Panama, Colombia Report Significant Improvements in Gambling Revenue

Posted on: May 24, 2022, 08:10h. 

Last updated on: May 24, 2022, 10:10h.

Erik Gibbs Read More
Expertise: Asia Pacific Gaming, Gaming Business, Global Gaming.

Latin America continues to prove why its gambling industry deserves so much attention. Countries are seeing increases in revenue, and the latest results of Panama and Colombia are no different.

Panama City
Panama City skyline with the Panamanian flag. The country’s gambling industry continues to see substantial year-on-year gains. (Image: Pinterest)

The Comptroller of Panama just released the figures for the country’s gaming industry. From January to April, total gross bets grew 165.6% compared to the same period of the previous year. The total recorded was $431.4 million for the period.

The report indicates that the largest increase was recorded at the gaming tables, with a year-over-year improvement of 251.4%. Slot machine activity increased by 168.%, racecourses added 126.8%, and sports betting almost doubled, increasing by 93.6%.

In addition, the Comptroller’s Office reported that the gross sales of the National Charity Lottery grew by 160.6%.

More Consumer Participation in Panama

Regarding the total net bets recorded by Panama’s Gaming Control Board (GCB), the figure increased by 153.7%. Slot machines increased by 154.7% and gaming table action added 319%. This indicates that there is greater participation, not necessarily bigger wagers.

As for net bets on sporting events, they increased 104.3% and racetrack betting added 184.8%. Finally, the report indicated that the net sales of the National Charity Lottery increased by 164.7%.

In early 2022, Panama’s GCB shared last year’s gaming industry figures. That data showed that, during the period between January and November 2021, total gross bets grew 127.5% compared to the same period in 2020. Slot machine gambling added 129.4%, gaming tables added 126.1%, and sports betting increased by 103.8%.

Colombia Continues to Climb

Coljuegos, Colombia’s gambling regulator, continues to exhibit positive numbers for the gambling industry in Colombia. After the record it registered in the first quarter in the fourth month of the year, it returned to show favorable numbers.

In the month of April, Coljuegos continued to maintain record figures, according to its president, César Augusto Valencia Galiano. For the period from January to April 2022, the collection reached $236,000 million (US$59 million) for national games. This represented an increase of 20% compared to the same period of the previous year.

For the month of April alone, revenues reached COP$66 billion (US$16.5 million). Compared to the previous year, in which the industry raised COP$50.5 billion (USD12.6 million), this amount represents an increase of 31%.

Localized games – casino and bingo activity – made the largest contribution, reaching COP$98 billion (US$24.5 million). Following these was the iGaming segment, with a collection of COP$73 billion (US$18.2 million). For its part, Baloto Revancha, an online lottery offering, achieved COP$24 billion (US$6 million). At the same time, other lottery options added a total of over US$14.4 million

In turn, Coljuegos recorded that, from January to April, gross sales of national games reached COP$5 billion ($US1.25 billion). This represents growth of 71% compared to the same period last year. That total was COP$2.9 billion (US$725 million).

The territorial games, those that include the lotteries, games of chance, and the Raspa and Listo, yielded sales for the month of April 2022 of COP$266.7 million (US$67,048). This represents year-on-year growth of 30.61%.

Of this total, the lotteries contributed COP$15.392 billion (US$3.8 million), games of chance added COP$21.1 million (US$5.3 million), and the Raspa y Listo product received a COP$4.054-billion (US$1 million) boost.