Panama- Novomatic licensed to thrill in PanamaBy Phil - 3 November 2015
Novomatic has been officially licensed to sell slots in Panama via its local representative company Novo Panamá.
Novomatic said it will now be able to ‘strengthen its position in the Panamanian gaming market and significantly increase its current market share in the slot segment.’ Well in advance of the official start up the Novomatic brand had already created a demand for itself among the country’s major operators, meaning that the company started operational business with a list of orders already pending.
Under the leadership of Managing Director José Teng, who has acquired extensive experience in the Latin American gaming industry, Novo Panamá will increase its footprint in the local market, offering excellent local sales services, technical support and spare parts provision as well as product analysis and a strong customer relationship management directly on site.
José Teng is positive that the local operators appreciate the company’s commitment to first class product, service and support: “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.”
Since the country’s government privatised casinos in 1997, Panama has become a hotspot of the Central American casino industry and is even called by some the ‘Las Vegas of Central America’. The country’s strong economic performance and determined investments in infrastructure development have helped the gaming industry generate significant growth during recent years. Today the local gaming landscape boasts a strong and broad based gaming entertainment offering, that ranges from casino gaming to bingo halls, slot parlors, sports betting, horse racetracks and lotteries.
According to the latest statistics released by the JCJ the Panamanian gaming market currently includes some 15,000 slot machines and 200 live gaming tables with further potential for growth. Official figures for the year 2014 state total gaming revenues of US$515.24m and gaming tax revenues amounting to US$96.1m.