BLANDON & YOUNG 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. Our firm offers a wide variety of legal services to its national and foreign clients. We participate in national and international seminars and conferences, with a view toward not only reinforcing the relationship or our firm with organizations, colleagues and professionals of different countries but also to help us dated ourselves with new trends in our areas of practice. Additionally, the founders of the firm have actively participated in the drafting and discussion of new laws and have held important public positions. During the administration of Herbert Young as Director of the Gaming Control Board of the Republic of Panama, important advances and laws regulations were enacted such as: Resolution No. 9 of February 14, 2003, Resolution No. 25 of August 28, 2003 that regulates Bingo operations, Resolutions No 29 and No. 39 of August 28, 2003 to avoid money laundering using in the gaming industry, Resolution No. 40 of August 28, 2003 that regulates the approval, manufacturing and distribution of slot machines, among others. Therefore, we are in position to offer our professional services to clients and to companies engaged in this kind and all nature of activities.
Panama is the most important financial center in Central America and the Caribbean. Since 1998, the gaming industry was privatized and the government has enacted several gaming laws and regulations that has made Panama the ideal place for the gaming industry.
Panama is the landing point of several fiber optic sub-marine cable systems, it has a tax free environment, the U.S. dollar is used as legal tender in our country, and it is the main distribution center for commercial products and merchandise to Central and South America.
B. Gaming Authorization:
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 is necessary to file before the Gaming Control Board an application accompanied by the following documents:
Name of the applicant.
C. Import authorization
On the other hand, to import slot machines and programs, it is necessary to submit before the Gaming Board the following documents:
Original of the Import duties clearance issued by the Custom Department
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.
D. Authorization for rebuilding Slot Machines:
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:
Name, nationality, place of business, legal domicile, and name of the
legal representative of the company manufacturer that rebuilds the slot
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 expressly
stated in the inscription.