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Panama Licenses Novomatic Subsidiary

The Panama Gaming Board, or Junta de Control de Juegos, has officially licensed the recently created Novomatic subsidiary Novo Panamá as a provider of slot machines and systems to the Panamanian market. Novo Panamá Managing Director José Teng said, “Our entire team is determined and eager to grow and to become the best gaming supplier in the country. And we have had an excellent start. It has been only four months since the opening of our offices and we have already sold a significant number of slots to leading casinos in Panama. This goes to prove that the market appreciates the Novo Panamá offering.”

Teng added the company’s objective is to improve the offering to the local gaming industry through professional local representation, timely technical assistance and expert after-sales services.

According to JCJ figures, the Panamanian gaming market currently includes around 15,000 slot machines and 200 live gaming tables, with anticipated growth potential. In 2014, total gaming revenue was $515.24 million and gaming tax revenue was $96.1 million.

The Panamanian government legalized private casinos in 1997. With a strong economy and investments in infrastructure, the nation’s gaming industry has continued to grow and today encompasses casinos, bingo halls, slot parlors, sports betting, horse racetracks and lotteries.

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