Peru’s Gaming Regulatory body, the DGJCMT, has presented a project to regulate the registration of slot machines and the acquisition of legal gaming businesses, with the aim of introducing better controls for gaming operations. The South American country passed a law on 24 December 2006 that made a big legislative change in the organisation and formalisation of the gaming industry.

Apart from changes to the requirements for slot machine operation in Peru, there is the exclusion of firms not authorised to acquire gaming businesses – a new rule on the right track. According to DGJCMT sources, the majority of the 770 firms that applied to enter the formalisation process last year as yet have not been granted definitive authority and to get it must comply with the new law.

The draft bill states that the transfer of a gaming business to a company that has not been given authorisation to operate at the time of the transfer will not be permitted. Also the business can only be acquired by one company. In this case gaming companies are free to sell stock to investors and only report the stock transfer to the DGJCMT under the gaming law.

The most important point of the draft bill is that gaming operations being transferred must have paid all the taxes and fines owed up to the month before the presentation of the transfer documents, or to have passed the debt to the new owner and registered this with the Department of Taxes (SUNAT). As things stand under the present law, many companies with unpaid tax problems transfer their gaming licences and dissolve their company, leaving both themselves and the new operator with no tax liability.
(E-04.22.08)

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