LatAm’s online casino promises a new experience in online casino gambling. With the acquisition of its parent company by Betfair, the combined entity would become one of the leading online casino gambling companies in Latin America. The acquisition is expected to increase competition in the Latin American online casino gambling industry. Juega Enterprises, which is currently the largest online casino gambling company in Latin America, already has agreements with two prominent online casino gambling operators – Radisson Blu and Playtech – for direct online gambling services in Canada and with the United States, respectively. The combination of these two leading players in the online casino gambling sector in Latin America promises to heighten competition and boost the profitability of online casinos in Latin America.
Earlier, iGaming, which is also one of the leading online casino games providers in late, had signed agreements with Radisson Blu and Playtech. Under the deals, announced on August 15, Juega En Ley Land (La Rique Lote) would take over its North American operations from Radisson Blu and Playtech. According to people familiar with the matter, Playtech agreed to allow Juega En Ley Land to operate the online slots part of its business in Latin America because it did not want to be left out of the online casino slot industry that is dominated by Radisson Blu and Intercasino, the other leading online casino game provider in Latin America. In response to the acquisition, Juega En Ley Land’s chief financial officer Arthur Mathews said, “We believe the combination of the two companies will strengthen our position as the top destination for gamers to enjoy their games.”
Juega En Ley Land was earlier acquisition done by Betfair Financial Corporation, which is one of the largest financial services companies in UK and also one of the biggest shareholders in Radisson Blu. At the time of acquisition, the company had signed agreements with Playtech which includes operating the online casino slot part of its business in Latin America. Since the acquisition, Playtech became a wholly owned subsidiary of Juega En Ley Land, a direct result of the acquisition. In fact, since the acquisition, Playtech has been working very hard on improving its systems and making its games more attractive and user-friendly. They have also signed agreements with Radisson Blu and Intercasino, another leading online casino game provider in Latin America.
Juega En Ley Land’s chief executive officer, Carlos Cardin, is well known as a lover of free slots and a very aggressive businessman. He is well aware that the free spin and other free casino games will help his company to increase its revenues and at the same time, help the gamers to increase their profit margin. He is also planning to introduce new casino games, which will attract even more people to try his slots business. The management has already reduced the deposit casino bonuses offered by Radisson Blu to only 50% of its previous levels. This reduction will help the company to focus on improving its customer services and developing new online casino software in order to cope with the changing gaming trends.
Another reason why Playmex has decided to limit the number of its casinos is the pressure from the federal government. The Playmex board is under the supervision of the Department of Justice. In 2021, the department sent Playmex a cease and desist order which prohibits the company from operating any new casinos in the country. The department is concerned about the possibility of Playmex and other Playmex affiliates facilitating gambling for profit. It is also worried about the increasing prevalence of internet casinos in Latin America and the associated crime such as laundering and money laundering.
In recent years, Playmex received many requests from clients who wanted to play at the Playmex casinos located in Latin America. According to them, Playmex was forced to reduce its operating slots to only thirty-eight in order to satisfy requests from customers. Many Playmex clients complained that they were given incentives later when they played at the Playmex casinos located in Mexico and Argentina. An argument over whether Playmex was being selective in its marketing techniques or not had been going on for some time with no apparent resolution in sight.