Bets in Panama increase 8.6%

Bets in the gambling industry totaled $1.03 billion in 2008.

Monday, January 26, 2009

Prensa.com reports on its website: "This increase goes hand in hand with the increase in tourism that Panama has experienced in the last few years," said Antonio Alfaro, president of the Association of Gambling Administrators (Asaja).

More on this topic

Panama: Gambling Businesses Up 12%

March 2014

Income from companies dedicated to gambling amounted to $2.37 billion in 2013.

Enterprises engaged in gambling have seen increased profits in the last year, 2013, compared to the previous year, which also means an increase in revenue.

"In total, revenues were reported of $2.373 billion in 2013, which meant an annual increase of 12.1%, according to figures from the National Comptroller's Office.

Tax Lowering Act for Casinos

April 2012

"We are watching with amazement, how there are attempts to increase taxes on highly productive activities, while lowering rates for gambling," said Federico Humbert Arias, President of the Chamber of Commerce, Industries and Agriculture in Panama.

A statement from the Chamber of Commerce, Industries and Agriculture in Panama reads:

Costa Rica to Apply New Taxes to Casinos

July 2009

A project sponsored by the government foresees a 2% raw income tax to casinos and electronic betting operations.

The proposal will oversee operation and control of casinos and electronic betting centers.

From Nacion.com: "Jorge Hidalgo, vice president of the Costa Rican Casinos Association, said that they support more regulation, but assured that the 2% raw income tax is way too high."

Costa Rica casinos to follow new rules

April 2008

Costa Rica doesn’t want to become a gaming detsination like Las Vegas. New laws have been passed in Costa Rica that will change the way that many of the casinos will be run and ultimately prevent new casinos being built in Costa Rica as casinos begin to limit their operations in line with these rules.

Existing hotels with casinos and stand alone casinos must regulate their hours from 6pm until 2am from the current 24 hour operations many of them use right now. Many casinos in Costa Rica offer free alcohol to their customers however this must also come to a stop as well as restricting access for minors. The government has handed these businesses a 6 month deadline to bring these changes into effect.

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