Perspectives of ACCJ on Modernization and Regulatory Challenges in the Gaming Industry in Chile
May 15, 2024 | Exclusive Content
Digital Gaming News had the privilege of an exclusive conversation with Cecilia Valdés, Executive President of the Chilean Association of Casinos and Games, who shares her vision and experience in the gaming industry. In this interview, we highlight the challenges and opportunities facing this sector in Chile and the region. Additionally, we are pleased to announce that Cecilia will participate as a panelist in the upcoming CGS Santiago event, to be held on May 29th and 30th at Espacio Riesco in Santiago.
Could you tell us about your background and experience in the gaming industry?
I have been presiding over the Chilean Association of Casinos for almost two years. Before this, I was not very familiar with gambling, but I did have knowledge of the entertainment industry, as in my previous job, I led the team promoting creative industries or the “orange economy.” This time at ACC has been a great discovery, and I have learned a lot.
In Chile, to operate casinos, you must have complementary infrastructure to generate a hub for tourism and economic development for the country’s regions, so it is a sector that has a significant impact on the localities where they are located and directly contributes to their communities. That is quite interesting and satisfying when promoting and fostering this industry.
From the Association, what is the vision regarding the future of the industry in Chile and the region?
It’s an industry facing significant challenges, both economically and regulatory-wise, and due to global trends in how gambling bets are offered. On the economic front, the pandemic led to casinos being closed for several months, over a year for some, which has slowed down the recovery of activity more than we expected. Regarding regulation, Chile is currently discussing a bill that aims to regulate online betting platforms, which are currently illegal in the country but operate freely without consequences. Until that is resolved and regulated, we will continue to see unequal competition in Chile between an industry that complies with all permits and pays taxes, and another that operates outside the law. In that sense, and looking towards the future of the gaming casino industry, modern legislation is urgently needed in Chile, in line with the times and similar to what exists in other developed countries, allowing both land-based and digital operations to coexist and complement each other, while rigorously pursuing illegal operators that do not contribute to the country, users, or the industry.
What milestones has the Association achieved under your leadership in terms of operations expansion, modernization, and other relevant aspects during your presidency?
A key word in my leadership is the modernization of the Trade Association. As the guild’s president, I have made it a priority to address topics that are at the forefront of any industry, such as compliance, transparency of information, and ESG. As I mentioned earlier, the casino industry in Chile is one of the sectors that directly contributes the most to the country’s regions, and it does so from various perspectives. Socially, it cares for its surrounding communities, generating quality employment, preferential dealings with local suppliers, and a commitment to inclusion, diversity, and work-life balance. We have also focused on corporate governance and the responsibility of reporting suspicious activities to prevent and combat money laundering, among other things.
All of this has allowed us to work on the industry’s reputation, moving away from the traditional concept of being solely related to gambling and some vices, to one that provides entertainment and contributes to the community.
What are the main objectives and challenges that the Chilean Association of Casinos and Games sets for itself?
Undoubtedly, the main challenge is to see how the new entertainment industry with gambling will shape up once there is legislation allowing digital platforms to operate, and the role we will play as a trade association. It will be a change, and we are eagerly anticipating it. In several countries, this has meant a boom in the industry where gaming methods, audiences, and entertainment options diversify. Always with the safeguard of promoting responsible and safe gaming. On this matter, casinos are very aware; we are the first to acknowledge that there are negative externalities that need to be addressed. Today, we do this in collaborative work with the Responsible Gaming Corporation, of which we are members, and I myself participate as a director.
Finally, what is your opinion on hosting this important international event in your country and being a host to such important international figures?
For the first time, I will be participating in this CGS Santiago event, so I am very excited. It’s important for Chile to host international seminars where actors from different parts of the world come together to share their experiences and knowledge. Even though Chile does not have regulations allowing online betting platforms to operate, it is good to interact with operators who are interested in entering the market legally when it opens up.
On the other hand, it also allows regulators, parliamentarians, and other actors who have a role in deciding on these matters to learn about how legislation has been enacted in other countries.
The conversation with Cecilia Valdés has been enlightening regarding the challenges and opportunities facing the gaming industry in Chile and the region. Her focus on modernization, corporate responsibility, and safe gaming highlights the importance of a sector that, when properly regulated, can significantly contribute to economic and social development
