Unión Transitoria de Empresas (UTE)

Definition

A contractual joint venture under Argentine law through which two or more companies pursue a specific undertaking without forming a new corporate entity. In gambling it matters because the Buenos Aires Province online licensing tender required bidders to present as a UTE pairing international operating experience with an Argentine company, which made the local partner an entry condition rather than a commercial choice. The regulator still publishes the resulting register of aspirant licensees: sixteen consortia competed for seven licences, almost all of them an Argentine land-based bingo or casino operator joined to an international platform. The City of Buenos Aires framework, by contrast, admitted foreign companies directly.