FIJMA receives institutional visit from Panama on the occasion of the organization of the 7th Ibero-American Gaming Summit

The delegation, composed by Manuel Sánchez, Executive Secretary, Guillermo Reyes, Administrative Coordinator, Benito Fisher, president of the National Racing Commission and J. Paniza Panote, Chief of Protocol, all executives of the Panama Gaming Control Board, attended the FIJMA 2023 international gaming fair held in Madrid on February 21, 22 and 23 in the Spanish capital. 

The authorities of the Gaming Control Board of Panama took advantage of their visit to establish bilateral meetings in both the public and private spheres. Among the meetings held were those with executives of Recreativos Franco, Zitro, Cirsa, Codere, Ciudad de Ceuta and FBM, among others. 

Events of these characteristics contribute to promote advances in the industry through a regulation that covers the new gaming and gambling modalities currently existing. The pandemic has been an enormous test for the productive fabric of the economy, also in the gaming industry where in many countries it is linked to the tourism sector. Companies and governments have become aware of the importance of innovation and digitalization to move forward. 

Online gambling has undergone an unquestionable development in recent years, obtaining great acceptance in countries such as Colombia or Spain, whose law in this regard has just completed 10 years in force. The Panamanian administration decided to legislate online gambling in 2020 in the middle of the global pandemic, in order to favor users, open the market to the world of online gambling and be more competitive. It is not in vain that this country has the dollar as its currency, an admirable geographical position, a banking system and a regulation that aspires to attract foreign investors in search of new horizons and safe markets. 

Panama's political and social stability and the dynamism of its economy contribute to guarantee the legal security of foreign investments in a country with a strategic geolocation in America.