Paraguay Proposes New Gambling Law to Boost Competition
This week, Paraguay’s government introduced a bill aimed at overhauling the nation’s gambling industry.
Flag of Paraguay. Paraguay seeks to boost competition with new gambling laws.
LISTEN TO THIS ARTICLE:The proposed legislation seeks to dismantle monopolies and strengthen regulatory frameworks, which would be a major a shift in how gambling is managed in Paraguay. The bill intends to revise and expand upon Law No. 1016/1997, which currently governs gambling operations across the country.
Proposed Reforms to Encourage Competition
The reform’s primary objective is to modernize the legal structure to foster competition and improve management within the gambling sector. The proposed changes target critical sections of Law No. 1016/1997, addressing gambling regulations, financial supervision, and the structure of existing monopolies.
A key element of the proposal is to dismantle the existing monopoly that dominates Paraguay’s gambling market. At present, only a single entity is licensed to conduct gambling operations such as lotteries and sports betting through public bids, which limits private sector involvement. The proposed bill advocates for opening the market to private businesses, encouraging competition and reducing the grip of monopolistic practices.
In addition to this market transformation, the bill seeks to expand the role of Conajzar, the agency responsible for gambling oversight. The proposal includes placing Conajzar under the National Tax Revenue Directorate (Dirección Nacional de Ingresos Tributarios), a move designed to boost efficiency in revenue collection and regulatory enforcement. This adjustment is expected to streamline operations and enhance financial oversight, providing Conajzar with more authority to oversee gambling activities throughout Paraguay.
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Aligning Gambling Laws with Economic and Social Developments
The proposed reforms reflect a broader initiative within Paraguay to modernize various government functions. Since President Santiago Peña’s inauguration in 2023, his administration has aimed to implement essential changes to improve governance and public service delivery. The new gambling legislation is seen as part of these efforts, aiming to bring Paraguay’s legal and governmental framework in step with current economic and social conditions.
The bill acknowledges significant social and economic changes in Paraguay, including the emergence of new gambling formats and a surge in market activity. With advancements in technology spurring the industry, updated regulations are necessary to keep pace with these shifts.
If passed, this legislation would fundamentally reshape Paraguay’s approach to gambling regulation. The bill is currently under congressional review and, if approved, could reshape the future of gambling in Paraguay.
RELATED TOPICS: Regulation
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