Flutter confirms application for Argentina gambling licence

Flutter Entertainment is looking to crack the South American sports betting market by securing a licence to operate in Argentina.

Buenos Aires legalised online gambling last December and announced that seven 15-year gambling permits would be made available.

That led to applications from 19 offshore betting companies, including household names such as 888 Holdings and William Hill.

Flutter, formerly known as Paddy Power Betfair, is now confirmed as one of the foreign firms in the running.

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Flutter CEO Peter Jackson told reporters last week that the company was in a “good position” to enter the online gambling market in Argentina.

The move will see Flutter partner up with Bingo Pilar, a Buenos Aires-based bingo hall operator.

The firm’s proposed expansion comes as no surprise given the impressive performance of its overseas operations.

While UK profits for the first half of 2019 took a hit due to increased taxes and tighter regulations, Australian and American interests recorded significant increases.

Flutter operates the Sportsbet.com.au brand in Australia and has licences in several US states that have legalised sports betting over the past year.