Why Bahamians should vote yes

Wed, Nov 7th 2012, 08:21 AM

The visions or plan of successive governments in The Bahamas has always been to move the country forward. Over the last 30 years, we have seen no sign or true developments of new industries in The Bahamas. Our cost of living has increased, crime has escalated, many jobs have been lost. This is the time for Bahamians to make history and for the first time in 30 years to create an industry that is owned 100 percent by Bahamians, for Bahamians.
Tourism and Financial Services which have been the bread and butter of our economy have sustained many Bahamians, the majority of these business however are owned and directed by foreign interests. Any profits realized from these entities are sent out of this country.
Beyond gaming, we have businesses that have used technology and the Internet to create an industry that provides a respectable livelihood for thousands of Bahamians. In most parts of the world this is encouraged and applauded.
Though the hue of misguided interest looms over the industry, we can go back in history and recall the prohibition era when many merchants who today are very respectable members of society, some even parliamentarians, were and are beneficiaries of such so-called "ill-gotten" proceeds. They have since been regularized and have made significant contributions to the advancement of our country. It was decided then that for the betterment of the country and moving the country forward, we embrace the industry that the majority of Bahamians and visitors alike were so eager to support.
This is where we have found ourselves once again today. Everyone is entitled to their view, there is absolutely no doubt about that. Our view is simply, vote yes and move the country forward. By Bahamians, for Bahamians, believe in Bahamians.
1. Gambling in The Bahamas, is not illegal. It is only illegal for Bahamians.
2. Web shop operators collectively employ almost 10 times the amount of people the casinos do. They do this with no tax exemptions.
3. Gaming businesses produce legitimate jobs in every first world country around the world.
4. Bahamian Web shop operators have created a phenomenon in that they have created the fastest growing industry in the region using Bahamian ingenuity and sound business practices. People play and get paid. If they didn't they would not grow. This should not be discouraged, it should be regulated and taxed accordingly, and fairly.
5. No modern society opens up gaming in all methods 100 percent. It is opened up in segments. We have a history of gaming in The Bahamas going back decades.

What does a yes vote mean?
o Regularization of a major economic contributor in the country to produce revenue for the government.
o 3000 to potentially 4,000 new jobs as a result.
o Over 200 rental stores throughout the islands to operate these shops.
o Cable Bahamas revenue of in excess of $200,000 per month, plus the fact that a substantial amount of subscribers to Cable Bahamas only have Internet in their homes so that they can play their numbers.
o Web shop companies would be able to bank their money legitimately, thus banks will have more money to lend to stimulate the economy.
o Economic growth and opportunity for even more products that can be created through Bahamian ingenuity.
o Substantial government revenue from taxation and fees.

What does a 'no' vote mean?
o Closure of an economic pillar in our economy.
o Loss of over 3,000 jobs immediately.
o A burden of unemployment benefit instantly to NIB of approximately $5 million.
o Landlord loss of revenue as web shops pull out.
o Loss of revenue for cable and communications infrastructure, which will result in further loss of jobs.
o Deployment of police to ensure that gaming is still not taking place, when they could be out fighting "real crime".
o Millions of donations to charities forfeited.
o Further increase in crime due to unemployment.
o Continuance of the "brain drain" on our economy and discouraging entrepreneurs from developing new innovative ideas in fear that they will be destroyed if the right factions do not agree with your product.
o Encourage illicit gaming where the bets are now sent out of the country for less return.
We must embrace the future, grow our economy and grow our people. We must vote yes.

o Whatfall.com is a web shop company.

Click here to read more at The Nassau Guardian

 Sponsored Ads