GOVERNMENT OF COLOMBIA CREATES NEW REGULATORY ENTITY FOR GAMBLING

A new Industrial and Commercial State Company, to be called COLJUEGOS under the Ministry of Finance and Public Credit of Colombia, will be the responsible for regulating the operation of the gambling industry in Colombia, replacing Etesa being liquidated.

The National Government’s decision is part of a restructuring of several state agencies seeking greater efficiency and control in public administration.

COLJUEGOS President shall be appointed by the President of the Republic, Juan Manuel Santos, and will be managed in the hands of a Board of Directors and several vice presidencies.

Juan Carlos Echeverry, Minister of Finance of Colombia wants to spend $ 400,000 million of Colombian pesos collected annually by way of operation of gambling at $ 2 billion of Colombian pesos per annuity for the health of the citizens, according to recent statements to national press.