Colombia grants seventh online gambling license

[The Buzz]

Local casino operator Inverstark SAS has been granted an online gambling license by the Colombian government, making it the country’s seventh online gambling site. You may remember, back in July the government issued its very first license.

Coljuegos, Colombia’s Gaming Regulator, is targeting around 20 licensees by the time the 2018 FIFA World Cup begins this summer in Russia.

Inverstark, which currently runs a range of gaming venues and also develops technology for land-based gaming, has started offering online gambling using the Masgol.co domain. As of now, the site only offers bingo products and sports betting (legally limited).

The license is valid for a period of 5 years and it cost the company about COP3.2 billion to acquire (around US$1.2 million) it.

Coljuegos had managed to generate around COP41.8 billion as revenue in the last month of 2017, out of which, COP1.6 billion was sourced exclusively from its licensees.

Juan B. Perez Hidalgo, the President of Coljuegos stated that the gaming regulator is currently looking at 2 more applicants that are looking to begin online gambling operations. However, he did not mention when these two applicants would be identified.

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