Panama: Gaming sees almost 15% growth through September 2024

The National Institute of Statistics and Censuses (INEC) of the General Comptroller's Office of Panama informed in its last report that betting and gambling, both physical and online, generated $1,931 million from January to September of this year, which represents an increase of 14.7% when compared to the same period of 2023 when a total of $1,684 million was registered.

INEC data include sales generated in leisure activities including racetracks, bingo halls, gaming tables, type “A” slot machines, sports betting, games of luck and chance through the Internet, in addition to the sale of tickets and chances of the National Charity Lottery (LNB).

According to the report, the vertical that registered the highest growth was online gaming, with an increase of 48.1% compared to 2023. The total reached $240 million as of September 2024.

On the other hand, type “A” slot machines continue to lead gambling activities for people over 18 years old with a total of $1,549 million, that is, a year-on-year increase of 12.1% compared to 2023.

Meanwhile, sports betting contributed $15.5 million, which represents a 20.3% increase over the same period last year.

As for LNB's chances and tickets, gross lottery sales and revenues climbed to $623 million, a 5.7% increase compared to September 2023.

Lastly, gaming tables totaled $97.7 million in gross bets, up 2.6% compared to the first nine months of last year.

On the other hand, two verticals registered a drop according to INEC's report: the racetrack segment registered up to September $23.2 million, down 11% compared to the previous year; while in the bingo halls vertical, the total gross bets were $4.7 million, a drop of 17.1% compared to 2023.