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Tuesday, May 15, 2012

New Gaming Authority in Colombia

By Carlos A. Fonseca Sarmiento (Varela & Fonseca Abogados)

In Colombia, gaming is a monopoly of the State, and private companies can operate slot parlors by means of concession agreements subscribed with the company that, in representation of the State, is authorized to control the operation of the slot machines.

By Decree 4144 of November 3, 2011, the President of the Nation created a new entity in charge of controlling the casinos and slot parlors in Colombia: COLJUEGOS. This entity replaces ETESA, which was liquidated because of its mismanagement. COLJUEGOS is a public company that assumes the exploitation, administration, and expedition of gaming rules such as slot machines, casino games, and bingos. It is related to the Ministry of Finance and Public Credit.

COLJUEGOS is directed by a Directive Board and a President, who is named directly by the President of the Nation. The Directive Board of COLJUEGOS is integrated by five members: Two representatives of the Ministry of Finance and Public Credit, the Ministry of Health and Social Protection or its representative, and two independent members designated by the Ministry of Finance and Public Credit. On March 6, 2012, the new president of COLJUEGOS, economist Rodrigo Velez Jara, assumed its charge. More than 100,000 slot machines are operated in Colombia.