Get 125% / $2,500 on 1st deposit!
New players only. Exclusive Welcome Bonus of up to $2,500
Puerto Rico’s Gaming Commission has granted two new online sports betting licenses. The licensees are Casino Metro, in partnership with Caesars Entertainment, and Stadium (Winnin), leveraging IGT’s betting platform. They join BetMGM, a sports betting and iGaming operator that launched its mobile app in early June, working in collaboration with Casino del Mar at La Concha Resort.
Jaime Rivera Emmanuelli, Executive Director of the Gaming Commission, expressed excitement for this development, saying, “With these three operations, we officially begin a new stage of sports betting in Puerto Rico.” He anticipates that this will stimulate the market’s growth, fostering tourist and economic activity, and generating solid revenue for the Government.
Emmanuelli clarified the licensing process for these companies. He said that they have met the criteria set out in the necessary internal controls as dictated by law and regulations. To gain authorization for online operation, a company must clear the commission’s two-stage approval process.
The first stage involves licensing the operator. In this phase, a casino or other venue must show compliance with tax obligations and present the corporation’s financial statements, among other requirements.
The second stage assesses the operator’s internal controls. The commission ensures they meet around 18 daily operating standards, including adequate procedures for accounting, tax payments, and anti-money laundering measures.
Emmanuelli further revealed that approximately 50 license applications are currently under review by the Gaming Commission, primarily for service provision to electronic platforms and operators.
The Executive Director also projected the Government’s revenue collection from sports betting to exceed $4 million in the next fiscal year. He added, “This new entertainment modality offers a wide range of plays in sports such as basketball, baseball, and NFL, which has the Superbowl event, and possibly special events such as Miss Universe, among others.”