More than 740 million dollars in bets and 580 million dollars in paid prizes were registered at casinos in Panama during the past year. Also, casinos in Panama are generating around 60 million dollars monthly, a rate much higher than 2006.

The figures of the Administrative Association of Gambling (ASAJA), revealed that the casinos in Panama have increased their earnings 15.9% monthly, which will revert in additional incomes for the Panamanian State, since 10% of these amounts belong to the State.  This approach is established by the National Casinos Concession Law which entered in effect in 1997.

About the Casinos

When referring to the casinos in Panama, it is good to establish the differences between these places of entertainment and slot machines; the casinos in Panama are those installations located in 5 star hotels that guarantee exclusivity to its clients, while the slot machine are located in less distinguished places.

According to ASAJA, more than 15 major casinos operate in Panama and around 20 Type A slot machine establishments.  To these figures we need to add the casinos that will be constructed in Panama, specifically megaprojects like Trump Ocean Club and Los Faros. 

According to experts and the regulator entities of the casinos in Panama, the national territory possesses the most developed casino industry in Latin-America, surpassed only by Argentina. The casinos in Panama have become a fundamental part of the countries Nightlife, since they are not only used as locations for placing bets, but where live orchestras are constantly being presented with national and international artists that delight the visitors.

For the ASAJA, the earnings of the casinos in Panama have increased, because the business has entered a stage of socialization and is responsible for promoting gambling, action that has as a priority the economic and mental wellbeing of the users of this service.  According to the Republic’s General Comptroller’s Department, the activity in the casinos in Panama and of the slot machine halls generates more than 3, 500 employments. 

Magnet for attracting tourism

Lucas Aleman, General Manager of Fiesta Casinos, believes that casinos in Panama are key for maintaining Panamas growth rate  but at the time stated that 80% of current casino revenue comes from native Panamanians.

The businessman emphasized, that Fiesta Casino is proud to have made that first step, since its establishment has been the site for international poker tournaments that has had the participation of the best national and international competitors. 

Due to the success of the industry casinos in Panama, hundreds of foreign investors are anxious to penetrate the market of the casinos in Panama, due to this, the rest of the government is working on new control laws that disallow that the same changes into a window for illicit activities and thusly maintaining national security.