Comparison with Chile, Colombia and Argentina (Peru)

Peru vs Chile, Colombia and Argentina are key differences

1) Online regulation: "mature," "transitional" and "mosaic" models

Peru - there is a modern framework for distance games and bets (MINCETUR/DGJCMT). Licensing is mandatory; fiscal tie: 12% of base (GGR logic) + ISC 1% on each online bet.

Colombia is the region's first fully licensed online marketplace (since 2016), the single national regulator Coljuegos; the industry is recognized as the "standard" of Latam.

Argentina - federal "mosaic": regulation at the provincial/city level (e.g. LOTBA in Buenos Aires); nat. there is no single system.

Chile - transitional stage: online regulation bill advanced in Congress; in parallel - resonant court decisions and site blocking, which emphasizes the "border" status until full implementation.

Peru and Colombia - predictable for operators; Argentina requires multi-licensing by jurisdiction; Chile is in the process of implementing the rules, the risk of legal turbulence is short-term.

2) Taxes and fees (online): What affects P&L

3) Offline landscape and control

Peru - a strong network of salas de juego (machine rooms) and SUCTR-like offline online monitoring; compact pool of "canteens" casinos. (See MINCETUR/DGJCMT regulatory pages.)

Colombia - offline and online deployed under the national supervision of Coljuegos (sustainable enforcement).

Argentina - offline is traditionally strong, but the rules and tolerances in the provinces.

Chile - historically developed land casinos under SCJ (Superintendencia de Casinos de Juego); online segment - at the formalization stage.

4) Payments and fintech-UX (which affects conversion)

Peru - Yape/Plin as must-have for micro-deposits, local card acquiring (3-DS), CCI for inference; some operators have stablecoins.

Columbia - local PSE wallets/bots and cards; mature payment integration thanks to many years of legalization.

Argentina - card payments and local providers, but CUS/limits differ by province; partnerships with local lotteries/authorities are important.

Chile - card channels and banks, but before the entry of the new framework, fraud filters/refusals and blocking by decisions of courts/providers are possible.

5) Content and marketing: What 'goes in'

Peru - mobile slots with multipliers (Sweet Bonanza/Sugar Rush/Gates...), Big Bass series; Live tables in Spanish.

Columbia - broad portfolio from Tier-1 providers; mature sports marketing and club partnerships.

Argentina - strong local brands by province; emphasis on responsible advertising and combating illegal promotion (LOTBA case against influencers).

Chile - before the full implementation of the law - restrained campaigns, focus on compliant tools and responsible positioning.

6) Risks and opportunities

Peru - plus: clear tax/licence model; risk: ISC load on handle → exact billing pipes and anti-fraud are required.

Colombia - plus: national mature model; risk: regulatory rigour to unlicensed mechanics/promos.

Argentina - plus: large addressable market; risk: multi-licensing and heterogeneity of requirements, strengthening of anti-legal measures (LOTBA).

Chile - plus: a promising market at the launch of licenses; risk: legal turbulence (courts/blockages) before regulations are tightened and implemented.

7) Recommendations for operators and investors in Peru

1. Colombia benchmark: adopt the best-practice Coljuegos market - omnichannel, strict RG/AML, stable PSE analogues (in Peru - Yape/Plin/CCI).

2. Look at Argentina pointwise: if expansion is planned, prepare a jurisdictional roadmap (LOTBA, etc.), a single core stack + local adaptations.

3. Follow Chile: build relations with SCJ/Ministry of Finance, prepare architecture for possible fiscal loads and advertising quotas; Consider the risk of blocking before licenses are started.

4. Inside Peru: automate separate accounting of GGR bases and handles (12% vs 1%), optimize the payment stack (local acquiring + Yape/Plin + CCI), keep Spanish-language Live tables and slot hits in storefronts.

8) Quick comparison chart

On the predictability scale, Colombia and Peru are now closer to the "green zone" (clear rules and fiscal models). Argentina remains an opportunity for point growth with high provincial coordination costs. Chile - entry into the future: the potential is great, but a period of legal volatility remains until the rules are fully implemented. For teams in Peru, it is strategically justified: copy the Colombian discipline of compliance, keep the adaptive payment stack in line with local habits, and build expansion along the arc of Argentina (provincial partnerships) → Chile (readiness for licenses).