The new law creates a regulatory framework for casinos, gaming/slot machines halls and establishes the creation of a governing body for the sector.
"The law states that the enforcement authority is the Nicaraguan Institute of Tourism (Intur), through a department of casinos and games to be created when the legislation comes into effect and which will be governed by the Board of Intur."
"The Special Law for the Control and Regulation of Casinos and Games Rooms prohibits the existence of slot machines or table games at places that are not established for that purpose", noted an article in Laprensa.com
"To acquire a permit to operate, these gaming halls and casinos must have a minimum of ten slots to qualify for the category ‘D ‘, one of four new categories created by the law, which will prevent the existence of such machines in grocery stores, pharmacies and bars. "
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The new law creates a regulatory framework for casinos, game houses and slot machines and will come into force in December.
Law 766 was passed last May and published in the official gazette in July, and the Nicaraguan Tourism Institute (Intur) will be responsible for its implementation.
A project sponsored by the government foresees a 2% raw income tax to casinos and electronic betting operations.
The proposal will oversee operation and control of casinos and electronic betting centers.
From Nacion.com: "Jorge Hidalgo, vice president of the Costa Rican Casinos Association, said that they support more regulation, but assured that the 2% raw income tax is way too high."
Virtual casinos operating from Costa Rica will be regulated by this proposed law.
The law regulates gambling done in the country, "independent on where the gambler is located".
Irene Vizcaíno wrote in Nacion.com: "With this clarification, the Tax Authority is rubbing its hands, as according to its data, between the Caribbean Island of Aruba and Costa Rica lies 50% of the global electronic gambling business, generating over $14 billion a year".
Costa Rica doesn’t want to become a gaming detsination like Las Vegas.
New laws have been passed in Costa Rica that will change the way that many of the casinos will be run and ultimately prevent new casinos being built in Costa Rica as casinos begin to limit their operations in line with these rules.
Existing hotels with casinos and stand alone casinos must regulate their hours from 6pm until 2am from the current 24 hour operations many of them use right now. Many casinos in Costa Rica offer free alcohol to their customers however this must also come to a stop as well as restricting access for minors. The government has handed these businesses a 6 month deadline to bring these changes into effect.