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Panama’s Cabinet approves a $3.8 million casino in the Four Points Sheraton hotel

Thursday, February 10, 2011

Panama’s Cabinet approved a contract between the Economy ministry and the Plaza Milenio company for the operation of a casino in the Four Points Sheraton hotel.

The Gaming Board has imposed a $1 million one-time royalty and a 12.5% cut for the government.

Plaza Milenio invested $30 million in the hotel and $3.8 million on the casino. Panama now has 16 casinos.

Original source (in Spanish): La Prensa