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(H1): Scale of Paraguay's gambling industry
Short Cut 2025
The Paraguayan gambling market is a combination of land-based casinos, sportbetting (historically a single concessionaire), bingo/slot halls, horse racing, and national lotteries (quiniela) overseen by CONAJZAR (Comisión Nacional de Juegos de Azar). In 2024, the regulator's fees updated the record and continue to grow in 2025, and the reform adopted in 2025 (the law modernizing Ley N ° 1016/1997) laid the foundation for a transition to a more competitive licensing model.
Regulatory and "rules of the game"
Basic law: historical frame - Ley N ° 1016/1997, defining the operating mode of games and the powers of CONAJZAR. The official functions of the commission include preparing tenders, awarding concessions and allocating canons.
Reform 2025: in 2025, a law was passed (for example, Ley N ° 7348/2025 for industry media), which abolishes the monopoly model and expands the participation of private operators (online and offline) through transparent contests. This structurally changes the licensing and renewal of concessions (including quiniela).
Sportbetting: since 2018, Daruma SAM (Aposta. la/Apostala); the authorities announced a course to open the market in 2026 through a new tender, despite the current concession.
Money and scale: what is known from open data
CONAJZAR fees:- Jan-Aug 2024: G. 112.5 billion (+ 10.1% YoY).
- Jan-Nov 2024: G. 159.8 billion, already more than the entire 2023 (G. 158.1 billion).
- Jan-Aug 2025: Industry reports indicate record dynamics (+ 14.9% in tax revenues for the period). (Industry digest; evaluate based on the nature of the source.)
Market Structure by Vertical
1. Land casinos and slot halls
There is a noticeable pool of objects in the country: according to industry directories - about 19 gambling sites in 8 cities (some are casino hotels). Geography - Asuncion, Ciudad del Este, Encarnacion, etc.
2. Sportbetting
Historically, the Daruma SAM concession (Aposta. la). After the reforms of 2025, the government declares the opening of competition in 2026 through public bidding. This changes the market profile and share of sales channels (retail/online).
3. Lottery/Quiniela
The national quiniela operates under a concession model; renewal and competition around the concession is part of the discussion in the context of reforms (including on the horizon of 2025).
4. Bingo, horse racing, pari mutuel
Bingo halls and racetrack sweepstakes are on the market; these forms are traditionally included in the CONAJZAR regulatory perimeter.
5. Online segment
Reform 2025 clarifies the framework for online games and the role of the regulator, which opens a window for local and regional operators under the tender model, with a focus on compliance and fees.
Demand drivers and consumer patterns
Mobility and fintech: smartphone penetration and local payments (cards, transfers, wallets, crypto) provide access to slots and live casinos with bets in PYG.
Tourist hubs: Asuncion, Ciudad del Este and Encarnacion accumulate offline traffic (hotel casinos, entertainment areas).
LatAm pool content: providers Pragmatic Play, Evolution, Playtech, etc. are popular; show formats in live and mechanics Megaways/Hold & Win - the standard of expectations for an advanced audience (regional trend). (Industry observations tied to Latin America.)
Competition and "growth points" after reforms
Changing the model: moving away from "sole" concessions to multi-licensing through open tenders increases competition, investment in UX/responsible play and tax base.
Sportbetting-2026: opening licenses can redistribute market shares and speed up digitalization (betting marketplace, live streaming, micropari).
Quiniela and other concessions: Updating terms and increasing bid transparency is key to sustained fee growth.
Risks and challenges
Administration and control: transparent KPIs are needed for monitoring GGR/canons, KYC/AML and responsible play mechanisms.
Transition period: the time lag between the law and the secondary (by-law, tender PBK) affects the timing of the release of new players.
Gray online traffic: the faster clear rules and competitive licenses appear, the greater the migration of players to the "white" segment.
What it means in numbers (benchmarks)
CONAJZAR fiscal revenues (canons/taxes) in 2024 broke the record (G. 159.8 billion in 11 months; all 2023 - G. 158.1 billion). Trend 2025 - accelerating growth. This indirectly indicates the expansion of the gross turnover of the industry.
Ground infrastructure: about 19 objects in 8 cities (casinos, sweepstakes, etc.), which provides a basis for tourism and MICE activities.
Forecast to 2030
1. GGR grew at double-digit rates in the first years after the introduction of competition in key verticals (especially in sports betting and online casinos), as new operators and marketing arrived.
2. Consolidation and regional partnerships: international brands will enter through JV with local groups, taking into account the specifics of tenders.
3. Focus on compliance/responsible play: the regulator will strengthen metrics and public reporting on the collection of canons and social protection of players.
4. Localization for LatAm: Spanish interface, payments in PYG, live shows with regional topics - competitiveness standard.
By 2025, the Paraguayan industry is in a phase of scaling: record fees, structural reform and the planned opening of sports betting by 2026 create conditions for an influx of investments, expanding online offers and growing tax returns. For players, this means more choice and better UX, for the state - steady growth in fiscal revenues, and for operators - a window of opportunity with a transparent tender model.
Note on sources: key facts are confirmed by materials from CONAJZAR/Ministry of Finance of Paraguay and industry publications (iGB, CDC Gaming, Yogonet, iGamingToday; casino reference books). Detailed vertical GGR assessments require access to closed operator reports/consulting; in the public field, fiscal fees and information about concessions/reforms are more often available.