Colombian Gambling tax efficiencies back Coljuegos market strategy

Publishing its 2019 statement, Colombia’s national gambling regulator Coljuegos has revealed that industry tax revenues totalled COL$ 680 million (€185,000), with funds set to be distributed to Colombia’s national health services.

The Colombian regulator’s 2019 figure represents a 16% increase on the COL$574 million (€151,000) of gambling tax revenues collected during 2018.

A breakdown of figures saw ‘local’ gambling halls and bingo establishments generate 57% (COL$ 382m) of 2019 industry income, as Coljuegos surpasses the COL$ 3 billion (€800,000) mark in funds generated for Colombian health services since its inception in 2012.

Meanwhile, online gambling – Colombia’s newest regulated market vertical – saw an 81% increase in tax revenues generating COL$ 70 million representing 10% of total tax income.

Detailing increased tax revenues recorded across all regulated gambling disciplines, Coljuegos details that its regulatory enforcement has been aided by the crackdown on illegal gambling premises carried-out by Colombia’s federal police during the course 2018 and 2019.

Updating stakeholders, Coljuegos President Juan Perez Hidalgo underlined that Colombian gambling’s improved tax efficiency supported the regulator’s governance of the marketplace.

Closing its 2019 legislative agenda, Coljuegos governance sanctioned a competitive tender to be launched for the right to operate the popular weekly TV draw-based lottery game ‘Super Astro’ for a period of five years.

Source:SBCnews