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Paraguay Gaming Revenues Going Up in the First Two Months of 2018
- April 19, 2018 By Riley Wilson -
The gaming industry revenues continue to rise in Paraguay. According to the data for the first two months of 2018, released by the National Gaming Commission (CONAJZAR), 5% more money to the National Treasury than in the corresponding period of last year.
The Ministry of Finance has revealed the total income of $3.8 million has been recorded in the first two months of 2018, which is $200,000 more when compared to the results from 2017.
The Good News is the Numbers are Up
The gaming revenue was distributed to the Department of Social Welfare and Assistance (30%), to the departmental governments (30%), the municipal governments (30%) and the remaining 10% went to the National Treasure.
The National Treasury will receive $380,000 from CONAJZAR for the first two months of 2018, which is an increase of $20,000 when compared to 2017.
The data for fiscal 2017 showed that CONAJZAR recorded a 3.5% rise in revenue, which means the total revenue for that period amounted to $2.18 million.
Even though there was a significant rise in revenue at the beginning of 2018, the situation for the Board was difficult.
Problems For the Board
Namely, the Comptroller General of the Republic of Paraguay (CGR) recommended that the bidding process for sports betting should be annulled.
The CGR disapproved of the gaming board’s decision to state its opinion on the matter before suspending the process.
Apparently, the CGR though the tender was monopolistic and unfit for the current gaming law.
They wanted the process to be stopped, but their opinion was ignored by CONAJZAR and the envelopes of the tender were opened in November.
According to the data revealed by the CGR, many inconsistencies were found regarding the licensing process, so they suggested the license given to Daruma Sam (Apostala) should be revoked as well.
Due to this controversial event, the head of CONAJZAR, Javier Balbuena decided to leave office in March, while Oscar Ramón Portillo Martínez stepped in as his successor.