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PANAMA - REVENUES SLUMP BY 17.2 PER CENT Gaming income generated for the state is down by 17.2 per- cent in Panama going down by U.S$1.4m in October com- pared to the previous month. According to statistics released by the Ministry of Economy and Finance, in October gaming revenue generated by the industry for the government stood at around US$6.8 while in September it stood at U.S$8.3m. According to the report, Type 3 slot machines (classified as Type A slot machines in Panamanian gaming law) generated US$3.4m for the state. This was followed by tax revenue generated in casinos which stood at around US$2m. Meanwhile tax gaming revenue for Type C machines stood at around US$1m. Categorised as Type C in Panamanian gam- ing law, type C slot machines may only pay a maximum of US$200 per machine in prizes.
According to the president of the Association of Managers of Gaming (ASAJA), Antonio Alfaro, the decline in revenues could, however, simply be down to the fact that January, March and August are the busiest times for the casino indus- try due to the higher influx of tourists during these months. In addition local insiders say that revenue in casinos are down due to the rapid growth of slot parlors in the country - an issue that could well be addressed by the government in the near future.
According to statistics released by the ASAJA there are 7,300 slot machines in slot parlors in Panama and 5,400 slot machines located in casinos. While the most recent statis- tics may not be that troubling, as reported in November rev- enues across some sectors is on the decrease for the first time in ten years according to statistics released by the Panamanian Gaming Control Board (JCJ). According to the JCJ a total of U.S$129m was bet in the first six months of this year compared to U.S$147m in the same period in 2013. All the same Panama has been a bright spot for the industry for some years.
PARAGUAY - GLI RECEIVE PARAGUAY ACCREDITATION Further strengthening its reach in Latin America, Gaming Laboratories International (GLI) has been granted registration as a laboratory that conducts testing and certification servic- es in Paraguay. The registration was granted by the National Gaming Commission (CONAJZAR), the gaming and lottery regulator in Paraguay, and covers devices and systems for gaming and lottery.
GLI has been very active and supportive of regulators and suppliers throughout Latin America and the Caribbean for more than 16 years, and this new accreditation in Paraguay further strengthens the company’s position in the region.
“We are proud to be recognized by CONAJZAR by authorizing our registration as a lab in the jurisdiction. We are thankful to the regulator for the trust that this recognition means,” said GLI Director of Latin American Development Karen Sierra- Hughes.
“GLI continues to be the leader in the Latin American and Caribbean Region. We do this in part by being ready to fulfill all requirements set forth by regulators to establish the tech- nical compliance process, and by complying in a timely and efficient manner with the laboratory registration process. In addition to regulatory support, suppliers will be able to reach out to GLI for their testing and certification needs for this exciting jurisdiction,” Sierra-Hughes added.
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LAW CHANGES HAILED BY INDUSTRY
The government of Puerto Rico has made sweeping changes to its horse racing legislation that has met with approval
Puerto Rico - Legislation
The Puerto Rican Senate has approved a signifi- cant amendment to its Horse Racing Laws. The Amendment has been welcomed by local industry experts who say that that the new amendment will bring a new lease of life to the industry, which has suffered a number of serious setbacks over recent years. The Senate voted in favour of the new bill by 27 votes to 21 with two absentee votes. The amendment now only needs to be signed by governor of the Governor of Puerto Rico Alejandro García Padilla before going info force.
The bill went through several changes as it went through its draft stages with Senators finally agreeing to reduce taxation imposed on bets from 10.54 percent to 4 percent. The new law also cre- ates a new fund which will be destined for pro- moting thoroughbred breeding and acquisition programs for thoroughbreds so that races in the future are more attractive to fans.
President of the largest racetrack in Puerto Rico Ervin Rodriguez Velez welcomed the new move and thanked Senators for, “the sensitivity with which they endeavoured to address the socio- economic problems the sport-industry faces for the first time in many years.”
Mr. Velez went onto say that the amendments to the law marks a major change to the industry and will signify, what is hoped, a major reversal in the decline in tax revenue for the Government gener-
ated by the racing industry.
“The current economic situation has resulted in layoffs within the horse racing industry and reduced working hours,” Mr. Velez said. “It has reduced the number of races, the number of bet- ting outlets and the total of registered horses, which has negatively affected the dynamics of the sport and its appeal as a game of chance.”
The crisis has been especially acute for the horse racing industry due to the rise of casino gaming and illegal gaming on the island. The crisis has caused government revenues related to horse rac- ing alone to have decreased from US$ 31.4m in 2005 to about $13.2m in 2013.
Local experts had predicted that the industry would continue to decline if the government did not move to quickly to approve new measures. It is believed that the executive will sign the amend- ment this week and that the project will come into force within the next 60 days.
Revenues for Chilean casinos up by over seventeen per cent
MEXICO Revenues continue to increase in Chile. According to statistics released by The Chilean Gaming Control Board (SCJ) gross gaming revenues for the 16 casinos oper- ating in Chile stood at US$38.5m in October a 17.8 percent increase compared to the previous month. The 16 municipalities and 11 regions where the casinos are located received a total of US$6.4m in gaming tax revenue while casinos generated an addi- tional US$2.2m in tax on entrance fees for the state. On top of this amount the casinos also generated US$6.1m in VAT.
In terms of gross gaming income generated by the casinos, the Monticello Grand Casino came in first place with 27 per cent (US$6.128m). In second place came Casino Rinconada with 15.5
percent or US$3.524m of market share. Meanwhile, in third place was Marina del Sol with 12.1 per- cent - a US$2.750m share of the market. This was followed by Enjoy Antofagasta 9.3 percent (US$ 2.104m), Dreams Temuco 6.6 percent (US$1.490m), Dreams Punta Arenas 5.0 percent (US$ 1.126m), Casino Sol Calama 4.7 percent ($1.076m), Dreams Valdivia 3.8 percent (US$854m), Gran Casino de Talca 3.7 percent (US$839m), Antay Casino & Hotel 2.8 percent (US$632m), Casino Sol Osorno 2.1 percent (US$486m), Casino Gran Los Ángeles 1.8 percent (US$405m), Casino de Colchagua 1.7 percent (US$394m), Casino de Juegos del Pacífico 1.7 percent (U.S$381m), Dreams Coyhaique 1.3 percent (US$294m) and finally Enjoy Chiloé 0.9 percent (US$211m).
According to the latest statistics
released by the SJC, the 9,635 slot machines in operation in October handed out an average of 93.9 per cent of the stake. While the total bets made on slot machines stood at $503.6 m the prizes handed out stood $472.9m leav- ing a total win for the casinos of US$30.m.
As revenues increase the casino industry in Chile is set to contin- ue to expand with the municipal casinos now scheduled to come under the control of the Gaming Control Board in two years time. According to the terms of Chile’s 2005 act, the eight casinos that were already licensed before 2005 were set to come under the supervision of the Chilean Gaming Control Board at the end of next year, and the tax would be split equally between the local municipality and the central gov- ernment. However agreement has been reached whereby the casinos, which were already licensed before the new act, now have an additional two years before their licences expire.
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