The Puerto Rico Gaming Commission (PRGC) recently announced that seven platforms would get sports betting licences and enter the island’s iGaming market. We are talking about one tech provider, three sports betting operators and three service providers that are here to support the wagering requirement systems on the platforms.
PRGC licensing details
Regarding these already-mentioned licenses, the Sports Betting Bureau of Puerto Rico divided them into two types, temporary and permanent, together with specified gambling regulations. Five temporary licences are given to the sports betting operators: Liberman Media Group Gaming, CCHPR Hospitality and Ballers Puerto Rico Sportsbook. Service providers that also got this temporary licence are US Integrity and Swish Analytics Puerto Rico. As a technology provider, Caesars Digital PR got the last temporary permit.
Upon profile evaluation of each company, confirmation of compliance with tax responsibilities, and examination of the financial statements, PRGC granted licences to each company, respectively. They were processed not only for their technical and financial abilities but also for their shareholders and managers. The director of the Gaming Bureau, Eric de la Cruz, notes that the PRGC took all these measures to ensure that the applicants complied with all legal requirements for entering the sports betting market in Puerto Rico.
Great opportunity for economic growth in Puerto Rico
The sports betting sector is growing under the law and the supervision of the Puerto Rico Gaming Commission. According to PRGC director Rivera Emmanuelli, online betting could be a significant source of jobs and generate new revenue for Puerto Rico’s government.
Manuel Cidre Miranda, a chairman of PGRC and secretary of Economic Development and Commerce, is satisfied with this new authorization and the opportunity for economic growth in Puerto Rico. The legalization of sports betting in Puerto Rico took effect in July 2019, and there has yet to be an offer of any legal sports wagering.
Puerto Rico is home to more than 20 casinos where players can place their bets, but none offer mobile betting. On this Caribbean Island, suppliers and sports operators are still awaiting the launch of online sports betting, which will be announced in the near future.