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Tuesday, June 18 2019 @ 01:45 AM UTC

Casinos Replace The Race Track for Gambling Revenue in Panama

Nightlife, Bars, and PartyingThe idea that the average Panamanian likes to gamble is confirmed by the fact that more than $1 billion dollars has been bet between January and July of this year, in the various forms of gambling. Numbers from the Comptroller's office indicate that within this period the largest share of the money was seen in the casinos, where table games and slot machines received more than $690 million dollars in bets. On the other hand is the legendary and formerly popular President Remon Racetrack, which saw bets of just $22 million dollars in the first seven months of 2010. After 54 years of existence, the race track is fighting against a great contender: the famous casinos, which can now be found in even the most remote corners of the country, many of which are open 24/7. Although the race track is trying to attract more gamblers by diversifying their services with technology and by developing promotional activities, reducing the gap that separates them from the powerful casinos will not be easy to achieve. (La Estrella)

Editor's Comment: The gambling industry in Panama continues to grow. When I first got to Panama back in 1987 all of the casinos were small, dank, smoke filled, well worn, owned and operated by the government. They were all privatized during the administration of Ernesto Perez Balladares (1994-1999). Now most of the larger casinos are practically brand new, large, modern, and making money hand over fist. Panama can't rival Las Vegas, but casinos and gambling are an attraction that many enjoy while visiting the Republic of Panama. I like to play in Poker tournaments every now and then, and I like to play a little recreational Blackjack, when I can afford it.

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