South America Round up

In March, Paraguay’s gaming regulator, Comisión Nacional del Juegos de Azar (Conajzar), recorded the highest ever amount of gaming tax revenue in a single month. According to data from the regulator, tax revenues totalled PYG12.3bn (E1.9m) in March 2016, up 38 per cent on the PYG8.4bn (E1.3m) reported in March 2015 and topping the former record monthly earnings of PYG10.7bn (E1.6m) back in March 2012.

While Paraguay’s gaming industry toasts the sharp rise in revenues, GGR in Panama fell by 13.7 per cent to $362.9m (E314m) in the January to February period. According to Antonio Alfaro, president of the Asociación de Administradores de Juegos (Asaja), the drop in revenues was due to the implementation of a new a tax regime.

In the Bahamas, meanwhile, Baha Mar’s receivers have expressed optimism that a new owner for the $3.5bn (E3bn) project will be “in place” before the end of the year, with all bids due to be submitted by May 7.

Raymond Winder, managing partner of Deloitte & Touche told local reporters there was “no question” that the investor groups showing an interest in the beleaguered project had the financial and other capabilities needed to complete and open the development.