Puerto Rico authorizes seven new sports betting licenses

The Commission accepted the recommendation of the Sports Betting Bureau to grant licenses to three companies that will act as operators and another four that are service providers that assist in the betting process. Five of them are temporary, necessary licenses.

The authorization for these companies was granted after an evaluation of the profile, track record, compliance with tax responsibilities and financial statements, as well as the technical and financial aspects of the companies and their shareholders and principal officers.

"In this way, the Commission ensures that it complies with the requirements of the law", informed the director of the Betting Bureau, Eric de la Cruz. Rivera Emmanuelli specified that the new licenses correspond to three operators, three service suppliers and a technology provider, which facilitates the use of betting machines. The bets are mostly around sporting events in and outside of Puerto Rico, but can also include special sanctioned events, he said.

Temporary type licenses are for Ballers Puerto Rico Sportsbook LLC; Liberman Media Group Gaming LLC (LMG); and CCHPR Hospitality, LLC (Casino Metro) in the category of sports betting operators.

As service providers, Swish Analytics Puerto Rico Inc.; and US Integrity In; permanently and Continent 8 Technologies PR LLC temporarily. As a technology platform provider, Caesars Digital PR, Inc.

“The sports betting industry is growing under the regulations and supervision of the Puerto Rico Gaming Commission. Electronic betting has the potential to be an important source of jobs and the creation of commercial spaces for entertainment. In the same way, it will generate new income for the treasury”, said Rivera Emmanuelli.

The Secretary of Economic Development and Commerce, who also chairs the Commission, Manuel Cidre Miranda, welcomed this new opportunity and stated that it will represent an important injection into the economy of Puerto Rico.

It was recalled that at present, sports bets are only made in person, but Rivera Emmanuelli explained that the Commission is in the process of reviewing the internal controls of the operators interested in providing online bets, which can be made from anywhere. and by phone, under strict protocols.

To complete the process of issuing the seven new recommended licenses, companies must make payments to the Government, based on the functions they will perform in the sports betting industry.

The operator, who provides the space to place the gambling machines where the players will be, must pay $50,000. This operator may or may not be a gaming casino, and is responsible for adopting internal controls in the establishment, which cover aspects of security and use of technology, as well as the management of human resources that will interact with the public. and assist in making the bet, he said.

The carrier service provider must pay $5,000 for the license. This is in charge of providing the different services necessary for the operation and functioning of the gaming infrastructure and the server programs. Meanwhile, the betting technology platform provider must pay $15,000. This supplies the online or face-to-face betting platform to be used.