Industry Reports

Colombia Regulator Issues License to Vicca Group and GAMING1 to Run Online Casino

Online casino and sports betting provider GAMING1 and local operator Vicca Group have joined forces to receive a casino and sportsbook license from Colombian regulator Coljuegos. This is the first license of its kind as it allows the provision of sports betting and casino games at the same time. The two companies have launched as part of their mutual collaboration, which is to serve the needs of Colombia’s players.

This week, the country’s gambling watchdog has issued its first combined license, since Colombia has blocked unlicensed gambling operators. The license was awarded to the international firm Gaming 1 and its local partner and land-based casino operator Vicca Group. The 2 companies have entered a partnership deal, under which both of them have equal rights and shares.

GAMING1 and Vicca Group have already launched their online platform, which is to offer a bountiful selection of games, including roulette, blackjack and slots. The online gambling platform is said to run smoothly on all type of Internet-supplied devices, including mobile phone and tablets. The website’s products are expected to be enriched with other providers’ titles in the coming weeks, but is currently offering the full gaming content of GAMING1.

In 2016, Colombia announced its decision to regulate and tax its online gambling market. By doing so, Colombia has become the first Latin American country to legalize online gambling activities and boost its economy, and more precisely its national healthcare sector. Regulating its market also means that the country protects its players from any shady gambling practices and deceitful operators. It is yet to become clear if more Latin American countries will follow Colombia’s blueprints and regulate their online gambling market, but the experts’ forecast is optimistic.

GAMING1’s Other Joint Ventures

GAMING1 is owned by the Belgian casino operator Ardent Group. It is interesting to note that this is not the first joint venture of this kind for GAMING1. Last year, the online betting provider sealed a deal with Portugal’s land-based casino operator Estoril Sol Digital Online Gaming and Products Services, which has become Portugal’s first gambling company to have been granted an online casino license. Apart from that, GAMING1 has formed a joint venture with Spanish land-based operator Grupo Orenes. GAMING1’s latest partnership agreement is with the Swiss Gran Casino Baden, placing hopes that the country will soon legalize the real-money online gambling. A brief flashback recalls that on 2nd October this year, Switzerland’s legislature gave a green light to the proposed amendments to the country’s gambling rules. Under the new rules, local land-based casino operators will be allowed to launch online casinos. This strategy proved to be successfull, as GAMING1 managed to crack into many casino markets around the globe.