The 2014 Gaming Bill and Regulations have outlined restrictions on those applying for junket operator licenses in The Bahamas, which may open the Bahamian casino industry up to one of the world's largest gaming markets. Gaming junkets, also known as VIP gaming, are arrangements whereby a promoter arranges for a group of players to gamble with a partnered casino operator in exchange for a commission on the players' chip buys or other payment from the casino operator.
Under section 100 of the regulations, persons below the age of 18 who have been declared bankrupt in The Bahamas or elsewhere, or otherwise excluded from any casino under section 74 of the Gaming Bill, are ineligible to apply for or hold junket operator licenses.
Section 74 of the Gaming Bill allows persons, or relatives and dependents of select persons, to register for the Gaming Board's exclusion list, which prevents registered persons from engaging in any gambling activity. The exclusion periods can last for one year, five years or for life, and were recently added to the legislation to address concerns about problem gamblers in the country.
While the majority of local attention has been dedicated to the bill's effect on the country's web shop industry, The Bahamas could be well-poised to capture part of the global junket market currently dominated by Macau.
Macau's VIP gambling segment accounted for 70 to 80 percent of its overall gaming revenues for several years, with its combined casino gaming industry earning $38 billion in 2012.
However, VIP junket revenues have dipped recently amid corruption crackdowns in Macau. Deutsche Bank Analyst Karen Tang cut her 2015 projections for Macau's gross gaming revenue growth from 10 percent to only one percent, while cutting Macau's VIP forecast from 5 percent growth to a 5 percent decline for the year.
"We now become concerned that, in the current anti-corruption environment, next year's supply may not be able to stimulate VIP demand... We worry that VIP may fall another 5 percent in 2015," stated Tang.
The Senate passed the Gaming Bill earlier this week, with Attorney General Allyson Maynard-Gibson arguing that the bill is necessary to address international concerns related to money laundering and terrorism financing in the jurisdiction.
The 2014 Gaming Bill provided regulations for several burgeoning gaming subcategories, including proxy, junket and mobile gaming, which will open new revenue opportunities for the country's casinos.

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