A new option of games of luck and chance arrived in Panama, with an investment of more than US$7 million, is the Insta Games game, in the instant game mode, where through a game card buyers have options to win quickly, from US$1.00 to US$50,000.00.
According to the Director General of the Game Control Board (JCJ), Manuel Sánchez, the Panamanian company JOC Cards S.A., which will be in charge of operating this game, is the first instant gambling company that will be regulated and supervised by the JCJ.
He added that the operation of this new game will generate more than 2,000 jobs throughout the country and will provide the State with 10% of gross profits, funds that are key for the National Government to develop social and infrastructure works for the benefit of all Panamanians.
“Insta Games is a new option that drives the private sector and regulated by the CJJ, and from the CJJ we recognize the effort and commitment of JOC Cards to comply with the requirements of having an operating license and promoting the growth plan at the national level for the benefit of players, for the generation of jobs and the activation of the economy,” Sánchez said.
For his part, Fernando Paes Afonso, Executive Director of JOC Cards S.A., indicated that Insta Games cards are an innovative proposal in the scratch card or instant games market, which complements the offer in the gambling sector in Panama and the only one where non-awarded cards offer another opportunity to win with the same card, if it has not been awarded.
“We and our allies in the more than 1000 authorized points of sale are committed to the development of this new offer for everyone’s fun and entertainment, in addition to being an offer with high payout, and this means that our customers have more opportunities to win because the percentage of capital that goes to prizes is between 61% and 65%, depending on the card,” Paes Afonso explained.
Paes Afonso added that this new game is an ally of the Panamanian financial system, which works to strengthen the prevention of money laundering and achieve exclusion from the Gray List of the Financial Action Task Force (FATF) as soon as possible.
Insta Games has a license granted by the JCJ, is operated by JOC Cards S.A., a Panamanian company that has opted for the country, and has the support of Phoenix, a solid group of investors and managers recognized worldwide in the gambling industry.