The local press in Panama reports that betting in casinos, slots halls, racetrack and lottery has produced revenue of over US$1.1 billion in the year to September 2008, a rise of 19% over the same period last year. This Central American country, with 14 casinos and 28 slots halls, has one of the most dynamic gaming sectors in the Latin American market.

President of the gaming operators' association ASAJA, Antonio Alfaro, says the increase in gaming revenue in Panama is a consequence of rising tourist numbers. "Our country offers a casino industry matching global standards." With high-end casinos such as the Veneto and Fiesta in the financial centre of the city, Panama has become a gaming destination for Latin American visitors who do not have access to the United States and gambling centres such as Las Vegas.

Gaming operators in Panama registered US$568.2 million in slot machine revenue and US$202.9 million in tables' revenue, growth of 23% and 13% respectively. Sports betting increased 25% to US$21.7 million and horseracing wagers were up 11% to US$22.1 million. Lottery betting reached US$360.2 million, an increase of 17% on the previous year. (E-11.12.08)

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