Things can move fast in Latin America when the circumstances are right
The announcement by the Argentinian Presidential Cabinet Chief Anibal Fernandez recently that Argentina was about to switch to a more sensible regulatory strategy for online gambling (see previous InfoPowa report) has been followed by further information that the legislation has been approved.
Generating urgency in the surprisingly fast process is the fact that the government has taken over the broadcast rights for the Asociacion del Futbol Argentino - the country’s football governing body - for around $154 million in a bid to save many of the clubs facing bankruptcy and financial ruin.
Argentinians are passionate about football, making it a key political consideration in what are troubled times for many of the clubs, and legalising online gambling will hopefully revitalise the game and replenish government coffers depleted by the football bailout.
The Pokerstars marketers have apparently already commenced positioning tactics in the country and are well set to benefit from the new regulatory regime now taking shape, with a sponsorship deal with River Plate FC (see previous InfoPowa report).
This week Fernandez updated reporters, telling them: “We’re working so that this will become law within two or three months.”
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