Revista Casino edición Londres 2017 by Revista Casino

FEBRUARY 2017

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Cover SPECIAL EDITION

A NEW START “Looking to the Latin American market” is the headline of the Peruvian Revista CASINO, Turismo & Entretenimiento, which is making incursions in London, exclusively for the trade show. Production

MCA Publicaciones S.A.C. Calle Luis Mannarelli 181 Of. A 2do Piso Magdalena del Mar - Perú Teléf. (511) 264 4314 E-mail: info@revistacasinoperu.com Manager Director

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administración@mcapublicaciones.com.pe Marco Cabrera Editorial Committee

Mayra Vargas Rodriguez Gustavo Pichilingue Pedro Criollo Correction

This new edition´s goal is to show Europe in which situation is the gaming industry in Latin America. All the information that we offer is concise but important, and it includes different matters such as economy, gaming and the tourism of some of the countries of the region. Argentina, Brazil, Chile, Colombia, Panama, Peru and Uruguay are part of this special edition about gaming. The publication is the result of a long work that, more than a job, is a commitment with the industry, which gave us a great opportunity. A sector that has trusted in us, a media that was born sixteen years ago. Throughout the years, we have seen the growth of a great number of gaming markets. Among them is the Peruvian one, a country where the activity is totally regulated and which nowadays gathers a completely connected slot machines park. From CASINO we, as a media, assume one more time the commitment of spreading the potential of the Latin American gaming market to the entire world.

Javier Ágreda Designers

Mayra Martinez Loza Korita Upiachihua Silvano Collaborators

Eder Guardamino

Kind regards,

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summary 06 14 24 32 42 50 58

February 4

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Argentina Reforms in motion

Brazil The efforts of temer´s management

Chile Southern fortaleza austral

Colombia A new beginning

Panama With a good star

Peru Good numbers

Uruguay Consolidating the market

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FEBRUARY 2017

SPECIAL EMPRESA ARGENTINA

REFORMS IN MOTION

Argentina will test a series of measures and changes to dodge the recession and to reactivate its industries during this new year.

rgentina is going through a period of profound changes. Mauricio Macri´s assumption of power, after tough elections, awakened the expectation of a nation that has been attacked by the left standpoints, as regards economic, social and political matters, by the governments of Néstor Kirchner (2003-2007) and his wife Cristina (2007-2015). To reorganize the administration after twelve years of Kirchnerism —a period that was marked by an economic protectionism and a diplomatic alignment with countries like Brazil and Venezuela— is a severe challenge. The

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reforms that are still in their process have generated a certain unpopularity in the new administration. The efforts to standardize the exchange rate, normalize the relationships with foreign creditors and improve the transparency and governance seem to be inadequate. Maybe that is the reason why the 43% of the Argentinians disapprove Macri and only a 26% seem to support him. The work has recently started.

THE EXTERNAL SITUATION Outside of the political context, the Argentinean numbers lost strength because of the low external demand,

Brazil´s recession and the low prices of the basic agricultural products. More than a report says that the most serious consequence was the loss of 200,000 of jobs and an economy that is going through a recession period. For this reason, it is not a surprise that the 2016 left a contraction of a 2.3%. According to the economists, the number will continue with a tendency of a -2%, which was expected some months ago. Despite the fall, not all the sectors have been affected. The farming sector, for example, has grown thanks to the elimination of taxes and restrictions on the corn and

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wheat exportations. After a season of record harvests, this activity reached a dynamism that exceeded in a 25% the usual average during the first nine months of 2016.

MODERN AIRPORTS The infrastructure projects —which was the standard of the current president´s campaign— developed prominence. Few weeks ago, Macri was present in the inaugural flight of the remodeled airport El Plumerillo in the Province of Mendoza that, according with what is planned, will assist 1.6 million people for national and international connections. The work —which included a new asphalt in the area of maneuvers and installation of radio beacons— lasted three months and costed US&74.5 million. According to the National Civil Aviation Administration (ANAC), El Plumerillo has been turned into the second most modern airfield of Argentina as regards technology, after the Airport of Ezeiza in Buenos Aires. In this airport, a complementary airstrip of 3,000 meters is being built. The remodeling plan includes another ten air terminals and a total expenditure of US$496 million until 2019. Finishing them will increase connectivity, which will benefit tourism and will also raise the public spending.

Salta, Jujuy, Chaco, Tucumán, Santiago del Estero and Santa Fe, and the incorporation of 1,000 new carriages and thirty locomotives. Besides, there are projects for drinking water in Jujuy, Chaco, Salta, Formosa, Misiones and Catamarca, between 2017 and 2019.

The Argentinean government plans to remodel around ten airports with an expenditure of US$496 million. GREAT STRENGTHS The impact of these investments and the political and economic reforms will be seen this 2017. The Minister of Finance and Treasury, Alfonso Prat-Gay, expects to forget the recession of the 2016 with a raise of 3.5% in the Gross Domestic Product and a controlled inflation under the annual 17%. For the Organization for Economic Co-operation and Development (OECD), Argentina will have a great opportunity to

reduce the unemployment rate, which is more than a 9%. Even though this organization predicted a negative close for the 2016, it has been more optimistic for the following years. In its biannual report, the entity plans a 2.9% growth in 2017 and a 3.4% in 2018. The predictions for this year of the International Monetary Fund and the Economic Commission for Latin America and the Caribbean plan advances of a 2.7% and 2.5%, respectively.

A NEW OUTLOOK The same optimism is shared by the financial company JP Morgan Chase & Co, which established the growth of the southern country in 3.2% —after its calculation in November (3.4%) —, though a greater expansion cannot be dismissed. For its part, Goldman Sachs & Co, a multinational that offers financial services, placed in 2.7% the expectation of an economic progress. With the formula set in motion, Argentina waits for positive numbers. The pro-market reforms, the evolution of the average familiar incomes, the investments volume and the recovery of Brazil will return the trust and the splendor of the third biggest economy of Latin America.

AN INVESTMENTS RAIN The Government is now driving the Federal Road Plan 2016-2019 with an ambitious goal: building 2,800 km of highways, 4,000 km of “secure routes” and 13,000 km more of asphalt. Until the end of 2016, 1,000 km were built. And, with the Belgrano Plan, more works will be carried out. Through the private company, US$2,400 million will be set aside for sea and river ports: through these ways, the 90% of the Argentinean exportations is moved. Specially, those products that come from the provinces of Santa Fe, Chubut and Tierra del Fuego. In Corrientes, the new port in Itá Ibaté will move 450,000 annual tons. The program includes the renovation of 1,600 km in the railways among

According to the Cereal Stock Market of Rosario, Argentina will produce US$13 million of tons of wheat in 2017.

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SPECIAL EMPRESA ARGENTINA cial player. For this reason, among the lottery games we can stand out the pool, with four daily raffles from Monday to Saturday. The youngest population and old people attend the gaming halls, with the purpose of having fun.

Mario Trucco,

Executive Director at the Association of State Lotteries in Argentina

Lotteries:

A MARKET UNDER

DEVELOPMENT

The association that groups the 24 regulators of the country is preparing a proposal to fight against the illegal market.

ince some years ago, the World Lottery Association (WLA) —which congregates the lotteries from more than eighty countries in six continents— has laid its eyes on the gaming´s development in the region; specially, in Argentina. For this reason, at the beginning of November in 2016, the authorities of the WLA chose Buenos Aires as the headquarter of its next summit, in 2018. For the local gaming, the event will represent a great opportunity, because it will gather the main operators, manufacturers and governmental entities that are related to the rubric. At the end of November, Revista CASINO talked with Mario Trucco, Executive

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Director at the Association of State Lotteries in Argentina (ALEA), an entity that groups the regulatory bodies of the City of Buenos Aires and the 23 autonomous provinces of the country, who offered us a general outlook about the Argentinean lotteries´ market. In the gaming sector, which percentage do lotteries represent? It is difficult to establish a percentage, because this is about 24 lotteries. But, according to the information of the statistical area of ALEA we could talk about a 40% of lottery games and a 60% of casino games. We understand that these numbers exist because the Argentinian is a so-

How much did these rubrics generate as regards incomes and taxes during the last two years? It is difficult to establish exact numbers. According to the statistical area of ALEA, the contributions that the activity makes in a direct way to the different ministries of social action —the national and the provincial ones— were around the 11,000 million of Argentinean Pesos (almost US$707.63 million) in 2015. As regards municipal, provincial and national taxes, it was approximately the same number. According to the provided information, in 2016 some of the lotteries of the country kept the same incomes of last year and others saw an increase between a 15% and a 20%. Which are the measures against the illegal gaming that have been nationally? In Argentina, every provincial jurisdiction kept for itself the “police power” in matters of gaming, making the possibility of a national legislation be something very difficult. For this reason, during the 61st Extraordinary Session of ALEA, which was held in the Province of Río Negro in November, it was made the Declaration of San Carlos de Bariloche, in which the members committed themselves to make a draft bill for the criminal classification of the illegal betting and the clandestine gaming. Besides the declaration, which other agreements were made? It was taken the decision that every regulatory body will make progresses for the online gaming regulation. We can stand out the managements of different national organizations —the House of Representatives, the National Communications Entity and the Central Bank— as regards the arrival and online advertising of games that come from a suspicious origin and do not count with the corresponding authorizations of any official lottery organization.

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NEW AIRS

The gaming industry in Argentina looks for its development in the middle of tax reforms and new transparency mechanisms. Foto : © Legislatura Ciudad Autónoma de Buenos Aires

he airs of change blow with strength in Argentina. In a year that could be defined as “busy”, the Argentinean gaming sector avoided a season of delicate decisions, which were caused by an inflation that seems that it would not stop, and the political fluctuations after the assumption of Mauricio Macri as the President. In this outlook, the tax collection of the gaming sector could suffer a fall due to the new Income Tax. Some experts claim that it could be US$ 221.6 million for the provincial governments. Unlike its neighbors, in Argentina the use of gaming (in all of its versions) is a responsibil-

ity of the provinces or the local governments and not of the federal level. This is the reason that caused strangeness during the debate that finally gave the control of gaming that used to belong to the old National Lottery, to a competition of the City of Buenos Aires (CABA). This initiative turned on some controversies about the legal and financial implications for the city.

GAMING´S AUTONOMY After some agreements between the National Lottery and the finished Betting Institute, the legislature made the transfer of gaming to the CABA of-

ficial on last December 15th. For this purpose, the new Lottery of the City of Buenos Aires State Society (LOTBA S.E.) would be created. According to the regulation, this entity will be in charge of the “authorization, organization, use, collection, administration and control of games of chance, skill games and pari-mutuel betting, and related activities in the city”. In the text, it is also established the prohibition to open new halls. The order —which was published in the Official State Gazette in June— will not affect the floating casino of Puerto Madero (150 tables and 1,500 FEBRUARY 2017

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slot machines) or the one that is inside the Horse Racetrack in Palermo (4,600 slots). Those establishments will operate until the end of their periods under the same conditions in which they were franchised.

suggested by the Ministry of Treasury and Public Finance is traying to earn more incomes for the Internal Revenue Service. For this reason, with the Tax Income, sectors with great purchasing powers that were historically exempt from a similar tax will be those that will pay more.

A SALES RECORD In the provinces, different modalities of gaming marked a successful path. The last raffle of the “Telebingo Súper Extraordinario” of the Lottery of Chubut ended the 2016 with record incomes: more than 43,000 sold tickets and a prize that was over the US$318,000 that was given to the winners. For its part, the Social Assistance Institute (IAS) of that province gave almost US$3.7 million in prizes. And thanks to the popularity of the La Neuquina Lottery, the local government experts to close the 2016 with earnings of US$ 67.1 million from the bets and a tax of US$43.5 million. The expectations are so auspicious that the Provincial Institute of Gaming from Neuquén (IJAN) is seeing a great year coming. For this entity, the local bets will reach an annual amount of US$31,090 million, close to the US$621.8 million each week. A goal that could be overshadowed with the tax reform.

COSTS AND TAXES With apparently all the problems finished, the recent Tax Law 2017 that was

The lottery of the City of Buenos Aires State Society will manage the gaming sector in the city. The new measure considers an automatic annual updating so the most powerful sector will always have to pay the 10%. A tax for the mining sector and the new judges was established. For its part, the online gaming will also pay 7.5%, while the slot machines from the casinos the 10%. But, which will be the impact? The fiscal cost of this fourth category reform will be of about US$3,100 million, from which US$1,700 million have been considered in the National Budget, while the rest will be compensated with the gaming taxes and the increase of consumption.

The Tax Law 2017 increases from 12% to 15% the aliquot of the Gross Income Tax.

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A NEW ENTRY Besides, from January 2017, in the 46 bingos of the Province of Buenos Aires people will have to pay an admission ticket of 20 Argentinean Pesos (US$1.30). The 50% of the tax will go to the local governments and the remaining percentage for the programs against addictions in that jurisdiction. This situation did not wait too long to generate rejection. From the Chamber of Casino Halls, Bingos and Annexes, it was expected to impugn this reform due to the serious impact that it would cause. Above all, because these taxes superpose with other current taxes, like the one for gross incomes that the provinces already collect.

A GOOD IMAGE Pools, on the other side, reached a positive development. This year, the Lottery of Chaco has invested more than US$6.3 million in different works. With that, 30 swimming complexes were financed and more than 20 clubs and sports centers were remodeled, as well as chapels, cultural centers and public promenades. This initiative helped opening thirty new agencies. The Lottery of Río Negro made 3,000 surveys to measure its image. The questionnaire generated a 79% of a positive perception (66% good and a 13% very good). An approving grade that inspires the development of all the Argentinean market.

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In Argentina

THE WAYS OF WINE

In the Andean geographic of the country warm vineyards and mild wineries prosper, which keep the aromatic history of the wine.

he sinuous mountainsides of the Argentinean Andes give shelter to the paths where you can go all over with all the senses. These more than 2,000 km long routes that go from the Province of Salta to Río Negro, distill sweet fragrances, touches and tastes that attract hundreds of travelers and sommeliers each year. No one could ever have imagined that the little vine staffs that were brought by a Spanish priest in 1556 would start a delightful pastime: the wine tourism. In Argentina, a land of magnificent malbecs and red torrontes, you can go all over these wine routes with the excitement of an eager wine-taster.

ARTISAN ORIGIN The story tells that the “lagrimilla” (an unfermented grape juice) was the first wine that was produced in America and tasted by the Spanish court. Taken by the Jesuits of that country in the XVII century, the craft producers of Colón and Colonia Caroya, in Córdoba, were soon interested in making this famous liquor. In this province, the wine route is made of eight wineries that are scattered in a place that is located an hour from the Cordovan capital. With the tastings, the grape harvest festival is made in March, which ends with a lunch among the locals and the tour-

ists on the street and under a leafy grove: the grape´s “Sagra”. On the other side, in Catamarca, there are tours to the viticulture centers in the arid and dry zones. Varieties of a good body and taste like the bonarda, cabernet sauvignon, syrah and torrontés are cultivated in them.

HIGH ALTITUDE WINE The bunches of Salta defy the mountain range: they are the highest of the world. In the vineyards of Colomé, Tacuil and Payogasta, their fruits vary between the 2,200 and 3,000 meters above sea level. Other cultivations grow 1,700 meFEBRUARY 2017

SPECIAL EMPRESA ARGENTINA

Foto: Minutoya.com

ters high among magnificent landscapes and an average temperature of 25° C, like those from the wineries that are in the Quebrada de Cafayate and the Calchaquíes Valleys, two hours and a half from the capital of Salta. The torrontes has grown in those splendid conditions, a whine variety that only exists in Argentina and that is demanded by exclusive restaurants. The Chilecito Valley is the main production zone of the Province of La Rioja. The Riojan torrontes and the sparkling wines that are made with good vines in La Riojana Cooperative, Chañarmuyo or Liberman, just few hours from the capital of the province, are a delicacy for the most demanding palates.

Prior to the Grape Harvest Festival, the traditional Queen´s Carousel, or Carrusel Vendimial, is made in Mendoza.

With more than a thousand wineries and the 70% of the national production, Mendoza is one of the eight worldwide capitals of wine. THE WINES´ LANDS The dry and sunny weather of Mendoza (between the 900 and de 1,500 meters above the sea level), turns it into one of the eight worldwide wine cities. With a high wine-making production (almost the 70% of the Argentina), the malbec shines like a fragrant ambassador in the high zone of the Mendoza River. With 150,000 hectares of vineyards and more than 1,000 wineries, it seems difficult to plot a path. If you go to the north zone (between the 600 and 700 meters above the sea level), you will find white fruit wines and young red wines, which are different to the unique sourness of those that are made in the valley zone (between the 800 and the 1,400 meters above the sea level). A good trip can be going through Luján de Cuyo and Maipú, just 25 minutes from the capital of Mendoza. In its surroundings, you can visit the coun12

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Andrés Rosberg, President at the Argentine Association of Sommeliers.

The mechanical harvest of grapes in Mendoza.

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trysides of Alta Vista, Di Tommaso or Trapiche. This historical winery, the first in the country of gauchos, was funded by Tiburcio Benegas in 1880 and it still works. The tour guides recommend visiting the Province of Mendoza at the beginning of March, when the grape harvest festival is celebrated (since 1936). In Maipú, tourists can go on a walk among the oak barrels and the old pots of the Wine Museum Felipe Rutini, located in La Rural, a winery that still works and was funded in the XIX century.

FERTILE VALLEYS With their great capacity (almost the half of the production of Mendoza), wineries of the east region produce house wines that are made with great creole vines, muscatel and cherry. Among them, we can find some that are prominent, like Don Alberto, Lanzarini, Santa Cecilia, Santa Sara, Pacífico Tittarelli, Alto Salvador or Santa María. The vineyards from Valle de Uco, an hour from the capital of Mendoza, hardly reach the 10 years. This zone is perfect for white wines (sémillon) and intense red wines (malbec, cabernet sauvignon, tempranillo and barbera) with good bodies, made in Alto Cedro, Bombal, Los Parrales or Fournier. San Rafael, a valley that is located three hours from Mendoza, receives the travelers with more than 22,000 hectares of vineyards, between the 450 and the 800 meters above the sea level. Its farms —among them, the one from the Bianchi´s family is the most famous—, which are irrigated by the rivers of the thaw, reached the certificate of origin in 1993 for its red and white wines.

MODERN COUNTRYSIDES The wines from San Juan, know about mystic and innovation. Even though the producers use steel pots and an automatic refrigeration, they refuse to leave their oak barrels. Even today, these casks can be seen in the wineries that are scattered between two national parks: the Valle de la Luna and Talampaya. Their clay soil and sandy lands, with a few humidity and sun during all the

The great celebration of the Grape Harvest Festival in Tucumán.

Representatives of different points of sale in Buenos Aires tasted the latest novelties of the Bodega Margot.

La Rural winery counts with a unique artistic exhibition that is in charge of Martín Villalonga.

year (like in the Tulum Valley), are perfect to produce the syrah variety, the main vine of the vineyard use. Twelve wineries in seven cities and 370km are just the beginning of an inevitable adventure.

like the pinot noir, merlot, sémillon and cabernet sauvignon. Between Cipolletti and General Roca, you can find the five most active and long-lived wineries of the place. Without going out of the Patagonic region, in Neuquén, the wine production is recent but competitive. In the wineries of Valle Perdido, Universo Austral or Fin del Mundo varieties of merlot, pinot noir, cabernet sauvignon, chardonnay, white sauvignon and malbec are used to be cultivated without chemical additives. To pass through the prehistoric deposits of this province after a pleasant tasting is a magical moment. Besides opening fragrant paths in Argentina, this delicate fruit, brought from the Old Continent, has conquered the senses of every person that dares to taste it.

SOUTHERN WINES If your GPS indicates 39.2° of the south latitude, you would have reached to the most southern zones in which the wine is produced. A first stop must be in the high valley of Río Negro, in the Patagonia, which has a changeable temperature —cold nights and sunny days— that gives the intensity and the sourness of the products. In these icy zones, the grapes take three weeks more to ripen in comparison with other regions, being a good weather for vines with French origins

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BRAZIL

THE EFFORTS OF TEMER´S MANAGEMENT The South American Giant registered important falls in different sectors. In this context, the State continues managing measures to resume its growth.

he crisis that currently is being lived in Brazil was generated by internal and external factors, and not only by China´s downturn and the fall in prices of the raw material in the international market. Until the start of the recession in 2015, the expansion of the country was mainly based on the increase of the family´s consumption, which was encouraged by the State, even though with high unemployment rates.

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“The problem is that, when the job market started to be under the pressure of a low-level employment rate, it started to generate a lot of inflation”, Luciano Rostagno explained, a strategist that is in charge of the Mizuho do Brasil Bank, to BBC World, in March of this year. This cut on investments and the loss of competitiveness of the industry due to the raise in the production costs end up weakening the economy.

LAVA JATO This crisis could not be explained without the news of the Lava Jato Case, one of the biggest corruption scandals of the country, because it involves the production and work of companies that significantly encouraged the Brazilian Gross Domestic Product (GDP). Among these firms are Petrobras (which was going to make use of the oil reserves that were found in the Atlantic), Odebrecht, Andrade Gutierrez and OAS,

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Comes from page 14

which were carrying out great infrastructure works. The markets´ trust in their economy was decreased.

RESCUE ATTEMPTS After replacing the President Dilma Rousseff, Michel Temer confronted a difficult context, because some discoveries of the Lava Jato case involved some of the politicians of his surroundings. Before the slow answer of his management —as when he accepted the retirement of one of his ministers after a week—, his approval got decreased, as well as the one from the bicameral Parliament of the country. In the middle of this outlook, the State took certain measures to rescue the economy, like driving a constitutional amendment that limits the public spending during a maximum period of twenty years, cuts the salaries of the State service and opens the oil exploration to private companies.

RECENT MEASURES For its part, the Central Bank announced, in December 2016, that will add the payment for an excess on its reserves to its tools to control the liquidity, increase the effectiveness of its financial policy and reduce the credit costs for

companies and consumers in the medium and long-term. Temer´s governance is also preparing a reform for the pension system. At the moment of finalizing this edition, the polemical initiative continues on being managed and has been harshly criticized. The first draft of this bill plans a minimum retirement age of 65 years for men and women, a reduce in benefits due to death and an increase in the contributions of the public servants to security.

The Cepal waits for the situation of Brazil to improve and that it’s GDP grows a 0.4% in 2017. Nowadays, there is a less consumption and investments and it have been registered some reductions in the production of the agricultural and manufacturing sector. According to reports of the Central Bank, the country ended the 2015 with an economic contraction of 3.8% and the numbers

Michel Temer´s governance is preparing a reform in the social security system of Brazil.

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for 2016 were also in that direction. On the contrary, they estimate that the inflation for this year will decrease from 6.52% to 6.49%.

FINAL PROJECTIONS Predictions of the preliminary balance of the Economic Commission for Latin America and the Caribbean (Cepal) are almost similar, because they point out that Brazil will end the 2016 with a fall of a 3.6% in its GDP. This report shows a reduction of the supply and demand sectors. In the same way, it indicates that the unemployment rate was increased to the 11.8% in the third trimester of 2016, in comparison with the 8.9% that was reached during the same period in 2015; and that the real monthly salary —an indicator that measures the purchasing power of an average worker, so as to see if he is affected by the prices rise— accumulated a loss of 2.45% in four trimesters, until October of this year. The report points out that the inflation started to go down, reaching to a rate of a 7.9% in October, three less points from what it was registered at the end on 2015.

OTHER INDICATORS As regards the public deficit —fiscal and budgetary losses—, the document shows that Brazil reached the 7.3% of the GDP in October of 2016, in comparison with the 9.1% in the same period in 2015, and that the public debt changed from a 36.2% of the GDP at the end of 2015 to a 44.2% in October of 2016. “In the context of a limited internal demand, the deficit of the checking account of the payment balance was reduced as a result of a pronounced fall in the importations, which influenced the increase in the surplus of the goods account to US$38,500 million”, the preliminary balance of the Cepal said. The representatives of this organization expect that the situation will be better and that the South American GDP will grow a 0.4% in 2017. At the time of finalizing this edition, the Brazilian authorities were still waiting for the final reports of 2016.

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grey areas to the legal and regulated market. Virtually all the market demand was legalized, controlled and reduced to meet the needs of government and society. This is the case with street machines. We have more than 450,000 machines in the country today and these will not leave the streets after the legalization of the games, even if these are criminalized by the new law. PL 442/91 provides for the legalization of this activity through the BR1 machines. PL 442/91 addresses other issues omitted by the Senate, such as improves operation of the State Lotteries and improves the operation of the lottery network.

Magnho José Santos de Sousa,

President at Instituto Brasileiro Jogo Legal

REGULATION PROPOSALS A brief analysis of the two initiatives that are being discussed to legalize casinos in Brazil, by one of their main defenders.

he Brazilian Legislative Power is preparing two bills to regulate the gaming market: the PL 442/91, which is in the House of Representatives, and the PLS 186/14, in the Senate, and which counts with more possibilities of being approved. Magnho José Santos de Souza, President at the Brazilian Legal Gaming Institute (IJL), an NGO that works for promoting the creation of a solid regulatory framework for the activity, who talked with Revista CASINO in December. Next, a brief extract of that interview about the benefits of both initiatives.

In your opinion, which of the two proposals that are enacted in the Brazilian Parliament is the most detailed? Despite long period of clandestine gambling in Brazil, 75 years for “Jogo do Bicho” and 70 years for casino, the proposals in process in Senate (PLS 186/14) and Lower House (PL 442/91) represent a breakthrough for the country. The option for PL 442/91 is this proposal legalizes market demands, including street machines (slots-machines or video games). How do you come to that conclusion? We have accompanied several countries that migrated from clandestine or

What games would be the most productive? IJL defends the legalization all types of games in the country. We understand that some modalities may be implemented short term such as “Jogo do Bicho”, slot machines, online gambling and sports betting. Medium-term bingos and long-term casinos due to implementation works. In both proposals are planned to regulate the popular animal lotteries or “Jogo do Bicho”. How beneficial is legalizing a game as controversial as this? The gaming industry has great capacity to generate direct jobs. One of the examples is the centenary “Jogo do Bicho”, which moves around R$ 12 billion (more than USD 3.7 billion) per year without any counterpart to the state and society. This modality, which despite being prohibited 75 years ago has social legitimacy, is marketed in more than 350 thousand points of sale, generates 450 thousand under-employment in the country and receives daily bets more than 20 million Brazilians. Finally, both bills establish the operating conditions for the gaming rooms. But how will be the import of slots and other game elements? After approval of the law, the operators will not have problems importing machine slots and other elements. The greatest difficulty will be the customs tax burden of the country to import these equipment, favouring the installation of plants in the country for mount of the machines. FEBRUARY 2017

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BRAZIL

REOPENING OF CASINOS ON HOLD One of the two bills to legalize gaming is going through its last discussions. The bet on the markets is still firm. Foto : © Moreira Mariz/ Agência Senado

t the middle of December, The Plenary Session of the Senate Chamber of Brazil decided to send the PLS 186/2014, a bill that considers the legalization of gaming in the country, to one of its work teams for a better analysis. This project, which was made by the senator Ciro Nogueira, was going through the last stage to get its approval and be published, after being evaluated by the two chambers of the Brazilian Parliament.

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The initiative went then to the Constitution, Justice and Civic Responsibility Commission of the High Chamber, which is in charge of verifying if the parliamentary proposals comply with the regulations that are established in the Federal Constitution of Brazil, to be discussed by its members in February 2017. According to some reports of the local press, some senators have also expressed their intention of carrying out some public hearings before the next session.

A POLITICAL DEBATE Currently, the debate about the reopening of casinos revolves around the religious and political standpoints. Its opposition argue that, for example, the industry cannot be controlled and it can favor money laundering. “The prohibition of seventy years of the sector has been turned into a moral matter, like the abortion and drugs. We usually ask ourselves why (he continues), if in other countries of

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the region it is regulated and legal”, said Magno José Santos de Souza, President at the Brazilian Institute of Legal Gaming(IJL), during an exclusive interview with Revista CASINO. Another of the reasons that the senators expressed during the last plenary session, was related to the possible increase of compulsive gamblers cases.

THE REGULATION OF THE SECTOR

In the same way, it establishes the distribution of the tax incomes of the entire activity: the 93% will be invested in social security —health services, social assistance and pensions—, a 3% for the National Penitentiary Fund, a 2% for the Federal Police Department and a 2% for the National Culture Fund. During its

analysis, the bill could be subjected to more changes.

A CONTRIBUTION FOR TOURISM “We understand that the legalization of casinos could reactivate and revitalize old destinations, like the hydromineral ranches of Minas Gerais, or it could create other spaces”, said Magno José Santos de Souza during an interview with Hotéis Magazine. There is also a possibility that operators could invest millions of dollars in casinos and different lodgings. Important brands from Las Vegas, like MGM Entertainment or Hard Rock Café, publicly expressed their interest in building their establishments in Brazil, as well as some entrepreneurs from Chile and Spain. Foto : © Beach Park Suites & Resort

The previously mentioned project includes the legalization of casinos, slot machines and video bingos —which were forbidden since 2004—, bingos and the popular animal lotteries, which are known as jogo do bicho, among others. Their sympathizers claim that this measure could end with the illegal market: 450,000 videogame machines and slot machines, bingo establishments and more than 350,000 points of sales of jogo do bicho, among other modalities. “Gaming already exists in the country. It is time that people can get some benefits of it through its legalization”, the senator Ciro Nogueira claimed during its intervention in the Plenary of the High Chamber. In this sense, the author of the PLS 186/2014 informed that in Brazil there are more machines than in USA, where the activity is regulated; and that for example, in every corner of São Paulo, there are shops with this equipment, which are “often protected by the Police”.

The legalization of casinos in Brazil could reactivate and revitalize old destinations, like the hydromineral ranches of Minas Gerais.

A DETAILED PROPOSAL The bill also allows the states to create their own lotteries, which was forbidden since 1967. Nowadays, the rubric is restricted to two great groups: the national lotteries, which are operated by the social bank Caixa Econômica Federal, and the state ones, which are managed by five of the fifteen states that count with an authorization to do it. This proposal defines the type of games, the guidelines for its authorization, the time of every license, the entities that would be in charge of the regulation —in this case, every State and the Executive Branch, like it is in the case of casinos—, and the tax collection, among other things.

REQUIREMENTS FOR CASINOS The bill 442/1991, the other proposal, has more information about the conditions for the operation of the casinos. The document, which is in the House of Representatives, establishes that the halls could exclusively work in integrated complexes, with multiple areas for lodging, leisure and cultural spaces. In the same way, it determines the number of entertainment establishments and rooms that the hotels where they would work will have to count with, based on the population density of each state. This project, however, results quite controversial due to it grants amnesty to all the people that have been accused of illegally take advantage of gaming and ends the legal processes that are being developed.

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SPECIAL EMPRESA

BRAZIL

THE ALAGOAS´ CHARMS

This part of Brazil is known for its natural pools and idyllic beaches that are surrounded by palm trees. A passo obrigado for this summer. 20

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Foto : © Tn Operador

he State of Alagoas, in the Northeast of Brazil, stands out for its great variety of landscapes with Caribbean style. Its white sand beaches, clear waters and palm tree forests are included in the top 5 of the ranking of the best summer destinations in the South American Giant. As in other parts of the Caribbean, the story of this place goes back to the times of the first European explorers. And, nowadays, hundreds of years later, it stands out for attracting tourists from different parts of the world and concentrate a great offer of restaurants, hotels and resorts. Beach, sun and pleasant environments far from the great city. Maybe these are the reasons why every attraction of this state, located from north to south of its coast, is considered as a place that, no matter what, you have to visit if you go to this country. The tour guides say that the best season to go to those beaches is during the months of October to February. Between March and August, the rainy season starts and it can complicate the visit. Another good recommendation is to take the sun screen, sun glasses and light clothes, because in the idyllic beaches of Alagoas the warm temperatures can reach 30°C.

COLOR CLEEFS The great travels to the coast of this state start in the city of Maceió, its capital city and financial center. This metropolis of little buildings counts with the best urban beaches of the country. But, according to the tour guides, the best options are located several kilometers far from there. 46 minutes by car far from that place, in the township of Barra de São Miguel, is located the famous Praia do Gunga, which is highly visited by the residents during the weekends. In this part of the Brazilean coast you can make trips on buggy to know some of its remotes corner, in which you can appreciate the color sand cliffs. During the afternoons, the rumba starts in the bars, with different nationals rhythms —among them, the popular forró— in an environment that is strategically decorated and surrounded by coconut palms. Another local beach resort that stands out for its color cliffs is Praia Do Carro Quebrado, only one hour by car, in the North of Maceió. The place stands out for its light Green sea and the number of coconut trees that are placed in its surroundings. Near the beach, it is forbidden the access of vehicles: an important measure to preserve the beauty of the place.

Foto : © Rosanetur

Praia do Francês is divided by a coral reef barrier that form a kind of a natural pool.

CARIBBEAN CLIFFS

The colourful cliffs of Praia do Gunga are just a few steps from the sea.

In the township of Marechal Deodoro, just a little bit more of half an hour by car, at the south of Maceió, is located the Praia do Francês. The beach resort is divided by a coral reef barrier that form a kind of natural pool with calm waters, which are ideal for those that visit the place with their families or who wants to immerse in its waters and appreciate its flora and fauna. Those that look for a quieter environment can visit the Praia do Patacho, which is about more than two hours by FEBRUARY 2017

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BRAZIL

URBAN ATTRACTIONS In Maceió you can find colonial structures that date back to the XVIII century. The sugar factories and ancient facilities are being repaired by the local authorities, as part of a measure to encourage the cultural tourism. Another attraction is the winding road that is near the urban beaches, full of bars and restaurants. You can taste different plates in these establishments, in which the main ingredients are fishes and shellfishes, as prawns that were cooked in water and salt, fried crab, the sururo and the traditional peixadas with pirão, among other things.

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The Sequipe, one of the shipwreck that rest in the Alagoas sea.

The tour guides recommend to visit this landscape when the tide is low. In those moments, the coral reefs can be clearly distinguished, as well as the long sandy stretches in the submarine land.

Foto :Semptur

car in the north of the capital of Alagoas. For many travelers, this is about one of the most beautiful beach resorts of the state, just for being a desert environment with few people living there.

Foto : © marcio no mundo

Foto : © Planejo Viajar

The natural pools of Maragogi, when the tide is in an average height.

The place is ideal to sunbathe, close your eyes and get relaxed by hearing the sounds of the sea and the soft breezes.

NATURAL POOLS The tours in this part of Brazil include excursions to the famous natural pools in the city of Maragogi —Galés, Barra Grande and Taocas—, just a few minutes by boat from the solid ground. Its great depths and clear waters are similar to the great ponds of clubs and resorts. Depending on how high the tide is, tourists stop there, swim and even get immersed in its waters to observe the coral reefs and the fishes that are close to them. On the contrary, others prefer to hire a boat to practice some snorkel: with the mask on and holding to a rope, they are carried along with the boat, while observing the surrounding landscapes. Many things can be done in those idyllic places. But to make the most of it, tourist must check the official table of tides, because if they are high, the rocks and the elevations will be submerged and will lose their pool shape. Travelers should only focus on enjoying the experience to the maximum. Agencies that organize these excursions usually record the experience and take some photographs, immortalizing the nice moments to share them with the family and friends.

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TGG Strengthens Global Market Position with GLI-11 Certification awarded by Gaming Laboratories International

TGG

, a Hong Kong-based gaming technology company, further strengthened their position in the global gaming market after being the first technology company in Hong Kong awarded the GLI-11 certification by Gaming Laboratories International for its renowned Linux-powered Open Gaming Platform (OGP). TGG’s renowned Linux-powered Open Gaming Platform is the world 1st masterpiece of game aggregation technology meeting the highest security and stability requirements for the land-based gaming industry. The concept is a new fresh approach to fostering innovation for the electronic gaming industry by offering game developers and operators significant freedom and flexibility to design gaming products that meet global regulation requirements, and the possibility to extend beyond gaming by its social platform integration. Gaming Laboratories International is the world’s leading gaming certification organization for over 25 years, working with more than 475 gaming jurisdictions in 20 locations globally with a professional team of mathematicians and compliance engineers to ensure the integrity of the gaming industry. “GLI-11 is the established standard for gaming devices and systems around the world,” said Raymond Chan, TGG’s co-founder and CEO. “Being the very first Hong Kong gaming technology company to be awarded GLI-11 certification puts us in the best position now to provide long-term value to our global customers, partners, and regulators. GLI’s global capabilities will enable TGG to more effectively meet the needs of the gaming industry, further increases TGG coverage with the top tier global gaming markets.” TGG’s headquarters are located in Hong Kong with a R&D laboratory at the City University of Hong Kong (Shenzhen) Research Institute. The products are now being deployed around the globe including Mexico, Peru, Serbia, Singapore and Korea.

FEBRUARY 2016

SPECIAL EMPRESA

CHILE

SOUTHERN FORTALEZA AUSTRAL

Chile will strength its leadership in Latin America through incentives and reforms that boost all the sectors of its economy.

he financial fluctuations have clouded the competitive Chilean economy. After two decades of continuous growth, the solitary star country has reformulated its parameters to confront the internal and external political situations and the volatility of the metal market. These variables marked October with a contraction of 0.4%, the first monthly fall in seven years, according to the Central Bank of Chile (BC). Even though the government described this situation as “something specific”, the business confidence fell 1.76 points, according to the Monthly Indicator of

FEBRUARY 2017

Business Confidence (IMCE).The fact is that the Chilean downturn is associated with the fall in the copper price and to a slow recovery of the internal demand. The slowing down of the Chinese economy —its main commercial ally and buyer of this mineral— also hit the southern Gross Domestic Product (GDP).

THE COPPER´S CRISIS The power of this mineral is so strong that, without an adjustment plan, Codelco, the biggest state producer of copper with an 11% of the worldwide market, would not have reached sur-

pluses of US$79 million in the third trimester of 2016, even though when in October the mining industry was accumulating a fall of -7.1%. With an unusual price (one pound for US$2), the expectations collapsed until 1.5%, one of the lowest growth rates of the GDP since the financial crisis in 2009. However, the issuing entity has anticipated that the copper´s Price will get recovered in even US$2.35 per pound in 2017, and it can even get increased. These are the reasons that do not convince the Minister of Economy Luis Felipe Céspedes. According to his opinion, “the dependency of the copper´s

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Price should be reduced and we have to generate policies that allow to diversify the economy and improve the competitiveness of the small and medium-sized enterprises”. But, where should we start?

A DEVELOPMENT IN PARALLEL Applied by stages since 2014, the tax reform is a good start. The measure —which will be complete in 2018— tries to suppress the Taxable Profit Fund (FUT) and, in this way, increase the tax incomes of the GDP in a 3% to finance the additional expenditure on education and to reduce the tax gap. Another of the challenges is related to consolidate a macroeconomic management that tends to a more inclusive growth. During the last years, Chile has achieved to reduce the segment of extreme poverty from 7.7% (2003) to 2% (2014); and the moderate poverty from 20.6% to 6.8% in the same period. The energy problems are a pending issue. The government of Michelle Bachelet has processed before the Inter-American Development Bank (IDB) a credit for US$100 million for a Sustainable Energy Program, and is also preparing a plan for energy integration (electricity and gas) with Argentina.

ing, service and basic goods sectors— predicts a good outlook to invest.

QUALITY PROJECTS In this sense, InvestChile, the agency that promotes foreign investments, waits for distributing US$8,772 million among the mining, food, services, energy and tourism industry. During its first year of work it has already managed a portfolio of 130 projects for the following three years.

Chile has processed a credit of US$100 million before the IDB for its Sustainable Energy program. Besides, this agency will try to attract twenty centers of worldwide services, between 2017 and 2020, so as to strengthen the service exportation. The goal is that this rubric (with a current exportation of US$3,000 million per year) can grow a 15% until reaching the US$15,000 million each year.

SOLID PERSPECTIVES If the works and projects of the portfolio prosper, more than 5,000 jobs will be generated in the same period. With the reforms working, the projections irradiate positivism in the southern lands. According to the Government, the growth of the GDP will go from a discreet 1075% in 2016 to a slight expansion of 2.25% in 2017. They are numbers that are slightly similar to those that were given by the Economic Commission for Latin America and the Caribbean: 1,6% and 2% for both years, respectively. The IMF, for its part, ratifies an index of 1.7% and 2$ in this biennium; and the CB has added that the investment will grow a 0.7%, while consumption will do it until 2.4%. According to the report called Situación América Latina (Latin America: The Situation) that was published about the last trimester of 2016, made by the BBVA Research, this year will be the critical juncture for the region, with a rise of 1.3%. This will be the ideal scenario for Chile to strengthen its economic leadership that it built with a visionary perspective during the 90´s.

GOOD PRACTICES An evaluation that was made by the World Bank (WB) and the International Monetary Fund (IMF), Chile showed the compliance of the good business practices and international standards that are related to the risk management of its financial markets´ infrastructures. This survey studied the performance of the Real Time Gross Liquidation System (LBTR, for its acronym in Spanish), the Compensation Chamber for High-Value Payments (Combanc), ComDer Central Counterparty, CCLV Central Counterparty (a subsidiary of the Stock Exchange of Santiago) and the Central Securities Depository (DCV). Both entities pointed out that in the Chilean regulatory and supervision framework the authorities had clear responsibilities. The recovery of the Consumer Price Indexes (CPI) —driven by the hous-

Michelle Bachelet, President of Chile, presenting the tax reform plan, a key proposal of her Election Campaign 2014.

FEBRUARY 2017

SPECIAL EMPRESA

CHILE tegic Direction and a Master´s Degree in Management and Public Policies. She cunts with nineteen years of professional experience in the areas of changing and institutional strengthening, as well as public management and new businesses´ development, among others. Her most recent participations in the State environment as the National Planning Director at the Department of Public Works (2007-2014), and as the Chief of the Planning and Budget Division at the Ministry of Education (since 2014 until now). The most important challenge that the new authority will have, will be related to complete the bidding process for the municipal casinos. If this is achieved, the SCJ will start a new stage that will allow it to comply with its role, as regards regulation and audit, in the Chilean casino industry in a better way.

Vivien Villagrán Acuña,

Superintendent at Superintendence of Casinos of Chile

A YEAR OF CHANGES Chile is a country with a great potential in matters of casinos. Currently, it counts with 26 gaming establishments: 19 authorized casinos and 7 municipal ones.

he Law N° 19.995 defines the Superintendence of Casinos (SCJ) as an autonomous organization that represents the State and its mission is the regulation of the sector, through the promotion of its sustainable, efficient, responsible and transparent development. Despite the 2016 started with strong changes in the tax entity, the calm arrived with the naming of Daniel García Fernández as the temporary Superintendent of Casinos of Chile, who devised a series of goals to strengthen the industry: the validity of the new Law of Casinos, the process for granting the permissions for the Chillán borough, the basis of the bidding

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process for the seven municipal casinos and the development of the Study of Cadaster and Description of Electronic Slot Machines Halls. After eleven months, Daniel García says goodbye to the Superintendence to leave that position to the new authority of the Chilean gaming sector: Vivien Villagrán Acuña, who was designated by the President Michelle Bachelet. The public servant was selected through a public contest that was made through the High Public Direction System.

A NEW GOVERNMENT Vivien Villagrán is a geographer at the Catholic University, with an MBA in Stra-

TENDERS ON HOLD A pending matter that has to be solved in the gaming sector is the bidding process for the seven municipal casinos, which, after several months of debates, still generates controversies. One of the reasons why the verdict took a long time to be finished — besides the modification that was made to the gaming law in 2015— was the new mechanism of license granting that was implemented during the process last year, which is focused on promoting the transparency and the objectivity of the granting guidelines for those gaming establishments. The development of this mechanism, which had a basic principle that was related to protect the competitiveness, was made with the participation of the industry and the cooperation of different public and private figures. If the licenses are granted, Chile would make progresses towards an industry that would be regulated by a sole regulation and monitored by the Superintendence of Casinos. For the temporary director of the SCJ, the initiative would establish the basis for an ideal development and operation of the industry for the coming years, because it would benefit “the community and the casino users in a direct way”.

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AN ORGANIZED INDUSTRY

The gaming sector in Chile has found in the institutional balance the essential supply to achieve growth numbers.

he history of gaming in Chile has a before and an after of 2005. The named “New industry” —created with the Law N°19995– has progressed in almost all the regions of the nation with an original and comprehensive entertainment proposal that has resulted in an important development for all the boroughs. Consisted of 17 casinos with authorized games that are located in entertainment complexes, and for 7 municipal casinos that were created between 1928 and 1990, which are

ready to be tendered, the Chilean sector sails with good winds. That is what the November´s report claims, which was made by the Superintendence of Casinos (SCJ). Until that date, the sector has added US$615.7 million of gross incomes, of which US$50.3 million were registered in that month. The 70.1% of that amount (US$35.2 million) came from the authorized casinos, while the remaining 29.9% (US$15.1 million) was generated by the municipal halls.

AUTHORIZED HALLS The gained incomes between January and November of 2016 place the Sun Monticello (with US$109.8 million) as the best performance in the latest official bulletin that was published by the regulatory body. It was followed by the Marina del Sol Talcahuano (US$52.3 million), Rinconada (US$53.1 million) and Enjoy Antofagasta (US$38.7 million). Then, the Dreams Temuco (US$29.2 million), Dreams Punta Arenas (US$23.3 million), Marina del Sol Calama (US$17 FEBRUARY 2017

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CHILE

million), Dreams Valdivia (US$16 million), Gran Casino de Talca (US$15.6 million), Antay Casino & Hotel de Copiapó (US$14 million) and Marina del Sol Osorno (US$11.1 million). And finally, we can find Casino de Juegos del Pacífico (US$10.2 million), Casino de Colchagua (US$8.9 million), Dreams Coyhaique (US$6.5 million), Casino Gran Los Ángeles (US$6.1 million) and Enjoy Chiloé (US$4.9 million). The lowest earnings of the year belonged to Ovalle Casino Resort (US$0.9 million).

MUNICIPAL HALLS For their part, until last November, the concessions collected profits of US$197.2 million. The elegant Casino de Viña del Mar, a complex that will be managed by the Enjoy Group until December 31st of 2017, provided the standards with US$76.8 million of incomes. From far away, they were followed by the casinos in Coquimbo (US$40.8 million), Iquique (US$29.1 million), Puerto Varas (US$21.3 million), Pucón (US$17.3 million), Arica (US$9.3 million) and, finally, the one from Puerto Natales (US$2.3 million). The numbers show that the transparency is a fundamental value in the southern industry.

tion, the society decided to install its regional corporate office in San Francisco de Mostazal, Monticello´s home. From the most profitable and visited casino of Chile, the group — which now controls the 78% of the gaming market in the country— could monitor the business that are operated in Panama (Ocean Sun and Ocean Sun Downtown), Colombia (Nao Casino) and Peru (New York, Pachanga, Kingdom and Edén).

According to the SCJ, from January to November 2016, the sector has added US$615.7 of gross incomes. Thanks to this business event — which connects the Monticello with Dreams´ halls in Iquique, Puerto Varas, Temuco, Valdivia, Coyhaique and Punta Arenas–, the company has been placed over companies like Enjoy (Viña del Mar,

Coquimbo, Pucón, Antofagasta, Colchagua, Chiloé and Santiago) and Marina de Sol (Calama, Talcahuano and Osorno).

A PENDING SCHEDULE In the middle of these changes, operators and regulators try to solve common problems that stop the development of the sector, like the operation of the “neighborhood” or “popular” machines. Before this situation, the SCJ presented the report named “Cadaster and Description of the Electronic Slot Machine Halls in Chile”. To make this study, more than 3,000 licensed places were visited in the 87 boroughs with biggest populations. In 1,327 establishments, 33,009 electronic machines were found, which payed some kind of prize in cash and of which use is against the law. On the other side, it will be of extreme importance to resolve the requests for bids of the municipal casinos, which is in the Appellate Court of Santiago since the past October. The President Michelle Bachelet will have to make an important decision during the first trimester of 2017 so that the processes can be properly developed: to designate the new superintendent of the Chilean casino industry.

A POSITIVE CLOSE Also in November, the SCJ says, the regulated casinos received 418,754 visits with an average expense of US$85. The municipalities and the regional governments received almost US$5.7 million as a Specific Gaming Tax, and other US$2 million for the entry tickets. Besides, the operating societies payed US$5.6 million for the Value-Added Tax. These amounts calm, in a certain way, the institutional disturbance that the SCJ lives and that Daniel García Fernández, its temporary Director, tries to solve before the unexpected retirement of Renato Hamel in February 2016.

CHANGING HANDS Beyond the good balances, there are other ways of growing in the southern market. A clear example is the merger of Sun International and Dreams, which was signed on last June. After the opera28

FEBRUARY 2017

In 2015, Michelle Bachelet, President of Chile, extended the licenses of the municipal casinos until 2017.

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THE MAJESTIC CAJÓN DEL MAIPO Land of lakes, mountains and natural thermal springs, the Cajón del Maipo is known as one of the favorite destinations of those that look for escaping from the city and get relaxed. For others, it is a synonym of adventure and dream landscapes.

t is known as one of the favorite destinations of the people from Santiago de Chile, because of its closeness to the city, its mountainous landscapes and its pacific and pleasant weather. Some people have even decided to build their country houses close to this place for a flying visit during the weekends.

The commune San José del Maipo, located more than an hour by car from Santiago de Chile, has grown a lot during the last years. But, despite all that urban growth, the place has not lost its charm. Colonial houses are plentiful in its historic center —like the Parish Church of San José del Maipo, which is located just

in the main square— and you can feel a quite calm environment there. Families move through its streets, while some travelers lie down in its gardens to rest or get some fresh air. Close to that place, you can buy kneaded breads and Chilean empanadas. There is also a craft fair in which you can find honey, FEBRUARY 2017

SPECIAL EMPRESA

CHILE

Foto: Sernatur

Located 67 km. far from the City of Santiago, Lagunillas is the only non-commercial skiing center of Chile.

dried fruit and nuts, jam, ceramics and local sewing factories, among other things.

FIRST STOP Inside and outside of the commune you can find lodgings for every taste: from those that only offer a room service to those that include pools, spa services, massages, and other things. In the same way, there is a great variety of restaurants. The local people recommend to taste the popular Andean rabbit, with fine herbs and baked potatoes. In one of the restaurants of the town, the afternoon snacks are served with a glass of craft beer that is made with the local water. Some of the country restaurants count with spaces for picnics or for pitching tents. However, according to the local people, one of the best spaces to enjoy a lunch outdoors is the River´s Park (Parque del Río), which, as it is close to the Maipo River, is one of the favorite places for families and couples.

ADVENTURE IN THE RIVER San José de Maipo is not only a destination just to spend a day. For a while, it has been the starting point of the tours and excursions to the Andean landscapes of that great Chilean canyon that 30

FEBRUARY 2017

Thanks to the sp eed of the curre nt, the River Maipo ha s become one of the favorite ones to practice rafting.

is known as the Cajón del Maipo. One of the first stops of those that look for adventures is the Cascada de las Ánimas (Souls´ Waterfall), in a private natural sanctuary that is called the same, in the commune of San Alfonso. After visiting the viewpoint that points towards the waterfalls, the thrill seekers prepare their oars to get on an inflatable boat and practice some rafting. In the sanctuary, there are also some areas for picnic and camping, and there are some excursions to get into the mountain range for some days. Those who want to venture, can do it by foot or horse. Those that want to spend the say in the commune of San Alfonsín can visit the pools and restaurants of the place or enjoy an intense paintball match with some friends. Near to that

place, there are also healing centers and alternative therapies for those who want a more mystic experience.

NATURAL THERMAL SPRINGS Other attractions of the Cañón del Maipo are its pools of thermal springs. The most popular of the region are the natural thermal springs of the Baños Colina, which are located an hour and a half by car from San José de Maipo. During the winter, between May and September, the roads in this part of the country are full of snow and the only way to arrive is by foot. The most adventurous ones usually make the most of this moment and take their skis. The thermal pools are located in staggered terraces, just in front of the mountains and the peaks of the Chilean Andes. It is enough just with immersing part of the body in its warm waters and to rely on some of the corners to relax

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and forget all the problems. If you close your eyes and get concentrated, you can hear the sound of the streams and the little waterfalls that feed into the natural thermal springs. Those waters have therapeutic properties that, according to the local people, come from the heart of the volcano San José, in the border between Chile and Argentina.

GREAT WALKS The landscapes of the Andes are more beautiful and inhospitable as you reach higher altitudes. Among all the routes that can be taken to contemplate its glory, the one that stands out the most is the natural monument called El Morado, in the heart of Cajón del Maipo. To get to this protected area, travelers have to go all over a first stretch with a slope that is quite high, but easy to climb. In this road, you can see the upwelling of the subterranean waters that stand on different color rocks, which indicates the presence of certain minerals like iron. After crossing this first stretch, you have to continue a flat path to reach to the El Morado lake. From that point, you can get panoramic views of the hill that is called the same, between the one that is named Unión (in the East) and the glacier San Francisco (in the Northwest). In that stop, tourist take a break, have lunch and camp. Those that still have strength, get prepared to the last stretch: a visit to the magnificent San Francisco.

are dry and the reservoir acquires an emerald coloring. Those waters with magical appearance are the main source of water of the cities and communes of the Metropolitan Region. To arrive in there, it would be preferable to take a personal vehicle until the closest refuge. In that place, travelers prepare their grills to make some barbecues or the trouts they fished. In winter, you can make snowmen like those that appear in the Christmas´ movies of Hollywood. Those that want to camp, can do it in the closest places.

The waters of the Baños Colina Hot Springs come from the inner depths of the volcano San José, in the border between Chile and Argentina. THE SKIING ZONE Near San José de Maipo you can also find the skiing resort named Lagunillas, which is one of the most accessible places of the country. As it is placed 2,000 meters above the sea level, you can find snow in this zone. Hundreds of tourists arrive in this part of Chile to practice skiing, snowboard and a little bit of

bike mountain. All the equipment can be rented in the same place. You can only arrive in this skiing resort with a private vehicle. However, you have to be very careful. In the winter mornings and afternoons, snow can be transformed into ice and the trip can be very complicated. Does the journey worth it? All the tourists that reach there, especially at the end of July, during its highest season, confirm it does.

TO LOOK UP TO THE SKY Those that have visited the Andes know that the sky looks different than in the in the great cities. Always clear, from almost every corner of the Cajón, if you look up you can see a sea of stars. From a distance, the moon can be seen more clear than ever. The local people say that it is better to see it in the waxing crescent phase, when it takes the shape of a giant “D” and its craters start to be clearly seen. To see it closer, we suggest to visit the observatory Roan-Jasé, in the road El Volcán, very close to San José de Maipo. It is not the only celestial body that can be seen from that place. The managers of that place say that from Friday to Sunday, from 20hs, you can see the planet Saturn next to a bunch of multicolored stars that is called The Jewelry Box. In the observatory, you can enjoy afternoon snacks and traditional food. One more reason to meet it and, who knows, stay more days there.

TURQUOISE WATERS And, what is the good part of climbing the Andes and putting up with the weather at the top? Apart from the great views to take some photographs, we can mention the fauna of the place. More than 1,750 meters above the sea level, you can find giant hummingbirds, Patagonian sierra finches, thrushes and viscacha. One hour and a half from San José de Maipo it is Embalse El Yeso, which has calm waters, rich in rainbow trouts, that are ideal to fish and sail in a canoe. The mountain climbers recommend to visit that magical place in summer, between the months of October and March, when the mountains

The thermal springs of Baños Colina present high temperatures that almost reach the 50° C.

FEBRUARY 2017

SPECIAL EMPRESA COLOMBIA

A NEW BEGINNING After a difficult 2016 for the worldwide economy, Colombia expects to get recovered this year, following the path that was devised by the historic peace agreement.

conomically speaking, Latin America did not have a good time during the last year because of the fall in the raw materials´ price and the established crisis in Venezuela and Brazil. Its exportations fell for four years running because of a minor dynamism of the worldwide demand of its products. And this tendency was present in all the countries of the region, including Colombia. In the country, for example, there was a deficit in the commercial balance that was present during all the year, despite that, in some months, like October, this indicator was reduced to 21.5%.

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Importations showed a cut of 19.7% while the exportations fell a 18.9%. However, this 2017 would be favorable for the country and this would be also seen in its growth.

THE COUNTRY OF THE YEAR In the middle of the unfavorable international situation, Colombia was one of the countries with great social and economic progresses of Latin America, according to the British magazine The Economist, which recognized it as the country of the year. Every year, the publication stands out a country, besides be-

ing the one with the best results as regards economic matters. “There is a quite important divorce among the internal and the external perceptions about Colombia. (…) But if we look it from outside, with all those imperfections, peace represents a very important step to end the most important conflict of the country”, said Michael Reid, editor of The Economist during an interview with an international media. He also claimed that, even though there is still a lack of implementation of the peace process, the end of the

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conflict is the best news for the country after decades. The publication stood out that in 2016 the nightmare about the armed conflict ended after the President, Juan Manuel Santos, signed the peace agreement and subjected it to a plebiscite that lost at the ballot boxes. “At a certain moment, the country was about to become a failed outbreak, something that is now inconceivable. (…) Colombia is now a worthy winner”, he ended the text.

Department. The institution had also pointed out that incomes per capita of the people in Colombia could be doubled in a decade. The Nobel Peace Prize stood out that, thanks to the free trade agreements, the country counts with access to a market that includes the 1,500 million of residents. And it also emphasized that the most successful agreement of the continent is the Pacific Alliance, of which creation was leaded also by Peru, Mexico and Chile.

MORE INVESTMENTS The historic moment the country is nowadays going through should also have implications in the economic aspects. At least, that is what the Government thinks, which has predicted an additional sustained growth between 1% and 2%. “Colombia has been a country that has traditionally managed its economy with responsibility. From all the Latin American countries, it is the most stable”, Juan Manuel Santos claimed, during a meeting with more than a hundred Italian entrepreneurs, in Rome. These expectations appear from a study that was made at the middle of last year by the National Planning

attractive factor for many companies, because countries maintain and follow reasonable and responsible policies”, the President said. On the other side, it is expected that the international cooperation in the country can be increased in a 30%. According to the numbers of the Colombian Presidential Agency of International Cooperation (APC), annual resources have been registered for about US$550 million during the last years.

ENCOURAGING PROJECTIONS

The British magazine The Economist recognized Colombia as “The Country of the Year” due to its social and economic progresses. “We are about to join the Organization for Economic Co-operation and Development (OECD), which is another

Due to his efforts to finish the armed conflict, Juan Manuel Santos received the Nobel Peace Prize 2016.

Analysts agree with the fact that the Gross Domestic Product will show a growth of a 2.8% this 2017. According to Ludovic Subran, Chief Economist at Euler Hermes, Colombia is currently the epicenter of economic movements, which also generates and receives the replies of its neighbor countries of the region due to the “internal tensions that came from the peace process and its announced tax reform”. For Andrés Pardo, Executive Director of Economic Investigations at Corficolombiana —one of the biggest financial corporations of the country—, Colombia will be benefited this year due to it had already gone through the phase of the phenomenon called “El Niño” and the truckers´ strike. He also pointed out that, in addition, the result of the tax reform could be known this year. He also put an emphasis on the international situation, like the movements on the oil price and the incentives of the central banks. “The worldwide economy will present a slight recovery, which will be mainly driven by a greater expansion of the emerging economies, in the middle of a stabilization of the economic activity of China and the rise of the raw materials´ prices”. Summarizing, Colombia counts with the potential to grow during the following months. To achieve this, it needs to continue the policies that have provided the macroeconomic stability and welfare for the population, as it was resolved in the forum “Colombia in the road to competitiveness and innovation”, which was organized by the Inter-American Development Bank. FEBRUARY 2017

SPECIAL EMPRESA COLOMBIA since 2010, generating greater resources for the Colombian people´s health. Currently, the 58% of the slot machines are connected and reporting their incomes. To make all the operators comply with this important work, the regulatory body has started a series of administrative actions: a constant supervision, contractual unfulfillment proceedings and penal administrative proceedings. From Coljuegos, the goal is related to achieve a connection among the 82,186 electronic slot machines —which are authorized to operate in the entire national territory—. This situation will allow to consolidate the connection of the gaming elements, like a monitoring and controlling tool for the operators as well as a resource for their self-management.

GREAT CHALLENGES

Juan B. Pérez Hidalgo, President at Coljuegos

WELL POSITIONED

SECTOR

Gaming has demonstrated that it is a strong industry in Colombia, and casinos are among the greatest income generators for the sector.

asinos are the main games in the land-based modality. Thanks to their valuable contribution in matters of earnings, they constitute a decisive component in the industry´s development. In the last three years, the earnings have represented, approximately, the 59% of what it was obtained from the national games. And only in 2016, this type of games grew a 18%. The Colombian gaming industry is called to generate great incomes for the country. For example, in 2015, 750,000 million of Colombian Pesos (US$256.39 million) were transferred

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to the public finances as costs that were related to commercial exploitation and $500,000 million (US$170.93 million) as Value Added Tax. In 2016, the numbers did not stop being positive. Besides a significant increase in the transfers, by October of last year, the 98% of what it was planned for that year was already achieved. LOOKING FOR THE CONNECTIVITY The finalization of the schedule of the connection project of electric slot machines generated great progresses for the sector. One of them was the implementation of variable rates that the law issued

The Colombian industry has the goal of diversifying and modernizing the products. The first step has been the regulation of online gaming; with this measure, Colombia has been turned into the first Latin American country that regulated it. In the same way, this country will try that the health resources can be increased, through policies that strengthen the games that already exist or through new laws. In this sense, Coljuegos has planned, for 2027, an annual transfer of 1.2 billion of Colombian Pesos for that sector. With the purpose of providing the operators with security and confidence, in 2016 —through a joint work with the National Public Prosecution, the Ministry of Defense and the National Police— some strategies were designed for the interinstitutional coordination and the indictment knowledge. Additionally, and with the purpose of making self-control practices, the campaign “legal gaming means betting on the Colombian´s health” was launched. This measure tries to implement an appropriate policy of legal and responsible gaming. Even though it is true that the implemented measures result favorable for the development of the Colombian gaming, Coljuegos has taken on the challenge of improving that process for the following years.

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IMPROVEMENTS IN COLOMBIA

The latest progresses in the gaming sector of one of the most solid countries of the region.

olombia is considered one of the biggest gaming markets of Latin America. Its industry generates a great demand in the country, it attracts local and foreign investments, it creates jobs and, in addition, it represents an important contribution to the healthcare sector. This all turns it into a fundamental activity for the economy of the country. To understand the regulation of the sector, we should first consider that,

in Colombia, games of chance are divided into the national and the territorial ones. In the first case, they are managed by the National Government, through Coljuegos, which is connected to the Ministry of Finance and Treasury. Among the national ones are the localized games (casinos and bingos), the new games (Súper Astro, Baloto, etc.), betting (sports events), the promotional games and the national lotteries. In the second case —the territorial

games—, the departamental governments are in charge of their administration, through the National Board of Gaming (Consejo Nacional de Juegos de Suerte y Azar -CNJSA- in Spanish). In this group you can find the Departamental Lotteries and the Permanent Bettings, which are known as Chance.

RESPONSIBLE GAMING Almost at the middle of 2016, a new regulator assumed the challenge of conFEBRUARY 2017

SPECIAL EMPRESA COLOMBIA

tinuing on strengthening the Colombian industry. By the hand of the trade unions, Juan B. Pérez Hidalgo looks for making a common front to advance with the main pending matters. One of them has to be with the struggle against the illegal gaming. From Coljuegos, people is considering the creation of pacts for the legality in the departments and municipalities of the entire country. In parallel, the regulatory body has accomplished different round tables about the control of the illegal gaming, in which institutional matters were discussed so as to struggle against this situation. For example, in one of those working groups it was established, with the National Police, the creation of a report in which people can get informed about the characteristics of the gaming state monopoly during the national operations. Besides, at the end of last year, Coljuegos published a resolution in its web page in which the requirements for the adoption and implementation of the Prevention and Control System Of Money Laundering And Financing Of Terrorism (SIPLAFT) in the companies of the gaming sector that count with localized and new games as well as sportsbetting.

for the players that use this platform and, on the other side, as it opens the market even more, incomes will be increased in favor of the healthcare system of the Colombian people.

One of the biggest achievements of the sector during this 2016 was the regulation of the online gaming. Through the web site of the regulatory body it will be possible to consult the operators and the authorized sites. Users will have to register in it to create an account. In this way, they will be able to follow their history to consult about the deposit that have been made, the prizes that were won and those that were taken.

A SOLID SECTOR The industry has also made progresses in other aspects during the last months. One of them is the process of online interconnection of all the authorized electronic slot machines. This system tries to have a better

knowledge about the market, rise the standards of the sector and promote its professionalization. Another of the initiatives that was achieved in 2016 was the authorization for the operation of the electronic slot machines in shops where the main activity is not related to gaming. The regulatory body has made a meeting with the representatives of the trade unions and franchise holders to define the outlines of the operation. Whereas, at the beginning of December, Coljuegos and IGT signed the contract of the license for the use of the Baloto for five years. Previously, the gaming authority published a bill about the modification of the Decree 1068 of 2015, with the purpose of strengthening the territorial games of chance (the traditional lottery and permanent betting-Chance). And, to start with the right foot this 2017, Colombia will receive the IV Iberoamerican Gaming Summit, which will gather regulators from all the Iberoamerican countries so as to strengthen the governmental bonds. In this context, one of the most important gaming events of the region, the American Gaming Trade Show (FADJA), is preparing its edition Nº19 with a great expectations, which will be developed during April 26th and 27th.

AN ONLINE COUNTRY One of the biggest achievements of the sector during the 2016 was the approval of the agreement that regulates the online gaming. With it, Colombia takes the lead and becomes the first country in the region that has a regulation for the online gaming. This regulation allows to offer poker, bingo, baccarat, blackjack, roulette, and slots on the Internet, as well as bettings that are connected to real events, like sports (soccer, tennis, golf, etc), and others (beauty contests, weather, and other things). All this contents can be offered in casinos, bars, bingos, hotels and related commercial offices. This new regulation represents a great progress for the industry of this country because it will offer security 36

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The gaming industry transferred 440,000 million of Colombian Pesos to the health sector in 2016.

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AVENTURE IN

SAN AGUSTÍN

From the attractions that it offers, to the fans of extreme sports and hiking: we will visit a town that is located in the South of Colombia, near the majestic wastelands, forests and one of the main rivers of the country.

he San Agustín Township offers a variety of possibilities that go beyond other cultural and archaeological´s possibilities. It has enormous lands and rustic places with restaurants, hotels, and ranchs with wi-fi service. An ideal environment to de-stress and leave the routine behind is located just an

hour and a half flight from Bogota city. Delighted by its natural beauty, tourists arrive every month to enjoy its charm. German, French and Swiss visitors decided to stay and open their own business —restaurants, hotels and travel agencies— to live of those investments and to promote the region´s tourism.

Besides its natural beauty, this South part of the Colombian Department called Huila, in the South East of the country, stands out for being the beginning of great adventure tours.

ROUTES FOR WALKING In that place, trips to the Puracé FEBRUARY 2017

SPECIAL EMPRESA COLOMBIA

The little table B, with the representation of a solar deity that is always looking to the East.

National Park start after stopping at the Quinchana town and going through several paths, bridges, orchid forests, “quiches” and vines by foot. For Colombians, this is one of the most important parks in the country because there is, just there, in the middle of a huge wasteland landscape, a natural reservoir that is formed by several

lakes, which is known as the Colombian Fluvial Star, where some of the most important Colombian rivers rise. One of them is, precisely, the famous Yuma or Madgdalena.

A SPORT CHALLENGE Its fast and lively waters are ideal for practicing rafting. To enjoy it, you have to

take a tour in one of the travel agencies of San Agustín. The beginning of the journey is used to be soft and quiet; but, a little bit farther from there, the journey turns intense: currents sweep along the raft very strongly, so the journey starts to be more complicated with the rocks that stand out from the floor. For this reason, you have to follow the guides´ orders and row until you are asked to stop doing it. It is not enough to put on a helmet and a vest and take an oar to defy the fast waters and have an incredible experience. The most experienced will beg to try out the fast moving waters from the VI class: these are the strongest, fastest and most irregular. To run into this type of currents depends on the season. Travel guides recommend visiting the river in any season of the year, but try to avoid those raining and drought periods. So, which is the ideal season? According to Amid Nouselahane, Manager at the travel agency Magdalena Rafting, the best seasons to visit these places are during December, January and February.

DREAM LANDSCAPES

The popular cascade named “Los Tres Chorros”, which is located 23km far from San Agustín, is also a good place to find trout.

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A panoramic and quiet view can be found nine minutes far from the urban zone of San Agustín, in the Magdalena viewpoint where dozens of tourists

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gather to see the magnificent river that is named the same. From that place, you can also practice paragliding by counting on the help of a group of expert guides. During a 15 minutes fly, it is possible to observe the beautiful landscapes of this place. More than enough. At least, people that were lucky enough to do it say. Guides insist that there are more attractions for fans of the extreme sports and hiking. 45 minutes far from San Agustín Township you can find the “Tres Chorros” (The Three Jets) cascade, which is one of the most beautiful of the region. This is about an ideal space for practicing rappel: it means going down the rocky walls of the cascade with the help of ropes and harnesses, Keeling how the jets wet and cool off the body, and listening to the crush they produce when they brush against the stones and then smash in the river. According to the natives, those sounds would be from their ancestors.

LOCAL CUISINE In this region, horse rides through

The “Lavapatas” spring, where babies were purified.

the green paths are offered, towards the archaeological centers like La Pelota, El Tablón and La Chaquira. The tour, which lasts 4 hours, includes a brief review of the town´s story, narrated by the guides. As in the great trips, it all ends with a delicious afternoon snack. In the San Agustín Town ship you can try some of the best plates of the Colombian cuisine: the barbacue and the Huila´s tamale, the roasted guinea pig and the legumes

and green vegetables soup. As regards the afternoon snacks, the achira sponge cake, made with achira´s storch and achira or sagú, a delicious that cannot be absent in the table. The International menus are also part of the offer. In the European countries that decided to stay forever in this part of Huila, you can taste Italian pasta, German meat and many other delicious of the old continent.

IMPORTANT DATES

NEW ACTIVITIES The San Agustín´s town festival is celebrated on August 28th. During this day, besides honoring the city´s saint, some groups organize the Colombian Cinema Week, where some movies are projected in public and private places, like bars, restaurants and the National Archaeological Park San Agustín´s auditorium. The community has another important festival on December 31st: the Flour Battle. This day, young people go to the throw flour and water each other, and they only stop when the nigh comes.

Perhaps this is about a remote destination, but you always find lots of celebrations. In this town, two important events are celebrated: the town festival and the National Meeting of Culture. The last one, which is celebrated between October and November, settlers of this town go out and dance in the streets with hats, skirts and other traditional clothes, so there are also parades and several troupes. Joy is very contagious and it is difficult to stay seated. There are fewer activities during the rest of the months. Afternoons can be more peaceful, though it depends on the traveler and his interests. Maybe, for some of them, it would be better to rest on one of the hammocks that can be found in the balconies to watch the sunset and feel how the soft breeze of the place cools off the environment and relaxes you until you fall asleep: an experience that is difficult to find in the great cities. FEBRUARY 2017

IGT Extends

“Innovation at Play” to ICE Totally Gaming 2017

ICE

For more information visit igt.com. 40

FEBRUARY 2017

attendees can experience IGT’s “Innovation at Play” in stand N3-160, where the Company will showcase its vast portfolio of gaming solutions for every regulated channel and segment, and convey its commitment to leading innovation, quality content and new player experiences. ICE will provide the backdrop for the world debut for IGT’s latest multi-game suites on the versatile AXXIS™ 23/23 cabinet: diversity™ HD 3, diversity HD 4 and diversity HD 5. Building on the international success of the diversity HD bundles 1 and 2, each new suite contains a mix of innovative titles, popular themes, jackpotdriven fun and classic slot games. IGT will also highlight a number of titles from its expanded portfolio of core video, including games built on the Ascent™ platform for the CrystalSlant™ and CrystalDual™ cabinets. Titles such as Golden Egypt™, Ocean Magic™ and Big 5 Safari™ will be prominently featured in the Company’s stand. IGT will also emphasize Spin-Splosion! ™, the new single or multi-site turnkey video slot tournament solution for the CrystalDual cabinet. IGT will reveal new core mechanical reel titles such as Multipliers on Fire!™ and Bonus Wheel™ for the S3000® cabinet, along with a new high-limit version of the S3000 cabinet that offers more subdued lighting and celebrations. Guests in IGT’s stand can be among the first to experience Race Ace Arcade™, the newest addition to IGT’s Skillcade™ portfolio. Race Ace Arcade is a skill-based driving experience that envelops

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players with three immersive monitors and is paired with a sophisticated motion chair that transports players to a virtual competitive road race environment. The chair will twist, turn, rumble and vibrate, giving players the sensation of participating in a real-life auto race. Other marquee skill-based games in IGT’s stand include the omni-channel story-based game, Lucky’s Quest™ and the highly anticipated Video Reel Edge™ hybrid skill themes Texas Tea Pinball™, Cleopatra Pinball™, Little Fish Big Fish™ and Fuzzy’s Fortune™. The industry’s first 4D gaming experience, IGT’s SPHINX 4D™, will be prominently displayed in IGT’s stand. The game builds on the success of the internationally celebrated SPHINX 3D™ game, and offers players a multisensory experience that enhances its glasses-free 3D technology. Through air haptic and gesture-based technologies, SPHINX 4D players can touch and manipulate the game’s 3D objects. SPHINX 4D is housed on the CrystalCurve TRUE 4D™ cabinet with a 32-inch touchscreen display and a towering 50-inch Ultra HD, curved upper 4K display. SPHINX 4D will be joined by other new premium IGT titles and hardware solutions such as The Voice Video Slots on the 4K CrystalCurve ULTRA™ cabinet, new versions of Fort Knox® video slots and HarleyDavidson® video slots on the 4K CrystalCurve™ cabinet, ZUMA™ 3D and Jurassic World™ 3D on the AXXIS™ 3D cabinet. IGT will also demonstrate a series of progressives such as Wan Shi Ru Yi™, Egyptian Empire™ and Super Red Hot Jackpots™. IGT’s commitment to enhancing the land-based casino environment with mobile technology will be showcased in a dedicated casino systems area. Cardless Connect™, Mobile Host, Mobile Responder, and Mobile Dashboard will be among IGT’s mobile systems solutions on display in the Company’s stand. Cardless Connect continues to gain international notoriety for its capacity to be embedded into a casino operator’s app to eliminate the need

for physical loyalty cards and TITO tickets. The interactive portion of IGT stand will highlight the award-winning PlaySpot™ mobile software solution. The Company will demonstrate PlaySpot’s compatibility with other IGT systems such as Cardless Connect and IGT Advantage® casino management systems, along with the solution’s unique offerings for roulette, baccarat, sports betting, slots and lottery ticket retailers. IGT’s stand will also feature a roster of new games such as Cleopatra PLUS, which features level-up game elements. Another highlight in IGT’s Interactive demonstrations will be its new instant win game format, giving players an even more dynamic gaming experience with IGT and licensed themes. IGT will showcase modern solutions for classic betting options such as bingo, poker and sports betting, along with new platform advancements that can streamline operations and enhance the player experience. IGT’s Quasar® Video Lottery Terminal (VLT) the will be joined by a series of other special gaming innovations such as its Dynasty Electronic Table Games, video poker and keno t h e m e s such as Ultimate X Bonus Streak™ and IGT’s Multi Race Keno, in addition to a series of Amusement With Prize games, and Betting solutions.

FEBRUARY 2017

SPECIAL EMPRESA

PANAMA

WITH A GOOD STAR

After a discreet year, the economy of Panama expects to get recovered with an investment opening regarding infrastructure and tourism.

n upwelling of political and financial effects has shocked Panama in 2016. After a growth that was near the 6% in 2015, held by a tourist flow and its modern service sector —the 83% of its Gross Domestic Product (GDP)—, the Caribbean nation has trailed behind because of unexpected situations. In first place, the China´s recession, a worldwide driving force that has stopped the Latin America´s progress. Then, the “Panama Papers” —which are going to uncover the regulatory weakness of the off-shore business— and the recent presidential election

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of Donald Trump in USA, the greatest commercial partner of Panama. While this upheaval continues, Panama points to leave this uncertain zone through the expansion of its assets in logistics and infrastructure (ports, airports and railroads). The opening and establishment of free trade zones and special economic zones are another horizon to take risks for.

deregulations in businesses and a greater expense in infrastructure. To counteract these policies, the Central American government plans to issue some global bonds in the first six months of 2017. This should help financing the budgetary deficit, despite the fall in the debt of the emerging markets after the unexpected victory of the elected North American president.

THE NORHTERN IMPACT

LEGAL STRENGTH

Luckily, the scary “Trump effect” has been disappearing since the elections in November. The North American president had announced reductions in taxes,

In this delicate scenario, the solid legal guarantees have encouraged the great investments. For example, not long ago, the Panamanian president Juan

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Carlos Varela was in the opening of Las Américas Golden Tower Panama, a hotel complex with 285 rooms of the Talarame Group (Colombia). Located in the capital city, the hotel demanded almost US$80 million for its construction. But to contribute to the infusion of foreign funds is just a first path; another way is related to make the most of the geographic and logistical potential of this nation, which are aspects of special interest for USA. For this reason, the Civil Aeronautic Authority of Panama will set aside US$62.6 million in 2017 to improve security and the supervision of air and airport operations. To optimize this service —which generates the 13% of the GDP— will imply that Panama is going to conserve the category Nº1 as regards aviation quality standards.

TOWARDS THE 2030 In this way, it is also defined the “National Logistical Strategy 2030”. In this program, which is sponsored by the Inter-American Development Bank (IDB) and designed by a business consortium (SPIM SC, ABECEB and BRIHER S.A), it is planned to turn Panama into a “global competitor as regards services and logistical technology”. According to the IDB, during the last five years this rubric has grown at a rate of 89% in the Panamanian economy. For this reason, the entity has set aside US$470,000 for a project that includes a worldwide multimodal platform and the third set of locks, which was recently opened in the interoceanic crossing. Thanks to its new designed, the Frommer´s Magazine has decided to include the Visitors´ Center from Agua Clara, in the Atlantic seashore of the cannel, among the 17 vacation places to visit during the 2017. To observe the cruise ships that cross its lock-gates or the tropical forest that surrounds the Gatún Lake is something that should not be missed.

trade zone in the small town of Pacora, which is located 40km to the east of the capital city. This area will count with incentives and regulations that will contribute to the economic development. The National Commission of Free Trade Zones has given the license of this special strip to the Consorcio Industrial de las Américas, S.A. (COINLA). This society will invest almost US$230 million: US$50 million for the initial infrastructure and US$180.2 million for development and supplementary work.

The tourist guide Frommer’s has included the Panama´s Channel among the 17 vacation places to visit in 2017. Augusto Arosemena, Minister of Trade and Industry, expects the arrival of 250 manufacturing companies, logistical services, high technology and assembly, among other things. With them, 6,000 di-

rect jobs are going to be created for laborers, mechanics, electrician and engineers.

A NEAR FUTURE This package of good measures has been also focused to the “Panama Papers”. The government has been applying some reforms to avoid the tax evasion. Specially, it has signed an agreement with the Organization for Economic Co-operation and Development (OECD) so as to exchange financial information with other countries. With this changes working, Panama is getting a recovery ready. Manpower, a famous human resources firm, expects that employment will grow an 8% during the first three months of 2017, while Dulcidio de la Guardia, Minister of Treasury, plans a growth of a 6%, in comparison with the 5.6% that was achieved during the 2016. This slight increase —the first in six years— coincides with the tendency of the region. In the plans of the International Monetary Fund (IMF), the Latin American and Caribbean economies will grow a 1.6% during this new year. This is a challenge that the Panamanian industries are ready for.

AN ECONOMIC INCENTIVE Meanwhile, the Cabinet Council of the Caribbean country approved the establishment and the operation of a free

In 2016, the Panama Channel contributed with more than US$16 million to the National Treasury.

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SPECIAL EMPRESA

PANAMA

A TAX SYSTEM

Eric Ríos Aguilera,

Executive Secretary at the Gaming Control Board

During the latest years, games of chance suffered a progressive increase in their taxes. The first one was in 2009 and it was an increase of a 2,5% for the A-type slot machine halls that were in located in the casinos. The percentage (which changed from 10% to 12.5%) existed until December 2011, because in the following month, in 2012, the number reached a 15%. That same year there was another increase on the gross incomes that the sector had to pay. The regulation asked for 12% tax for the tables in the casinos, as well as an 15% for the A-type slot machines halls of the Presidente Ramón Racetrack. Finally, in 2015, it was established a new tax for the industry: the “Selective Consumption Tax” of a 5.5% that was directly applied on the people that bet. In this regulation users that bet in racetracks and horse agencies were excluded.

FINAL NUMBERS

A GAMING BALANCE The increases in the Panamanian gaming taxes developed a fundamental role for the sector´s growth.

he Gaming Control Board (JCJ) is a governmental institution that was created through a Decree-Law Nº19, on May 8th in 1947. Through this regulation, the JCJ assumed the responsibility of representing the State inside the industry, safeguarding its interests and protecting the sector from any illegal act. Under the dependency of the Ministry of Economy and Finance (MEF), the regulatory body´s main goal is related to control, supervise and audit the use of

FEBRUARY 2017

gaming, as well as any other activity that origins betting, which could be carried out in or from Panama. Currently, this responsibility falls to Eric Ríos Aguilera, Executive Secretary of the activities that result to be connected to lucky or chance. Raffles, transitory games (roulette, choclo, alto y bajo, pinta, etc.), transitory bingos, slot machine halls, complete casinos and sportsbetting agencies are some of them.

Even though it is true that the constant tax reforms did not contribute to obtain an ideal close of the year —because it was demonstrated a slight fall of a 9.3% in comparison with 2015— the numbers have not been insignificant at all. A report of the MEF revealed that, during the first seven months, the industry contributed with US$46.1 million to the Internal Revenue Service. IN the same way, the Comptroller General of the Republic of Panama (CGP) informed that, between January and October last year, US$1,865 million were spent on betting. Despite a slight decrease, the statistics showed that not all the sector was affected. The CGP revealed that, from January to September in 2016, the gross sales of lottery tickets reached the US$ 522.3 million, US$17.8 million more (3.5%) than the same period last year. In the same way, the horse betting also showed a slight growth of a 0.5%, earning a total of US$39.3 million.

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A RISING INDUSTRY Panama is preparing attractive tourism and entertainment offers to receive more than 3 million of travelers in 2017.

fter years of solid growth, the most attractive gaming market of Central America has taken short steps this 2016. A report of the Comptroller General of the Republic says that between January and October of last year, US$1,867 million were bet in different gaming modalities. The number, which is not modest at all, ended up being US$192 million, fewer (a fall of a 9.3%) than the one that was bet on the same period in 2015. This gap —which could have been reduced by the end of the year— shows the worldwide crisis effects, a fall in the tourists flow and the implementation of

an unusual tax in the gaming sector. According to the Gaming Control Board (JCJ), the fiscal strongboxes received US$82 million from the gaming sector in 2015, which was a lower number in comparison with the previous year: US$96 million. Despite this situation, Erick Ríos, executive secretary at the JCJ, had declared, on last June, that “the gaming activity keeps a good pace”.

UNSTABLE NUMBERS The executive estimated ending the 2016 with earnings that could be like those in 2015. In fact, this wish had

weak effect. A report of the Ministry of Economy and Finance (MEF) revealed that, during the first seven months of 2016, the gaming sector contributed with US$46.1 million to the Internal Revenue Service. This amount represented a 5.7% less in relation to the same period in 2015 (US$48.9 million). Little by little, the collection was stopped. Only in October, the JCJ would have collected US$6.2 million, a similar number to which was registered in October 2015, which shows a slight standstill. The main falls were in the gaming tables (-26.1%), slot machines Type FEBRUARY 2017

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PANAMA

A (-7.3%), sportsbetting halls (-1.4%) and also bingo halls (-4.9%). According to the report of the Comptrollership, the sportsbetting were also affected (-11.4%). For Antonio Alfaro, President at the Panamanian Association of Gaming Operators (ASAJA), the current Selective Consumption Tax (ISC) of 5.5% that the player has to pay has caused these falls. Besides, it is estimated that 1,300 jobs have been lost since this tax took effect in June 2015.

POSITIVE GAMING Even though this tax has channeled US$45.76 million for the increase in the retiree´s pensions, not all the sector was affected. The Comptrollership´s report revealed that, from January to September 2016, the gross sale of lottery tickets reached the US$522.3 million. This amount grew a 3.5% in comparison with the US$504.5 million that were obtained in the same period in 2015. For their part, the horse betting also presented a slight growth. This modality reached US$39.3 million, a rise of 0.5% in comparison with the US$39.1 million that were registered the previous year. In times of recession, the Panamanian government started looking for new opportunities. For example, to reactivate the promotional packages to visit its geography and consolidate the entertainment offer in all of its versions to attract more than three million of travelers that would arrive in 2017.

plies path towards the Wizard Beach and the Coffee Route in Chiriquí, which are being managed by the Tourism Authority of Panama.

The horse betting and the lottery tickets sales reached an important growth in 2016. The Tourism Authority of Panama has set aside US$7.1 million for programs and tourist improvements. These alternatives —among which we have to include the remodeling of the Frontera de Paso Canoas Building (which will be ready in February) and the tourism improvements in the Antón Valley, the Taboga Island and the Honda and La Restinga beaches— will cost

US$7.1 million. Before this, how is the gaming sector responding?

A CONFIDENCE SIGN At least for now, to preserve the caution is the best option. However, some trade unions think about confronting the tax with some compensations, like credits for playing, drinks and free snacks, free shows and other similar things, like in the gaming complexes in Chile. The announcement of the South American Gaming Suppliers Expo & Congress (SAGSE) 2017 for May 10th and 11th is another good sign. This time the novelty will be an Institutional Transparency Campaign in the entire Latin America under the slogan “Let gaming keep on being a game”, which is driven by Monografie. This initiative — which will be also promoted in the 25th edition of SAGSE @ Buenos Aires in November— will look for the creation of the Latin American Gaming Day. This date will encourage the unit of all the institutions of the sector and their team members, which will start to appear in the 23 casinos and 100 gaming halls of Panama.

IMPULSO TURÍSTICO While the sector is analyzing different ways of reducing this impact, the businessmen do not lose faith on this nation. The Américas Golden Tower, a modern complex with 285 rooms that is located in the city and which was opened on last December, confirms this fact. The building is operated by the Talarame Group of Colombia. Like this one, new projects have been announced under a sustainable and rural development vision. There are some examples: the ecotourism plan of Bahía de Delfines, the ecological sup46

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The 2016 was favorable for the horse betting, which presented a slight increase in its incomes.

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Discovering the attractions of

COLÓN A land that is rich in navigators and explorers´ stories and, at the same time, an ideal destination for the ecotourism and extreme sports lovers, which is located less than an hour from the City of Panama.

he town of Portobelo, which is located three hours by car from the capital of Panama, hides pirate and great sailors´ stories. Its settlers tell that, for example, Christopher Columbus arrived in that city in his last travel to America, on board of the Santa María and that in a hidden place there, rests the body of the famous English pirate Francis Drake. In those times, Protobelo was an important port where the Spanish people exported gold and silver from South America to Europe. To protect their wealth, the fortresses of San Fernando, San Jerónimo, San Felipe, Santiago de Gloria and la Batería de Santiago where created, which were located just few steps from the little town.

In 1980, the San Lorenzo fort was declared a World Heritage Site by the UNESCO.

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PANAMA

The time and the humidity rusted the great cannons that once protected the metropolis from the pirates and looters. In front of them and the solid stone walls, the huge galleons and caravels cannot be seen anymore, but private yachts. The fortresses were not the only structures that supported the time´s inclemency. The Aduana, a mansion that served as a storage for the gold that was going to be exported, is nowadays used as a great archaeological museum, with unique objects from the times of great explorers and sailors.

Foto: Brandelet Didier/ ASAJA - CAMTUR

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THE FEATURES OF THE SEA Puerto Portobelo is located in the Province of Colón, a destination with a great tourist potential from Panama and the Caribbean that stands out for its sublime beaches, huge jungles and tours to practice extreme sports. In this part of the country, you can practice diving in several coral reefs and contemplate the fishes and animals that live in them. You can also practice snorkeling or sail on boat or kayak. Panama, its residents say, means “fish abundance” in native language. Isla Grande is close to several coral reefs, in which coloring species live.

And, in truth, the country lives up to its name. In the waters of the province of Colón, near to the coast, snappers and groupers (or boalá) live there, two species that are easy to catch. The town is also known by its congos and diabladas: Afro-American dances that represent the dispute between the right and wrong, which is characterized by the customs of black slaves and Spanish men with masks of demons.

ISLA GRANDE

The weather in the beaches of Colón is tropical, with a temperature that varies 25°C to 32°C.

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The good features of the Province of Colón are not limited to the places and landscapes of Portobelo. 52 minutes by car from this city you can find the dock of La Guaira beach, from where the boats and ferries that transport the local and foreign tourists to Isla Grande. The place has been turned into the main shelters for the Panamanians that escape from the routine of the city dur-

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ing the weekends, because it has all that is necessary to get relaxed: a warm weather, white sand, beautiful beaches and tropical woods. The travel by boat to the island takes five minutes. During the journey, the figure of a huge Black Christ can be seen in the distance, which dates back to the colony times. An example of the devotion of its ancient residents. Those who reach to solid ground make the most of going for a walk through the wooded paths, in the middle of the palm trees and making photographs of the animals. Usually encouraged by the settlers, tourists prove that the local cuisine, which is basically prepared with coconut milk, and visit the lighthouse of Isla Grande. From the balcony of that structure, which is among the largest of the region, you can enjoy one of the best views of the Caribbean Sea.

This castle is an example of the military architecture of the XVII and XVIII centuries, and served as a protection system before the attacks of the English pirates.

The San Lorenzo Fort is in Colón, one of the greatest and oldest Spanish fortresses of America. It has subterranean channels with several directions, and a beautiful view

to the mouth of the Chagres River or Río de los Lagartos, as Christopher Columbus called it once. The fortress is part of the National Park San Lorenzo, where dozens of tourists get together to spot the different bird species and walk through the different paths of the region. Howler monkeys, venomous frogs, different species of spiders, mammals and reptiles live in these dense woods. The tour could not end without a visit to the Museum House of Coffee of the achiote community and the close ranches. So, it is the tourist who will choose to explore the great jungles of Colón, as the conquerors did hundreds of years ago, or to enjoy a refreshing evening event in some of its Caribbean beaches.

PANAMANIAN ECOTURISM Another destination that should not be missed is Sierra Llorona, a private reserve in the middle of the jungle of Colón, located between the towns of Santa Rita and Cerro Bruja. Tourists from USA, Canada, England, Germany and other countries arrive in this place to practice some ecotourism activities, like the bird watch, cycling and hiking. Some people go all over the “Orchids´ path”, which harbors a great diversity of these beautiful and exotic flowers. The Rosewood tree grows in this part of Panama, with attractive flowers that grow even in dry periods. Sierra Lloran is the Hawksbill Sea Turtle´s home —which is nowadays in danger of extinction—, as well as for seven varieties of bats and 200 to 300 species of insects. As every sanctuary of wild life, it receives visitors in any period of the year.

CHAGRES AND ITS GOOD FEATURES The southeast of the province has also its charms. In the District of Chagres, for example, you can find one of the largest and ancient Spanish fortresses of America: The San Lorenzo fort.

LIVING WITH THE NATIVES In Colón, no one loses the opportunity of sharing experiences with the native community emeberá that lives in the woods of Charges. They are used to decorate their skins with attractive tattoos, wear loincloths and live in constructions that are made on trunks. The emeberá people receive more than 25,000 tourists every year that arrive in there by canoes or boats. Some of them work as tour guides and others make necklaces and baskets that are made with palm leaves.

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SPECIAL EMPRESA

PERU

GOOD NUMBERS

Before the positive expectations of the Latin American market, Peru has been turned into the country with the greatest plan of economic development.

ccording to the inflation report that the Central Reserve Bank (BCR) presented in December, Peru closed the 2016 with a 4% growth placing itself as the South American country with the best development rate, over Bolivia and Paraguay, which approximately grew a 3.7% and a 3.6%, respectively. For the institution, the financial and Exchange numbers reverted the deficit´s tendency of the two last years. For example, the international net reserves grew to US$61,757 million,

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US$411 million more in comparison with the previous period. As regards the banking exchange rate, it ended the year with 3.36 Peruvian Soles for US$1, which represented a fall of 1.7% (2015). On the other side, the trade balance closed with a surplus of US$667 million, after registering two years in a row of negative results. In the same way, the international price of the copper and gold —two of our main exportation products— was incremented in a 17% and 84%, respectively,

Besides, the zinc price was increased in a 60.2% and the silver one in 15.8%.

FAVORABLE PLANS The current government ended the 2016 with the approval of three important reports that were focused on favoring the investments. Besides, it prioritized the realization of 55 projects that will be equal to US$15,000 million, which, combined with the projects that are in the resolution process (US$10,000 million), will reflect an im-

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portant boost for investments in 2017. Thanks to the economic measures that were adopted by the government of Pedro Pablo Kuczynski, who reached the six months in his position the past January 28th, the State authorities have planned to end the year with a growth of almost 4.5%. According to the president, among the priorities for this year in matters of economy we can find the construction and infrastructure projects. “We are going to see a significant change, but we still have to give a biggest boost to both sectors”, expressed Kuczynski during a press conference.

POSITIVE NUMBERS In an context were the main matters are the business trust´s improvement, the ending of infrastructure projects, more worldwide liquidity, low financial costs and less downward pressure, the Ministry of Economy and Finance (MEF) expects that the local economy —which is leaded by the private investments— could grow a 4.8% in 2017. For the MEF, the greater gradualnes of the tax consolidation will help to drive the economic growth, as well as guaranteeing the effective recovery of the internal private demand. Due to this situation, the public spending would grow a 3.6% in 2017. For his part, for Fernando Zavala, President at the Presidency of the Council of Ministers of Peru (PCM), the country is generating the necessary conditions so as the private and public investment can grow, at least, a 5% each. “We have made Peru start to get into its stride again and we are getting prepared to get off the ground in 2017”, the President of the PCM claimed during an interview.

GAS FOR EVERYONE According to Alfredo Thorne´s statements, the mionister of Economy, it is expecte that this year the works of the Peruvian South Gas Pipelines (GSP) can be restarted. This was decided after the announcement in whih was said that the Canadian investment

fund called Brookfield is interested in purchasing the 55% of the shares that Odebrecht has in the mega project.

The MEF expects that the local economy —which is leaded by the private investments— could grow a 4.8% in 2017. For Carlos Herrera Descalzi, ex minister of Energy and Mines during the governments of Valentín Paniagua and Ollanta Humala, if the operations are reactivated for the construction of the GSP, the work would represent a great contribution for the investments:

PRESENCE Thanks to the good performance of the economy, a national survey that was made by Ipsos Perú chose Pedro Pablo Kuczynski as the “Positive Personality of 2016”.

US$4,500 million. The ex public servant also said that if the works are not restarted this year, it would not be possible to observe a positive impact in the Gross Domestic Product´s numbers. Besides the infrastructure, investments in the mining industry would see the fruits during 2017. And the fact is that, thanks to the finalization of the mining project such as Las Bambas and Cerro Verde, the situation that was registered in 2016 will be reverted.

GREAT PROJECTS The most ambicious project of the 2017 is, without a doubt, the Line Nº2 of the Lima´s Subway, which is under the responsibility of the Ministry of Transport and Communications; its investment would be around the 2,185 million of Peruvian Soles. Besides the resources that were allocated for this projectm the list includes great investments for the country´s interior. Some of them, for example, are the third stage of Chavimochic (La Libertad), Majes-Siguas II (Arequipa), the construction of the express road of Cusco (Cusco) and the integration highway Tacna-La Paz (Tacna). The first two were mentioned by Fernando Zavala in his speech of presentation before the Congress.

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PERU regulation of the gaming sector. This legalization, which was in charge of the DGJCMT, was started more than ten years ago and since then, the amusement industry changed. That is the reason why it is not a surprise that, in matters of control, the regulatory body has been recognized by the Government with awards for Good Practices in the Public Management in 2010 and 2014. Besides counting with a market in which there is not illegal gaming, the sector counts with a System for Money Laundering Prevention and Terrorism Financing. To this, it can be added the Unified Control System in Real Time (SUCTR), a tool that keeps all the slot machines in the country connected and which allows the delivery of information to a server. This system does not only facilitate a better control of the regulator, but also offers a series of benefits for all the operators as it is a reliable source of information.

Eng. Manuel San Román,

General Director at the General Direction of Casino Games and Slot Machines.

A POTENTIAL GROWTH

The consolidation of the Peruvian industry is gathering more and more strength. The numbers and the legislative initiatives do nothing but confirm this tendency.

he gaming´s situation that has been present in the latest years in Peru has been reflected in its contributions to the State. According to the official information of the General Direction of Casino Games and Slot Machines (DGJCMT), the regulatory body of the sector, these contributions were increased in an average of 7.8% (as Gaming Tax) during the period 2010-2015. And, until now, this collection has not registered falls. In 2013, there was and increase that was the most significant

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one as regards the previous year: 269 million of Peruvian Soles (an 18.95% more than in 2012). In the next year, the activity closed the period with 269 million of Peruvian Soles and 279 million in 2015, which represents a growth of a 3.23% and a 0.35%, respectively. And the past 2016, the gaming sector earned 300 million of Peruvian Soles.

FIELD OF ACTION One of the greatest achievements of the Peruvian State was the 100%

NEW CHALLENGES Through the Legislative Decree Nº1249 —which is current since last November—, the Peruvian State gave authorization to the Ministry of Foreign Trade and Tourism to supervise the antimoney laundering mechanisms in the online gaming and sportsbetting. Then, the job will go to the hands of the DGJCMT, which is now preparing a bill to regulate these activities. The legislative initiative takes into account that face-to-face casinos and/or slot machines halls can operate sportsbetting inside their establishments, but not the use of online gaming shops. In the same way, the operating companies should get established in the country, with a legal address in Lima, where they should install and count with a server of their system, allowing the access in real time to all of their transactions. The awaited regulation of gaming and online betting will open the window for the arrival of a strong number of foreign companies. From the DGJCMT, we are sure that this measure will contribute with the sustainable growth of the industry in Peru.

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A ROLE MODEL OF REGULATION The gaming industry in Peru is known by some of its important characteristics, such as the legal security and the reordering that it offers to all the entrepreneurs.

ince 2006, Peru started a process of regulation through the Law N° 28945, a Reordering and Regulation of Casinos and Slot Machines Law, that ended in a successful way and marked a precedent, not only in the country but in the entire region as regards regulation. Its regulation is one of the most solid ones of Latin America and, until now, is taken as a role model in several countries

where gaming is being developed. The General Direction of Casino Games and Slot Machines (DGJCMT) —which is part of the Ministry of Foreign Trade and Tourism (Mincetur)— is the regulatory body of the sector in Peru and its renowned work has been internationally recognized. In 2015, the engineer, Director at this institution, was named as the Regulator of the Year for Central and South

America, by the International Masters of Gaming Law (IMGL).

A PENDING CHALLENGE One of the greatest challenges of the country is the regulation of gaming and online betting. And the challenge is not far from being achieved if we take into account that, at the end of November, the Peruvian Government gave Mincetur, through the Legislative FEBRUARY 2017

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Decree Nº 1249, the authority to supervise the anti-money laundering procedures in the online games and the distance sportsbetting. In this way, this ministry is recognized as the manager authority of this rubric. Behind its next regulation, there is a work of approximately three years. Mincetur has organized different meetings with the Financial Intelligence Unit (FIU), suppliers and online gaming operators, as well as operators of faceto-face gaming halls, for the creation of the project. Behind its next regulation, there is a three years-work. One of the proposals of this initiative that can be emphasized is the prohibition of online gaming halls, which means that this activity can only be developed through smartphones, tablets or computers. For the authorities´ part, there is an optimism about this year being the great start of this important rubric in Peru.

Law for the Prevention and Treatment for the Addiction to Gambling in Casino and Slot Machines Halls (2012). In this aspect, the National Society of Gaming (SONAJA), a trade union that groups all the operators in Peru, works for the dissemination of useful information for all the players and, besides, it also organizes different talks, which are in charge of experts on the subject.

FAIR PLAY

PROGRESSING

The industry in the country has also adopted rigorous measures for the money laundering prevention. In March of last year, the Superintendency of Banking, Insurance and Private Pension Funds (SBS) published a regulation that was based on the forty recommendations of the Financial Action Task Force of Latin America (GAFILAT). In the SBS Resolution Nº 1695-2016 it is established that all the operators that make use of 500 slot machines or more — and those that offer their services in the regions of Tacna, Tumbes, Puno, Ucayali, Loreto, or Madre de Dios— have to make a money laundering and terrorist financing risk assessment. It is also required that the obligated entities must register the suspicious operations that are made or that have been tried to be made through a computer system. Besides, the regulation establishes that the delivery of the reports of the compliance officers must be annual. In addition, there are regulations in the country that drive the responsible gaming, like the Law Nº 29907, a

In a 100% regulated market, investors —the local and the foreign ones— feel supported by a serious and stable legal framework. Through the years, it has helped the big companies to make the decision about getting installed in Peru and built their centers of operations for all the region.

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One of the greatest challenges of the country — the regulation of gaming and online betting— is closer to be accomplished.

THE MARKET Peru counts with 736 gaming halls, with a total of 81,332 slot machines and 291 casino tables. (This information was updated in November 2016).

Another of the strengths of the Peruvian market was seen during the trade show Peru Gaming Show, which is one of the most important events of the region. During the latest years, more and more people participate in this event, which is already a commercial and academic example in Latin America. In this way, the sector gets also trained in different matters that are interesting for the industry. For example, in 2016, different conferences were developed, like the Biennial Convention of Casino Games and Slot Machines (January and December) and SAGSE One University Peru (March), among others. According to some projections of the National Superintendency of Tax Administration (SUNAT), the previous year it collected about 30,000 million of Peruvian Soles, a number that could be strongly increased this year if online games are approved.

There is a great expectation in Latin America about how will Peru regulate its online gaming.

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LORETO AND ITS AMAZONIAN CHARMS

The attractions that forests and rivers hide in the biggest region of Peru, whose wealth of fauna, culture and landscapes has turned it into the paradise of the national eco-tourism.

oreto´s jungles are known for their twilights and sunsets with intense colors, and for the way in which their waters reflect the surrounding landscapes. In this territory of forests and rivers, which are part of the biggest

region of the country and the fifth region as regards great extensions in South America, live unique animal species that are in danger of extinction, besides several native communities with different stories and traditions.

The great tours to know Loreto start in the City of Iquitos, in the North East of the region. From the plane, the great size of this metropolis can be seen as well as its location in the middle of the impressive Amazon —one FEBRUARY 2017

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PERU

of the biggest navigable rivers of the world—, the Nanay, the Itaya and the Moronacocha lake. This city, which is one of the densest of the region, is known as the city of the Peruvian jungle and as a meeting point for thrill seekers.

A CITY IN THE WOODS Historians tell that catholic missionaries crossed these lands and, between the XVI and the XIV centuries, explorers and entrepreneurs did the same, looking for rubber. Its mansions, which have been turned into monuments —as The Iron House made by Gustave Eiffel, the author of the famous Parisian tower— and lodgings, today live with modern buildings. You can only reach that metropolis from two ways: in a flight that takes forty minutes from the city of Lima or in bus trip that takes more than twenty hours. However, means of transportation are easier and cheaper in the city. Thanks to an agreement with the lodgings´ owners, drivers of motorbike taxies —the most useful vehicles in the city— take tourists to from the airport to their establishments, and vice versa, for free.

The Yaguas natives teach tourists how to use the blowpipe, a 3.2 meters long weapon that they use to hunt.

THE AMAZONIAN VENICE It is always hot in Iquitos and temperatures, as in other parts of the region, can reach 32°C (89,6° F). For this reason, guides recommend to visit the city in warm periods, from April to October, which are ideal to take a dip in the rivers and lakes; and also to taste the famous juices and ice creams that are made with exotic fruits, like the

camu camu, passion fruit and cocona. Between December and March, the rainy period usually starts. In this time of the year, a part of Belén, one of the four districts of the city, starts to be flooded, becoming a kind of an Amazonian Venice, made of houses that are laid down on rafts or just tightly tied to posts that are pinned in the riverbed. That place counts with a huge market, one of the biggest of the city, where people can find some exotic products of the jungle: aphrodisiac drinks —whose names honor their supposed properties—, and rarely seen typical plates, which are made with caiman and turtle´s meat and even with suri worms. Just a few steps from Belén you can find the Malecón Tarapacá, one of the monuments of the rubber boom, which offers panoramic views of the Amazon River and the port of Belén.

GREAT REFUGES

The weather in Loreto is warm and rainy. The average annual maximum temperature is 31°C and the minimum 21°C.

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Outside of Iquitos there are different relax centers to enjoy a great experience. And, for thrill seekers´ pleasure, it also implies penetrating in the jungle a little bit more. One of the most famous places is Quistococha, an enormous touristic complex that is located just fifteen minutes from the city by car, which counts with a zoo and a reptile house, where

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some of the specimens that will, maybe, end in some tourist´s neck while he poses for a photo are exhibited. It also counts with paths for walks and an artificial beach, which is known as the Tunchi Beach by the natives, in a near lake to enjoy a quick dip. At the end of the day, tourists can enjoy a great number of plates, like the popular tacacho con cecina, paiche frito and the famous juanes. Near there, the Amazon Rescue Center, in which a group of specialists takes care of and protects the manatees that have been rescued from the fishers´ nets. In this place, people is allowed to stroke them and give some milk to the babies. Only 25 minutes by boat from Iquitos, there is another wild life refuge: The Butterfly House or Pilpintuwuasi. There, animals like sloths, capybaras and monkeys are protected; even though the stars of the place are, without the slightest doubt, butterflies. In Pilpintuwuasi a great variety of species are raised since they are only caterpillars.

RELAX SPACES Apart of the wild life centers, there are famous Amazonian lodges: groups of cabins made with wood and palm trees that are connected to each other through passages made with the same material, with nets that cover the guest rooms and protect them from mosquitos and insects.

Between December and March, part of the District of Belén in Iquitos starts to be flooded, becoming a kind of an Amazonian Venice. Inside, these spaces count with everything that is necessary to enjoy relaxing moments. Each room have

hammocks, beds, private bathrooms and, in some cases, wi-fi connection at the guest´s disposal. There are also big dining rooms, where guests gather to have lunch and dinner. Sometimes, tapirs can be seen wandering around in this place; or sloths, monkeys and toucans in the near trees, while color macaws generally stand in the corridors´ handrails. But the lodges´ service is not restricted to these conveniences. Some of them count with swimming pools for guests and offer tours to the near hills so as to observe animals in their natural habitat. The most popular trips are those that are made by raft in the night, where frogs and snakes with brilliant colors can be seen, as well as caimans. Also, visits to the native communities, like the Bora town, where people dance and take some photographs with travelers, or the Yaguas, a hunter town that teaches how to use the blowpipe are also very famous.

CRUISES IN THE AMAZON

A SECURE TRIP As this is about an Amazonian region with tropical climate, guides are used to recommend travelers to get vaccinated against yellow fever and malaria. Though everything depends on the time they are going to stay in that place. For example, if the travel is going to last more than ten days, it would be preferable if people get vaccinated against hepatitis, typhoid fever and tetanus, besides the previously mentioned diseases. For now, few malaria cases are known among tourists that go to the region. However, it is always good to be prepared. The best way of doing it is, without a doubt, to use insect repellent and long-sleeved clothes.

You can get to these towns by peque peques or motor rafts. Another way of doing it and visiting the near reserves is through luxurious river cruises, which count with rooms with double beds, swimming pools, dining rooms, bars and party halls, among other things. These vessels start their voyages in the City of Iquitos and stop in several ports and communities of the Amazon river, giving the tourists some time to know the place and admire its beauty. In most of the cases, its final destination is the Pacaya-Samiria National Reserve, in where it is easy to find the pink dolphin swimming in its rivers, an animal that is named in many legends of this place. In other opportunities, tourists are encouraged to fish piranhas with the purpose of cooking and tasting them later. Cruise trips can finish with an intense Amazonian twilight. The only difference that can be seen is that, this time, tourists can enjoy it from their rooms´ convenience, tasting a delicious afternoon snack in good company. FEBRUARY 2017

SPECIAL EMPRESA URUGUAY

CONSOLIDATING THE MARKET The boost of exportations and the electronic banking predict good perspectives for the economy of Uruguay in 2017.

ince the end of the government of Jorge Batlle (2000-2005) until the three governances of the center-left coalition called Frente Amplio, Uruguay has described a model of path in Latin America. Despite certain imbalances, this country has reached 14 years of continuous growth; the strongest stage of its entire history. According to the Central Bank of Uruguay, in almost fifteen years the tax of the Goss Domestic Product (GDP) has reached the 2%. Even though this number was the lowest one during the last years, it has saved the Uruguayan economy from the slight standstill that

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was started by the worldwide financial recession in 2009. An effect that was emphasized by the exit of capital flows and the rise in the operational taxes that the entire region experienced. And, even though the price of the commodities was slightly improved, the recovery of the high fiscal deficit is still pending, which has been close to the 3.5% of the local GDP.

REACTIVATED SALES At this point, the evolution has been erratic. Between January and November of 2016, exportations reached US$6,635 million, according to the

National Direction of Customs. In comparison with the same period in 2015, it has been registered a fall of 8%, especially as regards soybeans, the most demanded product abroad. Sales in shops, for their part, fell in twenty different sectors (the milk, iron and automobile ones) and eight rubrics have slightly grown (technology and computers). On the other side, the low inflation that has its origin in the low price of the Dollar did not stop the Uruguayan people to buy it, which was raised in a 1.7% between October 2015 and October 2016. Despite these numbers, the period between July and October 2016

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SPECIAL EMPRESA URUGUAY Comes from page 58

showed an increase. Sectors like agronomy (+2.9%), manufacturing (+0.6%), transport and communications (+8.6%) were reactivated. Besides, the government´s expense was increased (1.5%) and the private investment was driven again (+5.3%) as it was in past periods.

qualify as “critical”, since November, the government of Tabaré Vázquez has developed a plan to attract new capitals with views to the 2020. From Galicia, Spain, he presented an interesting investment program of US$12,370 million to countries of the European Community.

A COMMERCIAL ALLY

Since 2013, China is the main commercial ally of Uruguay and the destination of the 20% of its exportations.

The presence of China has played a very important role. Since 2013, the Asian giant is the main commercial ally of Uruguay: the 20% of its goods (soybeans, cellulose, wool, meat cuts, milk products and high quality wines) go to this market and it is also the main origin of the imports. According to Uruguay XXI, an investment and exportations platform, there are fifteen companies with Chinese capitals —most of them in the industrial and service sector— that are installed in the country. Basically, they are investments in the automotive and auto parts sector, as well as transport, logistics, storage and cryogenics rubrics, among other things. Even though the situation does not

A LIST OF INVESTMENTS This total amount will be itemized in the following way: US$4,230 million will be set aside for the power industry and US$2,360 million for transportation projects; while US$1,870 million will be for the social infrastructure, US$360 million for railway investments and other US$1,320 million for housing projects. The Uruguayan plan includes the investment of US$750 million in the com-

munications sector. US$550 million will be for potable water works and sanitation, and other US$550 million for docks and ports. The remaining US$380 million will be set aside for other projects.

NEW CHALLENGES The arrival of new capitals and the strength before the situations that did affected Argentina and Brazil, open new opportunities for 2017. While China gets reactivated and the White House, in Donald Trump´s hands, applies protectionist measures, it results difficult to find a consensus about the future in Uruguay. Several private consultants bet on an increase of a 0.5% or 0.7%, even though the expectations survey of the Central Bank of Uruguay indicates that it can be a 1%. The BBVA, for its part, places the growth of Uruguay close to a 0.8% thanks to a “positive contribution of the external demand”, according to its recent biannual report. This entity predicts a “significant improvement” of the tourist season with a positive impact on the Uruguayan checking account in 2017. The International Monetary Fund (IMF) has also published its prediction: a rate of 1.1%, on the condition that the external environment and the private consumption improve their situation.

VIRTUAL BANKING

In December, approximately 6,000 tons of soybeans were exported to Argentina.

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One of the ways to achieve this would be through the electronic banking. Even though this modality is not something new, it has been consolidated very quickly, to the point that one of four payments are made through an electronic way (for example, credit cards, debit cards or transfers), the Central Bank of Uruguay claims. According to Mario Bergara, President at this entity, “payments that are made through electronic ways —over the total number of payments in the Uruguayan economy— changed from a 7% three years ago, to be currently a 26%”. To join to the sophisticated and secure era of virtual operations would bring the long-awaited financial inclusion of Uruguay.

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Javier Cha,

Director at the General Direction of Casinos

Here, the private investor transfers the local rentals, personal properties and facilities. Entrepreneurs, on the other side, receive an annual remuneration that is linked to the result that will be obtained from the gaming establishments. In 2009, by a Legislative Decree, other types of investments were added: the sports and cultural ones. Currently, four casinos and five amusement halls are part of the mixed system. The current system of gaming use has been working well for Uruguay, and that is what the numbers of the regulatory body say. According to the statistics of the DGC, in 2015 the state casinos registered US$212.7 million, thanks to a diversified offer and a versatile operating system. Following the same structure, the 2016 would have left great incomes for the gaming establishments, because it is estimated that the year was finished with a rise between 6% and 7%, and a collection that is over the US$200 million.

NEW MEASURES

A STRONG PRESENCE

The gaming industry in Uruguay has demonstrated to be a solid sector thanks to the two operating systems that it counts with.

he General Direction of Casinos (DGC) is the entity that is in charge of using and regulating the casino games and amusement halls in Uruguay. Given the nature of its functions, the DGC has a budgetary system that is typical of the commercial and industrial entities of the State. The institution, which is part of the Ministry of Economy and Finances, has been under the direction of Javier Cha for six years. At the beginning (1970), the main activity of the control and regulation organization was only the direct use of

casinos and amusement halls. In this system, which is also known as “traditional”, the State is in charge of the investment, use and provision of the service. Currently, it is formed of four casinos and 17 amusement halls.

THE CURRENT SYSTEM Years later, the DGC —besides counting with the traditional system— will assume another responsibility: to complement the private investments (either in the commercial or tourist matters) with the direct use of casinos. It is in this way that the mixed operating system was born.

As regards horse betting, from January 1st of 2017, the DGC made a general prize increase of 5% in all the competitions of the National Racetrack of Maroñas. In the same way, an increase of the same number was applied on the prize for peons (Premio por Marcador No Rentado, in Spanish). On the contrary, in the Racetrack of Las Piedras it was not applied any increase, because the addition of prizes during 2016 exceeded the obtained incomes that can be applied in this concept. However, the prize for peons will have an increase of a 5%. On the other side, the bonuses that can be applied to the prizes that were obtained by specimens that were born in Uruguay will not suffer any changes, so they will be in the same last year´s table. As regards online gaming, for Javier Chai t is extremely important to try to regulate that market, because it is a niche that is part of the Uruguayan reality. For this reason, the director of the DGC has expressed the need of generating a legal framework, so the State, at least, can make use of it. FEBRUARY 2017

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MODERN TIMES A legal reorganization and some visionary projects will strengthen the role of the State in the gaming industry in Uruguay. Foto : © Departamento de Fotografía del Parlamento del Uruguay.

fter months of invariable bustles, the Uruguayan gaming sector said goodbye to the 2016 with a plausible goal. According to the numbers of the General Direction of State Casinos (DGC), the gaming establishments will close with a rise between 6% and 7%, and a collection that was about the US$200 million. This estimation —given by Javier Cha, Director at the DGC, at the end of the year— remains in the expected

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margins. In 2015, the state casinos had registered US$212.7 million, after a slight recovery and a solid support due to its diversified offer and a system of versatile use. That is to say, the Uruguayan State can make use of this activity in a supportive way or in association with a private company (a mixed investment). This form strengthens the adjustment ability to the new demands of the market and the solid presence of the State

as regards gaming, like it was ratified in a recent parliamentary initiative.

FAVORABLE PROJECTS The deputy secretary of Economy and Finance, Pablo Ferreri, considered this initiative. The document, with a pending debate, suggests the creation of the National Administration of Casinos and Betting Games of the State so as to make use of the gaming businesses and lotteries under a more modern view.

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Even though its “specifically ratifies the monopolist role of the State”, it considers, among its articles, some user´s protection procedures as regards addiction to gambling. In other of its paragraphs it contemplates that the National Direction of Lotteries and Pools (DNLQ) could be named as National Direction of Gaming.

RISING LOTTERIES Waiting for the official statistics, everything indicates that both products continued in a marked rise in 2016. US$387.3 million were obtained a year before, which means a 15% more in relation to what it was obtained in 2014. El Cinco de Oro, La Tómbola and La Raspadita were the favorite products. Luis Gama, Director at the DNLQ, explained that the progress of the lotteries and pools usually varies between a 7% and a 9%, so “it was not only a surprise for Uruguay, but also for the region” to consolidate these amounts without incorporating some new gaming modality in the market.

NEW DIRECTIONS Another Project, which comes also from the Executive Branch, will allow the cruises that arrive in other Uruguayan ports to lengthen the working time of their shops and casinos. With more available hours in Uruguayan lands, the passengers could do some shopping, go to the restaurants, visit more places, etc. This incentive would energize the economy of the beach resorts if we consider that, according to the Ministry of Tourism, during the 2015-2016 season, about 196,000 passengers and crew members disembarked in Montevideo and 121,000 in Punta del Este. In those cities, US$7.6 million and US$3.5 million were spent, respectively.

tina) and the DNLQ (Uruguay), the economic resources that are earned for social works could be managed in a ideal way. According to the agreement, the direction will send for free the official results of the IAFAS´ pool in a period that will not exceed the 30 minutes since they were made. In return, the Argentine institute will offer assistance and training for the staff of the DNLQ for the areas and the modalities that the entity may need.

Thanks to a project, the cruises that arrive in Uruguay will be able to lengthen the time of its shops and casinos on board. Meanwhile, Money laundering will be fought from the current legislation. Currently, it is an obligation for casinos, notaries, auctioneers, corporate service suppliers and free trade zones to make reports about suspicious operations. Investments are also part of the sector.

IN GOOD IMAGE An example is the recent transformation of the TV cannel´s transmission of the National Racetrack of Maroñas. For this purpose, it was invested US$400,000 in HD cameras and state of the art equipment to consolidate the transmission´s quality for Uruguay and the entire world. With the migration of the fiber optic network and the conversion to the HD quality, the equestrian place will be able to transmit the races in low brightness conditions. And as if it was not enough, an increase of a 5% was applied in January to the prizes of all the competitions, including the price for the peons.

A GROWING SECTOR This evolution has promoted the development of great events. Poker tournaments are made at the Conrad Enjoy Punta del Este Casino, with jackpots of almost US$2 million and an entry for 705 players, with a betting level in tables and slots that is not under the annual US$70 million. According to the DGC, the gaming industry moved a total betting volume of US$721 million in 2015, an increase of 7% in comparison with 2014. The efforts in 2016 and the legal strength that support them predict a confidence period for 2017.

WORKING TOGETHER The technical cooperation is other progress card. Nowadays, and thanks to a bilateral agreement between the Financial Aid Institute for Social Action (IAFAS) from Entre Ríos (Argen-

The Government will present a bill for cruises, which will allow them to keep their casinos open once they arrive in Uruguay.

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A SHELTER FOR THRILL SEEKERS In the beach resort called Cabo Polonio there is no light or internet, but fantastic beaches. It is there where the ecotourism can be practiced and you can celebrate to the rhythm of the guitars around a fire. An ideal destination for those that want to leave the routine.

ho did not ever want to get away from the routine of the city for just a couple of days? For those that choose to take a real retreat, far away from every trace of modernity, there is not a better experience than going camping and living together, for just a couple of days, with nature. In Uruguay, though it sounds a little bit contradictory, there is a beach resort in which you can go, escaping from the metropolis, and get away 64

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The ideal season to visit Cabo Polonio is spring, with a warm temperature that do not exceeds the 25°C.

from everything. This is about Cabo Polonio, one of the jewels of the Uruguayan coast, located in the Province of Rocha, a little bit more of three hours by car, far from Montevideo.

The post cards and the photographs of the place stand out its two beaches. The one that is used to appear the most is Playa Sur (South Beach), with stormy waters and a sand

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shore that occupies a great part of the coast. In the other side, you can find the Playa Norte, known for sharing a border with the sand dunes from the surroundings; and besides its history, which is full of many wrecks.

THE HIPPIE COMMUNITY The cabins and rustic houses are also prominent, and some of them have lines and drawings with different color and shapes. In that pacific community, fishers and artisan live like the American hippies did during the 70´s. Cabo Polonio would be the opposing party of the chic coasts of Punta del Este that have made the country so famous. There are no electric connections, hot water, nor even wi-fi. Surrounded by a desert, the place is quite remote from modernity. The only ways of reaching there is by foot, horse or by trucks of the military type. That last option, which was turned in one of the most picturesque symbols of the zone that was created by a French man who fought in the Second World War and saw how the soldiers move through these vehicles. The transportation business that he opened in the cape was a complete success and, nowadays, is one of the most used to reach the beach resort.

A PACIFIC RETREAT To get away from any trace of modernity could be a hole challenge for the city dwellers. Even though, for some people, it could represent one of the main charms. Between 2,000 and 2,500 Uruguayan and foreign tourists are used to visit the place; especially during the summer, from the end of December to April.

At night, groups of friends get together around the fire in Cabo Polonio, sharing the typical Uruguayan mate and celebrating. Maybe this is related with its two beaches, or just the fact of getting away and leaving behind all the responsibilities, or the bohemian environment that can be felt in the place, which is reflected by the people that come and go with their guitars and drums. Those that stay some days in the cape would probably feel that the community is lost in time.

The cabins do not have electric light or water. Some of them are painted with quite flashy colors.

The seal watch is one of the main attractions of the cape.

In the mornings, it is possible to see the people in the beach meditating or practicing yoga. The settles tell that it is easy to lie down and be carried along by the sound of the seagulls and the roar of the sea.

GASTRONOMY AND SURF The beach resort was declared as National Park in 2009 and, since that date, it is forbidden to build houses or to increase their sizes. Despite this fact, Polonio counts with its own bars and restaurants, which are mostly located in the center of the locality. Those that stand out the most are, for example, Destacan, La Golosa de Cabo Polonio, Lo de Dany, La Parrilla del Polonio and Lobo Hostel Bar. Great quality and gourmet plates are prepared in some of these places. The lunch or dinner are accompanied by local music, which makes them ideal places for a romantic event. In other places, you will find fast food, such as steakburgers, milanesa (Wiener schnitzel), truffles, seaweed fritters and well prepared plates with fishes and shellfishes, among other things. From there, you can get great views of the sanFEBRUARY 2017

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dy beaches and the rocky places of the cape, as well as of the cabins and rustic houses. Near that place, there are also surf schools for those that want to start this adventure sport.

VIEWS FROM THE LIGHTHOUSE From all the structures that you can find in this place, the one that stands out the most is the huge lighthouse that is in the rocky area of the cape. Tourists can go to the highest part of it to enjoy of the panoramic views of the three islands that are close to there — Encantada, Islote and Rasa—, which count with rocky areas that serve as home for the seals colonies. These animals are very agile to swim in these waters, in search of their food. They submerge and go out of the water to get some fresh air. Others, just lie down in the rocks to rest, sunbathe or feed their babies. The fauna of the place is not limited to these amusing mammals. Just few miles offshore, it is possible to see some Southern right whales, one of the most rare cetacean species, between August and November, while between May and August, the penguins make their appearance.

NIGHTLIFE The walks and horse rides in the beach are quite pleasant because of the views of the landscapes, especially

One of the fires that are made in Cabo Polonio to share and celebrate on a large scale.

during the twilight. The nights in Polonio result even more incredible: an absolute darkness covers the place and only the light of the lighthouse reaches to illuminate the community just for few seconds, like Jorge Drexler sings in 12 segundos de oscuridad (12 seconds of darkness), that tune that, as local people says, he composed at the top of the lighthouse. The lack of posts and houses with electric lit allows to clearly see the stars and the moon, which seems to be closer than ever. In those moments, groups of friends gather around the fire, they play the guitar, share the traditional Uruguay-

an mate and tell legends of the town. You can hear songs from Bob Dylan, Janis Joplin and the Rolling Stones, and that is when the party starts. The party continues until everyone decides to go to bed. No one can sleep outside, because camping in the cape is forbidden. That life style seems to be quite contagious. For some people, it is difficult to get used to it at the beginning, but at the end nobody wants to leave. Actually, there is a before and after of Cabo Polonio. Maybe for that reason it was recently included in the list of the fifty most beautiful places of the prestigious tourism magazine Condé Nast Traveler.

TOURIST TRANSPORT Those who want to go by car should do it in four stretches. First, you will have to take the Ruta Interbalnearia until the Route Nº9, then, the entrance to the city of Rocha until the Route Nº 10 and, finally, until the Access terminal to Cabo Polonio, in the kilometer Nº 264.5 of the Uruguay Route, a zone that is known as La Puerta del Polonio (Polonio´s door). You can also take some of the buses that work in the Terminal Tres Cruces of Montevideo. From the entrance, you can arrive to the community by foot, horse or the famous trucks that were created by the French man. 66

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