Puerto Rico launches public consultation on sports betting regulations

by Administrator

The Government of Puerto Rico has confirmed the opening of a period of public comment  to regulate online gambling this week. The “Puerto Rico Sports Betting, Betting on E-Sports and Fantasy Contest Regulations” document can be reviewed on the Gaming Commission’s website.

Manuel Laboy Rivera, secretary of the Department of Economic Development and Commerce (DDEC) and president of the Commission’s Board, said that the regulations will establish “the norms that will govern this innovative industry so it can reach its maximum potential, along with the talent and resources that we have on this island.”

The Commission will receive comments until September 10, while on August 19 it will hold a virtual public hearing to comply with the requirements of Law 81-2019.

The president assured that this gambling modality is gaining relevance “during these times that we’re facing due to the spread of COVID-19.” And added: “So there is a great opportunity to position ourselves in this industry, which can contribute around $68m by 2022.”

In February, Governor Wanda Vázquez revealed her intention to regulate the online industry by August, with the aim of “creating jobs and wealth” for the territory.

In addition, as reported by Noticel, the executive director of the Financial Advisory Authority and Fiscal Agency (AAFAF) Omar Marrero Díaz said that the Government is committed to evaluating the comments and integrating “citizen participation in these activities within a legal framework.”

Back in May, the Commission selected Gaming Laboratories International (GLI) to advise on the regulations and operations on the island. Karen Sierra-Hughes, Director of Government Relations at GLI, told SBC Americas that “Puerto Rico has been a pioneer and role model on land-based gaming regulation,” and that they “envision the same for this new industry opening soon.”

https://www.yogonet.com/international/noticias/2020/08/12/54275-puerto-rico-launches-public-consultation-on-sports-betting-regulations