😱 Panama🇵🇦: Codere🇪🇸 launches international arbitration and accuses authorities of favoring unfair competition

😱 Panama🇵🇦: Codere🇪🇸 launches international arbitration and accuses authorities of favoring unfair competition

The gambling operator referred to the “Agreement on the Promotion and Protection of Investments” signed between Spain and Panama, accusing the Panamanian side of promoting unfair competition and biased treatment by authorities.

⭐️ Codere claims that the regulator authorized the operation of Type A slot machine halls, which it argues is incompatible with Panamanian legislation (referring to a ruling by the Third Chamber of the Supreme Court of Panama, which prohibits this type of gambling activity). The company attributes the resulting regulatory asymmetry to the Gambling Control Commission (JCJ).

⭐️ Codere currently operates in Panama within the land-based casino segment, as well as through online platforms, offering betting, slot machines, and poker services, among others.

⭐️ Following the formal notification, the parties have entered the consultation and negotiation period provided for under international investment protection mechanisms. This stage is intended to allow both sides to reach an amicable settlement before the dispute proceeds to a formal arbitration phase. Codere stated that it remains willing to engage in constructive dialogue with the authorities.

⭐️ Legal framework: at the end of May 2026, the country adopted Law No. 527, aimed at combating gambling addiction in both physical establishments and digital platforms.

➖ The law requires licensed operators to implement biometric identity and age verification systems, while also providing players with responsible gambling tools, including voluntary spending and time limits, as well as warnings about gambling-related risks.

➖ It also expands the powers of the JCJ to take action against operators functioning without authorization. The regulator is empowered to order the blocking of websites, applications, and unlicensed platforms, as well as conduct periodic audits. The Executive Branch must develop implementing regulations within 6 months.

⭐️ Context: Panama’s population is 3,661,868 people, with a GDP per capita of 16,038 USD.

#news #Panama #Europe #gambling

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