Panama adopted regulations governing the licensing of electronic games of chance and wagering activities in late 2002. The regulations allow master licenses to be granted that are valid for up to seven years upon payment of a license fee of USD $40,000. There is also an annual license fee of USD $20,000. Master license holders may grant sub-licenses, which are subject to the annual fee.

To obtain a gambling license in Anjouan, one must first create an international company. There is an annual fee of USD $1,400 for the incorporation (first year) and maintenance (each year thereafter) of the company. Following the legislative elections in April 2004, activities were suspended until the new Institutions of the Union of Comoros were installed. A gambling license costs USD $20,000 per year. Once a company obtains a license, it can operate an unlimited number of gambling sites under an unlimited number of brand names.

First Cagayan Leisure operates a master license and is authorized to screen additional licensees. Online gambling licenses from the company last for seven years. Licenses require a USD $40,000 application fee and an annual fee of USD $40,000. Up to USD $25,000 of the application fee is refunded should the application be granted. The zone also offers a restrictive license option for sportsbooks. This type of license permits bookmaking on basketball and soccer, plus up to two additional sports.The Philippines` Cagayan Special Economic Zone grants online gambling licenses through the company First Cagayan Leisure.