Spanish gaming operator Codere has initiated an international investment arbitration process against the Republic of Panama over a dispute with the country’s gaming regulator, the Junta de Control de Juegos (JCJ), concerning the operation of competing gaming halls.
The claim, brought through its regional subsidiary Codere América, is based on the Agreement on the Promotion and Protection of Investments between Spain and Panama. The notification triggers a consultation and negotiation period between the parties before the case can move to a full arbitral hearing.
In its notice, Codere alleges that the JCJ has acted arbitrarily and has allowed the illegal operation of competing gaming halls, particularly venues offering type A slot machines that the company considers not to be compliant with the existing legal framework. The operator also claims that the regulator has failed to give effect to a ruling by the Third Chamber of the Supreme Court of Justice, which had declared certain newly authorised type A slot machine halls unlawful.
According to Codere, the continued operation of these venues has affected the competitive conditions in the market and reduced the value of its investment in Panama, including the racetrack and the Crown Casinos brand. The company argues that these actions are incompatible with the protections afforded to Spanish investors under the bilateral investment treaty.
The JCJ is the public authority responsible for licensing, regulating and supervising games of chance in Panama, including casinos, bingo, raffles and online betting. Panamanian authorities have not yet issued detailed public statements on the allegations, beyond acknowledging receipt of Codere’s notice and the opening of the consultation phase.
If the parties do not reach an agreement during the negotiation period, the dispute is expected to proceed to international arbitration. The case will be monitored by gaming and legal stakeholders as part of a wider trend of treaty‑based claims involving foreign investors and regulatory decisions in Latin America’s gambling sector.
Codere Panamá offers a full portfolio of retail and online gaming, which includes sports betting, traditional and live casino games, table games, poker, slot machines, and sic bo. Since October 4, 2005, Codere’s subsidiary, Hípica de Panamá S.A., has officially held the concession to manage and operate the Hipódromo Presidente Remón racetrack. Codere Panama’s operations are primarily focused on casinos. Crown Casinos began operations in 1998, although Codere took over its management seven years later. Currently, it operates twelve casinos nationwide, including the El Panamá and Sheraton.
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Spanish gaming operator Codere has initiated an international investment arbitration process against the Republic of Panama over a dispute with the country’s gaming regulator, the Junta de Control de Juegos (JCJ), concerning the operation of competing gaming halls. The claim, brought through its regional subsidiary Codere América, is based on the Agreement on the Promotion…
The post Codere files investment arbitration against Panama over gaming halls dispute appeared first on G3 Newswire.