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NEWS 18 July 2017

PokerStars backs out of Colombian iGaming market

By Caroline Watson
PokerStars has exited the newly regulated Colombian iGaming market, due to a number of regulatory changes. Earlier last week, the country’s online gambling regulator, Coljuegos blocked a list of 325 unlicensed online gambling sites from operating on the market.

PokerStars informed its Colombian players that as from the 17 July, it will no longer be able to offer real-money poker games in that region.

The move to block the vast number of sites comes as Colombia becomes the first Latin American country to regulate its online gambling market.

Late last year, the country introduced the new regulatory framework, alerting the unlicensed websites back in March they would have to withdraw their operations. It was only in June that the authorities granted the first license for the provision of iGaming services.

Local operator Aquila Global Group and its sports betting platform became the first to receive the necessary approval.

Although PokerStars has bowed out of Colombia gracefully, it has said that it will look to obtain one of the new licenses and will hopefully return to the country in the not-so-distant future.
RELATED TAGS: Online | Industry | Legal & Regulatory | Poker
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