The head of Atlantis has revealed that the government implemented "the majority" of 17 "modernization" requests made by the casino gaming industry in recently tabled gaming legislation, but the country's three major casinos are continuing to provide feedback on the bill ahead of a debate on it.
George Markantonis, president and managing director of Atlantis - also confirmed that once passed, the bill will unleash millions of dollars of investment via the establishment of a private, high-end gaming salon.
"This has already been planned and designed, and so we would expect to be able to go forward with that project very quickly, and perhaps complete it by January or February of 2015," said Markantonis.
This would be only the "most immediate" of a number of projects that the passage of the updated gaming legislation will preface, suggested Markantonis.
In an interview with Guardian Business on the tabling of the Gaming Bill last week, the hotel executive said that members of the Gaming community, specifically the three large casinos in the country, have met and are "going through [the legislation] in detail, gradually providing comments to the government".
"We were pleased that this has finally been tabled, because we need the passage of this bill, specifically the gaming regulation recommendations that the casino industry had provided to keep us competitive with casinos opening up and down the U.S.
"The gaming industry had proposed 17 such modernization requests to the government and, of those 17, all were addressed, although not all were approved. The majority, the most important ones, have been implemented."
"So we are very pleased with that as an industry, and we continue to fine tune the language and seek clarity. We'll have to see what comes up in the debate. We were provided an opportunity to make comments and we have done that as an industry.
"There is not much more I can comment on at this time until there is a final bill," said the Atlantis chief.
The regulatory changes provided for in the Gaming Bill would allow Bahamian casinos to offer international travelers the latest gaming-industry amenities, including Internet, interactive and mobile gaming; in-play sports betting and proxy wagering.
The bill also provides for the regularization of web shops, a move undertaken by the government primarily to allay fears that the ongoing operation of illegal gaming establishments could threaten The Bahamas' financial sector as a whole when it is subject to external review by entities such as the Financial Action Task Force.
In a statement issued immediately after the tabling of the long-awaiting bill, Baha Mar called it a "sweeping revitalization of the country's gaming regulations". Baha Mar, in particular, has been eagerly awaiting the legislation in order to have greater certainty as it invests in the technology it will offer to guests come its grand opening in spring 2015.

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