Young Law Firm provides comprehensive legal advisory for the gaming industry: casinos, internet gaming, operators and entertainment. Our founder served as Director of the Gaming Control Board of the Republic of Panama.
Young Law Firm provides a broad range of legal services including gaming such as casino, internet gaming, gaming operators, and entertainment industries. We maintain an active participation in different professional associations and groups, nationally and internationally, in the different areas of the law.
We participate in national and international seminars and conferences, with a view toward not only reinforcing the relationship of our firm with organizations, colleagues and professionals of different countries but also to keep ourselves updated with new trends in our areas of practice.
February 14, 2003 — General gaming regulations
August 28, 2003 — Bingo operations regulation
August 28, 2003 — Anti-money laundering in the gaming industry
August 28, 2003 — Approval, manufacturing and distribution of slot machines
Panama is the most important financial center in Central America and the Caribbean, and a strategic destination for the gaming industry.
Since 1998, the gaming industry was privatized and the government has enacted several gaming laws and regulations that have made Panama the ideal place for the gaming industry.
Panama is the landing point of several fiber optic sub-marine cable systems, guaranteeing top-tier connectivity for online gaming operations.
The U.S. dollar is used as legal tender, with a tax-free environment, and Panama is the main distribution center for commercial products and merchandise to Central and South America.
The Gaming Control Board, which is a dependency of the Ministry of Economics and Finance, is the governmental authority in charge of granting the gaming authorization.
In order to obtain the gaming authorization or to obtain the permission to manufacture, distribute and provide slot machines, games appliances or related equipment, it is necessary to file before the Gaming Control Board an application accompanied by the following documents:
To import slot machines and programs, it is necessary to submit before the Gaming Board the following documents:
Once these steps have been fulfilled, the Director of the Gaming Control Board will deliver a note to the Customs Director giving his authorization for the importation of the slot machines or programs.
It is possible to obtain a permission to rebuild slot machines. In order to proceed accordingly, it is necessary to record the company before the Gaming Control Board submitting the following documents:
The slot machine must bear an inscription stating the name, registration number granted by the Gaming Control Board and the date under which the rebuilding took place. In the event that another person other than the manufacturer effectuates the rebuilding, this situation must be expressly stated in the inscription.
With over 30 years of experience and deep regulatory knowledge, we are your best ally in Panama's gaming industry.