Tuesday, July 17, 2012

Panamanian Government Approves the Type “C” Slot Machines Regulation

By Carlos A. Fonseca Sarmiento (Varela & Fonseca Abogados)

Through Resolution No 51 published on June 26, 2012, in the Official Gazette, the Gaming Control Board of Panama approved the Regulation for the operation of type “C” slot machines.

According to the Panamanian legislation, to qualify as type “C” slot machines, the maximum bet cannot exceed $3 and the maximum prize cannot exceed $200. Every person interested in obtaining a gaming license must have two years of experience in the gaming industry. An operator of type “C” slot machines will pay $150 a month for each machine that is installed. These machines can be installed in slot parlors with a maximum of 50 machines, unless the operator obtains a special authorization to operate up to 75 machines. But they can also be operated in bars, in which case the maximum number is 15 machines.