The Paraguay Chamber of Deputies has approved a bill. The bill will end the gambling monopoly system. It will also liberalize the market in the country.
Last December 17, a second extraordinary session of the Chamber of Deputies in Paraguay approved a number of final amendments to the existing gambling legislation of the nation or Law No 1,016/1997.
With legislation recently stating the exploitation of national games of chance will be carried out exclusively by public tender, the end of gambling monopoly of Paraguay will be included in the approved bill.
The amendments aim to enhance the powers of the National Commission of Gambling (Conajzar). They will place it under the DNIT, the National Tax Revenue Directorate of the government.
A press release from the Chamber of Deputies stated that the legislation focuses on modernizing and tightening the regulation of the sector. Its aim is to increase tax revenues generated by gambling.
Now, the bill will go to the executive branch of the Paraguay government for final approval.
The approved amendments will allow private operators to enter the industry in Paraguay. This eliminates the need for them to gain access through the recent government tender process.
The president of Conajzar, Carlos Liseras, said before that he expects the liberalization of the gambling market to increase the tax contributions of the sector.
Liseras, in quotes shared by G&M News, said that it is a fundamental step to democratize the market. He added that it will allow greater competitiveness, benefiting both operators and the state.
Under DNIT, the placing of Conajzar will allow for institutional optimization by enhancing its ability to collect revenue.
Under the new regulations, the Conajzar general director will oversee gambling activities in Paraguay. This will include coordinating, developing, controlling, and supervising the market.
