Casino Panama Online
Panama is one of the smaller licensing jurisdictions for
online gambling, but there are a few recognizable brands that
call it home. It’s an attractive place to launch an operation
due to minimal governmental interference and a gambling-friendly
banking industry. Additionally, the country’s infrastructure is
modern and well-maintained in urban areas.
Panama became a licensing jurisdiction in 2002 with the
passage of the Online Gaming Act of 2002. The first license was
issued in 2003 and Panama has remained in the business ever
since. The Junta de Control de Juegos (Gaming Control Board) is
responsible for issuing licenses and monitoring the operations
of all licensed gambling sites.
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Licensing Process and Fees
Anyone interested in hosting a gaming company in Panama must
submit an application and open the business for inspection for
as long as it remains in business. The initial inspection
includes a criminal background check, business processes
analysis, and testing of the “fairness” of all games of chance.
Once approved, the operator is given a “master’s license.”
Master license holders may grant sub-licenses to other operators
in certain circumstances. License holders must also keep enough
cash on hand to honor all obligations. All financial
transactions must be recorded and available for review at any
time.
- Application and first year: $40,000
- Yearly fee after first year: $20,000
- Sublicense yearly fee: $20,000
Is a Gambling License From Panama a Reliable Indicator of
Quality?
So you have an online casino in mind and you see it’s
licensed in Panama. Does that mean anything? Based on past
events, we would have to say no. There are both good and bad
sites licensed by the local authority. You would be
better-served judging any operators by their individual track
records rather than their licensing status in Panama.
For example, one of our favorite all-around gambling sites
(BetOnline) is based out of Panama. However, the reason we like
BetOnline has nothing to do with the fact that they have a
license from Panama. We like them because they take care of
players, process withdrawals, and run an ethical business.
Panama Casino Hotel
On the other hand, the Gaming Control Board still lists
UltimateBet.com as an active licensee. If you’re not familiar
with Ultimate Bet, they collapsed several years ago after
suffering from a major cheating scandal perpetrated by employees
of the site. This all went down in 2011 so it’s kind of sad to
see UB still listed as a licensed poker room.
We would say that a license from Panama simply means the
gambling site chose to base its operations there. They have the
blessing of the government to host real money games and were
able to pass the initial licensing process. The license itself
offers no guarantee beyond that.
If you are interested in learning more about the online
gambling license in Panama you can visit their website or
contact them through phone or email. Below we have listed out
all of this information for your convenience in case you are
looking for more information.
- Website: http://www.mef.gob.pa/
- E-Mail:[email protected]
- Phone: (+507) 507-7600
Openly loved and distinctively different, Panama is one of those unique nations. The nation has an accomplishment of human engineering that makes an essential shipping course by connecting the Atlantic and Pacific oceans. Also, the nation is on the isthmus connecting South and Central of America. In the capital city, tourists find colonial buildings, the rainforest of Natural Metropolitan Park, nightclubs, and — most importantly — casinos ultimately appealing.
History of Casinos in Panama
The earliest account of Panamanian history dates back to about 2500 BC, featuring Paleo-Indians and the Monagrillo culture. However, Panama was part of the New Granada that gained freedom from Spain in 1819. Panama was, at the time, in union with Peru or, more accurately, Central America. It was not until 1821 that Panama declared herself independent of the Central American isthmus. In 1903, Panama declared an ultimate independence of Colombia.
Despite the full account of Panama’s pre-Columbian and Spanish history, Panamanian gambling history is not so recorded. The earliest record of gambling in Panama was in the 20th century. At the time, only the government provided casinos and gambling activities.
In 1997, Panama included gambling as a division of her tourism industry. That was when gambling activities and facilities received full and proper legalization in Panama, allowing businesspeople to invest in the country’s gambling scene. Even so, the law instructs casinos to have their operating spaces in first-rate hotels with at least 300 rooms.
The then-present Panama government passed this rule to help reinforce the country’s main revenue-generating industry: tourism. With the help of the rule, Panama currently features more than 20 first-rate hotels throughout the length and breadth of the country. As of 2017 — just 20 years after the rule was passed, more than 5,000 hotel rooms have been constructed.
Meanwhile, the Panama Tourism Authority and the Panama Chamber of Tourism works with casino operators who are members of ASAJA (the Association of Gambling Administrators) to promote casinos and gambling within and outside the country. It is perfectly safe to say Panama highly prioritise gambling and generate reasonable annual revenues from gambling activities and facilities.
Panamanian natives, residents and tourists enjoy a wide range of gambling activities and facilities in Panama. In fact, all forms of gambling are flawlessly legal, licensed and regulated in this Central American country. The nation is swarmed with facilities that offer its customers a protected and agreeable condition with cutting-edge gaming machines and table games.
Current Gambling Climate
As mentioned earlier, gambling and all of its activities and facilities are legal in Panama. The nation understands the high amount of revenue it is generating from this tourism division, so gambling is a norm in Panama. There is a total of 69 gambling facilities fully operational, offering an array of activities, gaming machines and table games
Panama offers one of the most friendly environments for gambling and tourism. Similar to most Central American countries and Caribbean territories, Panama has a warm, welcoming atmosphere — especially for tourists who like to enjoy a variety of tourism activities (such as gambling).
Casinos in Panama by Area
Panama City Panama Casino Hotels
Most casinos in Panama are located in Panama City. There are more than 30 gambling facilities, 179+ table games, and 6,804+ gaming machines. The city is apparently the gambling jurisdiction of Panama.
The biggest casino in Panama City is Veneto Wyndham Grand Hotel & Casino, with six poker tables, 40 table games, and 600 gaming machines. The second in line is the Panama Princess Casino, with almost 500 options. In addition to Panama City, there are 10 more cities with gambling facilities. Other cities with a noticeable amount of gambling activities are Colón, David, La Chorrera, Albrook, Santiago de Veraguas, and Tocumen.
Types of Casinos in Panama
As discussed earlier, all forms of gambling activities and facilities are legal. Panama has 68 casinos and a horse racing racino — Hipódromo Presidente Remón — located in Panama City, Panama. The racino provides racing and sports wagers on Thursday, Saturday and Sunday, and slots 24/7.
Furthermore, most of the casinos in Panama are more slot parlours than casinos, despite them being a part of big hotels. Most of them just offer a massive number of slot machines without a single table game or games like blackjack, roulette, craps, baccarat, Canal 21, and Casino Hold ’em. However, other gambling activities such as pari-mutual betting, bingo, poker, sports betting, horse racing, lottery and online gambling are readily available in Panama.
Lottery in Panama has been monopolised by the government. The Loteria Nacional de Beneficiencia (LNB) is a national lottery fully operated by the government. Sports betting, meanwhile, is openly legal because getting sports betting service licensed and regulated in Panama is simple and straightforward.
Finally, online gambling is legal in Panama. Panamanians, residents and tourists can participate in local online gambling activities as well as foreign activities.
List of Casinos in Panama
Below is a list of all casinos currently operating in the regions of Panama.
Bingo 90 Casino
Caribe Hotel & Fantastic Casino Caribe
Casino Bolerama
Casino Coclé
Casino Rio Abajo
Casino Marvil
Continental Hotel & Casino Panama
Central Park Hotel and Golden Lion Casino
Crown Casino Colon 2000
Crown Casino Continental
Crown Casino Granada
Crown Casino Plaza Mirage
Crown Casino Sheraton
Fantastic Casino – 12 De Octubre
Fantastic Casino – 2000 Colon
Fantastic Casino – 5 de Mayo
Fantastic Casino – Aguadulce
Fantastic Casino – Albrook
Fantastic Casino – Alfaro
Fantastic Casino – Casa Miller
Fantastic Casino – Chitre
Fantastic Casino – Chorrera
Fantastic Casino – Chorrera Plaza Italia
Fantastic Casino – Colon Calle 13
Fantastic Casino – David Plaza Otiema
Fantastic Casino – Dorado
Fantastic Casino – El Dorado
Fantastic Casino – El Rey
Fantastic Casino – David Centro
Fantastic Casino – Gran Estacion
Fantastic Casino – La Dona
Fantastic Casino – La Cabima
Fantastic Casino – Los Andes
Fantastic Casino – Los Andes Mall
Fantastic Casino – Los Pueblos
Fantastic Casino – Obaldia
Fantastic Casino – Penonome
Fantastic Casino – Plaza Tocumen
Fantastic Casino – Santiago
Fantastic Casino – Terminal de Albrook
Fantastic Casino – Transistmica
Fantastic Casino – Tocumen
Fantastic Casino – Vista Alegre
Fiesta Casino – Hotel Washington Colon
Fiesta Casino Decameron
Four Points by Sheraton Hotel and Winland Casino
Golden Lion Marbella
Gran Hotel Nacional and Fiesta Casino
Gran Hotel Soloy & Fiesta Casino
Hilton Panama Hotel and Casino
Hipódromo Presidente Remón
Hotel Internacional & Fantastic Casino Internacional
Hotel La Hacienda and Thunderbird Casino
Hotel City House Soloy & Casino
Hotel Washington Colon & Crown Casino
Hotel El Panama Convention Center & Fiesta Casino
Los Guayacanes Hotel & Casino Chitre
Magic Casino Dorado
Majestic Casino Multicentro
Ocean Sun Casino
Ocean Club Casino at Trump International Hotel & Tower Panama
Royal Casino at the Marriott
Veneto Wyndham Grand Hotel and Casino
Panama Princess Casino
Radisson Colon 2,000 Hotel & Casino
Royal Decameron Resort & Casino
Sheraton Grand Panama Casino
Sortis Hotel Spa & Casino
Princess Casino
Facts About Casinos in Panama
Casino In Panama City
– The legal gambling age in Panama is 18 years, similar to other countries.
– The casino must be located in a hotel with 300 or more rooms, and 24-hour guest service. These are the two requirements for any casino, according to the ASAJA.
– In 2017, revenue from gambling dropped from $6.6 million to $6.2 million when compared to 2016. These figures are contributions from January to August of both years.
– In Panama, gambling “should always be seen as a form of fun that allows people to distract themselves in a healthy way.”
– According to Newsroom Panama, Panama profited a whopping $1.6 billion from 2001 to 2011.
– The Association of Gambling Administrators is a department of the Ministry of Economy and Finance.
– Although not yet live, the Loteria Nacional de Beneficiencia partnered with Scientific Games in 2014 to launch the first online lottery provider in Panama.
– Canal 21 is a variant of blackjack while Casino Hold ’em is a variant of Texas Hold ’em. Meanwhile, most other casinos except the Crown casinos call Canal 21 the name of their casino followed by 21. For example, Fantastic Casino calls it Fantastic 21.