Master license holders may grant sub-licenses, which are subject to the annual fee. There is also an annual license fee of USD $20,000. The regulations allow master licenses to be granted that are valid for up to seven years upon payment of a license fee of USD $40,000. Panama adopted regulations governing the licensing of electronic games of chance and wagering activities in late 2002. Panama also licenses bingo halls and gaming machines outside casinos. Most of Panamaâs casinos are the main attraction in large-scale casino resorts. The countryâs casinos were originally owned by the state, but were privatized in 1997. Gaming laws in Panama demand that gaming establishments give 80% of their profits to the government. The gaming industry in Panama is controlled by the Panama Gaming Control Board (Junta de Control de Juegos), established in 1947.

Panama is one of the biggest financial, merchant and transport centers in Latin America. It is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south.

The Republic of Panama is the southernmost country of Central America.

International online gaming laws