The Colombian government has gathered a substantial sum in gambling levies since 2015. Statistics released by the Colombian regulatory body, Coljuegos, indicate that the government has amassed over 2.8 trillion pesos in gambling taxes since 2015.
The home page of the website features a section on finance, with a headline that reads “Colombia has collected 2.8 trillion pesos in gambling taxes since 2015.”
The gambling industry contributed a significant amount to the national coffers in 2019, with a total of 668 billion pesos collected in taxes. This represents a substantial increase of 76% from the 380 billion pesos collected in 2015.
Despite the significant negative impact of the novel coronavirus (Covid-19) pandemic on the industry, particularly on the land-based sector, the nation had collected 254 billion pesos in taxes by September 2020.
In response to the pandemic, land-based gambling establishments were forced to close their doors in March. However, local governments have since been granted the authority to permit the reopening of such venues, subject to strict Covid safety protocols. Casinos in Bogota, Medellin, and Floridablanca have all been given the green light to resume operations.
In recent years, Colombia’s gambling industry has undergone a significant transformation, with the legalization and regulation of online gambling in 2017. Since then, Coljuegos has witnessed a dramatic increase in the number of regulated games, rising from a mere 35 to a staggering 1408.
Juan B. Perez Idalgo, president of Coljuegos, emphasized the economic significance of the gambling industry. He pointed out that the industry has created over 100,000 jobs.
The sector boasts more than 20,000 commercial ventures and pays rent, contributing over a trillion pesos in fees, of which over 668 billion pesos stem from sales tax.
He continued to elaborate on how the sector is propelling economic revival in three ways: reopening land-based gaming with enhanced safety measures; providing financial aid, tax reductions, and interest-free payment arrangements for operators; and expanding online gambling, including live casinos and remote player bingo.
According to Coljuegos, there are currently 347 active authorization agreements with the regulatory body, encompassing 2,737 establishments, 84,462 slot machines, 14,860 seats in 80 bingo halls, and 428 gaming tables.
Perez Hidalgo asserted that the sector has rebounded more quickly than many other segments of the economy since reopening. He also looked ahead to the remainder of the year, explaining, “In October, we know Super Astro will shatter sales records, while Baloto Revancha has created the highest jackpot in history, reaching 58 billion pesos.”
The regulatory body continues to strive to eliminate illicit operators from the sector, having reportedly issued blocking orders for 4,296 websites. Illegal operations have also been removed from the land-based sector.
Between 2016 and October 2020, officials carried out 1,141 searches, confiscating 12,382 objects associated with illicit gambling activities,” Pérez Hidalgo stated.
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