Asian market, Teen Patti sees players try to create the highest-ranking combination among all the players with only three cards dealt. The goal is also to maximise the pot or the prize pool to make the greatest winnings.
Ivan Livov, COO at Vivo Gaming said: “We’re simply the top pick for live dealer operators in every market, from South America to the Caribbean and across Europe.
“Now with these advanced offerings, we can offer our customers all over the world an even greater breadth of products and services as we continue to differentiate ourselves from the competition.”
These developments follow Vivo Gaming’s winning of Best Live Casino Supplier at the prestigious EGR Awards in London, beating stiff competition.
Pragmatic Play Goes Live with Pálpitos in Tucumán, Argentina
Pragmatic Play has gone live with Argentinian operator Pálpitos in the province of Tucumán, to provide its award-winning slots portfolio.
As part of the deal, Pálpitos’ customers will now gain access to Pragmatic Play’s extensive slot portfolio, including recent releases such as Wild Beach Party, Queenie and Rainbow Gold, and ever-popular games like Big Bass Bonanza.
Pálpitos becomes the latest partner to join Pragmatic Play in the Latin America region, as it continues to expand in the market. The provider advances in its goal of becoming #1 in the region.
Víctor Arias, VP of Latin American Operations at Pragmatic Play, said: “We are excited to partner with Pálpitos and provide them our diverse and innovative Slot vertical.
“This will give their substantial player base in Tucuman, Argentina access to our award-winning titles and a vast array of iGaming content as we look to further grow our footprint in Latin America.”
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