COLOMBIA approves measures for the economic reactivation of the sector: Extensions up to 6 months and discounts of 50%

Fecoljuegos has published the content of the decree on its website and below we share with our readers the most important aspects:

• Coljuegos may enter into payment agreements, including the fees for the exploitation rights and administration expenses that should have been paid in the months of March and April 2020. Terms of up to 6 monthly installments may be agreed upon
• During the months of March, April and May 2020, the fixed fee exploitation rights for internet-operated games will be reduced by 50%.
• During the two months following the resumption of the concession contracts and in the same percentage, the fixed fee exploitation rights to pay will be reduced for: elements of games other than electronic slot machines and bingo machines; and, the other fixed charges generated in gaming contracts.
• For the payment of the fixed fee rights for internet-operated games that expire during the third quarter of 2020, Coljuegos may grant terms of up to three (3) months, without generating late payment interest.
• From the month of May until December 31, 2020, the distribution and transfer of innovative gaming resources will take place in the month following its collection and not on a semi-annual basis.
• Gaming operators may request a temporary decrease, from the lifting of the suspension of contracts measure and for up to six months, of the number of authorized gaming elements
• The operators will adopt protocols for the prevention of contagion and spread of the Covid-19, with the corresponding social distancing measures in coordination with Coljuegos and the Ministry of Health and Social Protection.