The Junta de Control de Juegos (JCJ) is a governmental authority in Panama responsible for overseeing and regulating gambling activities within the country. Established to ensure transparency and legality within the gambling industry, this organisation plays a crucial role in the development of Panama’s entertainment sector.
Historical Development
The JCJ was established by Decree Law No. 19 on 8th of May 1947 and operates under the Ministry of Economy and Finance of Panama. Its primary responsibility is to oversee, supervise, and regulate all forms of gambling, including casinos, slot machines, sports betting, and lotteries. A significant aspect of its work also involves combating illegal gambling activities.
Licensing System
Ventura Vega. Executive Secretary of the Gaming Control Board.In the licensing sphere, the JCJ has established a stringent system of requirements for operators. Every casino or gambling establishment seeking to operate in Panama must undergo a thorough vetting process. This procedure includes an analysis of the financial stability of the company, an assessment of the reputation of its owners and management, as well as an evaluation of the technical equipment and security measures in place.
Financial Control
Particular emphasis is placed on financial oversight. The regulator has implemented advanced systems for tracking cash flows, enabling effective countermeasures against money laundering within gambling establishments. Every transaction exceeding a specified threshold is subject to mandatory scrutiny.
Protection of the Rights of Players
Safeguarding the rights of players is one of the paramount focuses of JCJ’s work. The regulator has established clear guidelines for the operation of casinos, encompassing standards for the fairness of gambling, transparency of payouts, and the handling of customer complaints. A self-exclusion system has been implemented for players struggling with gambling addiction.
Requirements for Operators.
Main requirements for the operators of gambling businesses in Panama:
- Minimum statutory capital
- Implementation of security and surveillance systems
- Regular financial reports
- Responsible gaming programmes
- Staff training
- Anti-money laundering systems
Technical Standards
In the realm of technical regulation, JCJ has established rigorous standards for gaming equipment. All gaming machines and software must undergo mandatory certification. The regulator collaborates with international laboratories to test the equipment and ensure its compliance with global quality and safety standards.
The Gaming Control Board (JCJ) of Panama has announced that, starting from 24 June 2024, it will implement automatic approval of preliminary import declarations pertaining to casino goods and games of chance.
Combatting Illegal Gambling
The fight against illegal gambling remains a significant challenge for the regulator. The JCJ conducts regular inspections and raids, uncovering illicit gambling establishments. The organisation collaborates closely with law enforcement agencies to curtail unlawful activities within the gambling sector.
Economic Effect
The economic impact of the regulator on the country’s development is quite substantial. Through effective oversight and transparent operational guidelines, Panama’s gambling sector attracts major international operators. This not only generates new employment opportunities but also ensures significant tax revenues for the national budget.
In 2019, the Casino Association and the Gambling Control Board (JCJ) of the Ministry of Economy and Finance (MEF) convened a meeting to facilitate sports betting companies’ access to banking accounts.
Penalty System
Penal sanctions for violations of operational regulations:
- Monetary fines of varying amounts
- Suspension of the licence
- Complete revocation of the operational permit
- Confiscation of equipment
- Criminal liability for serious infringements
International Cooperation
JCJ is actively engaged in international collaboration, exchanging expertise with regulators from other countries. The organisation regularly sends its representatives to international conferences and seminars focused on the regulation of gambling.
Regulation of Online Gambling
The Gaming Control Board (JCJ) of the Ministry of Economy and Finance (MEF) has joined forces with the Superintendency of Non-Financial Entities (SSNF) and the Financial Analysis Group (UAF) in combatting money laundering, the financing of terrorism, and the proliferation of weapons of mass destruction through a training initiative entitled: “Mitigating Risks within the Gaming Control Board.”
In recent years, the regulator has devoted significant attention to the advancement of online gambling. Specific requirements have been formulated for online casinos, incorporating technical standards, measures for the protection of player data as well as strategies to combat fraud.
Responsibility and Development
Social responsibility remains a crucial aspect of JCJ’s operations. The regulator mandates that operators implement responsible gaming programmes, including measures to prevent underage access to gambling and support for players exhibiting signs of addiction.
The technological advancement of the industry is under continual scrutiny by the regulator. JCJ monitors the integration of new technologies within the gambling sector, ensuring a balance between innovation and player safety.
Human Resources Policy
A significant focus of our work is the training of qualified personnel for the gambling industry. JCJ organises educational programmes for casino staff, which include courses on identifying problematic player behaviour and combating fraud. However, even employees of such a reputable organisation sometimes encounter difficulties and are compelled to insist on the disbursement of their honestly earned wages…
Representatives of the Gambling Control Board are asserting their entitlement to the performance-related bonus.
Transparency of Operations
The transparency of the regulator’s operations is ensured through the systematic publication of activity reports, including statistics on inspections, identified violations, and measures undertaken. This enables the public to monitor the effectiveness of the organisation’s work.
The Gambling Control Board and the equestrian guilds have reached an agreement.
Panama, 4th May 2023. Horse racing at the “Presidente Remón” racetrack will not be disrupted, stated Manuel Sanchez, the Executive Secretary of the Gambling Control Board (JCJ).
Development Prospects
In the long term, the JCJ plans to further enhance the regulatory system, including the implementation of new monitoring technologies, the expansion of international cooperation, and the strengthening of measures to protect players’ rights.
Conclusion
Thus, the Junta de Control de Juegos plays a pivotal role in the development of Panama’s gaming industry, ensuring a balance between the economic efficiency of the sector and the protection of public interests. Through the regulator’s efforts, the Panamanian gambling sector is evolving in accordance with international standards, attracting investment and creating new opportunities for the country’s economic growth.
