Coljuegos published the draft resolution that defines the calculation of the estimated value of the concession contracts for the gambling sector, specifically for the casinos or localized modality. This project modifies Resolution 20182300011754 of 2018.
Thus, the estimated value of the contract will be the multiplication of the total amount of Slots to be authorized in the concession contract by the monthly average of net income equivalent to 2.2 legal monthly minimum wages in force ($877.803 COP). The result of this multiplication must be multiplied by 12%, which is what corresponds to the exploitation rights according to article 59 of Law 1955 of 2019.
After multiplying by 12%, the result must be added 1% of the exploitation rights for administrative expenses. Finally, it must be multiplied by the number of months of execution of the contract. The equation would be as follows:
Estimated Contract Value = (Total slots number) x (2.2 wages) x (12%) x (1.01) x (Contract months left)
When other games other than slots exist in the contract, an adjustment must be made to the above formula according to the rates provided for in article 34 of Law 643 of 2001, until Coljuegos establishes the connectivity and reliability conditions for these games .
So, the calculation will be done as follows
Estimated Value of the Contract = ((Total number of Slots x 2.2 Wages x 12%) + (Total number of other games x rates in article 34 of Law 643 of 2001)) x 1.01 x Total Number of Months of Contract left
These formulas apply both for premises whose main commercial activity is gambling, or different.
