Baha Mar Senior Vice President Robert Sands said yesterday that while local casinos expect a revenue increase if permanent residents and work permit holders are allowed to gamble in casinos, there was no specific target on how much additional revenue operators expect from this new category of players. "You cannot look at our proposals in isolation," Sands said. "You have to look at our proposals in totality because it is the basis of all the recommendations that have a positive financial impact. "While all of them in part have, it is the modernization of the entire gaming regulations that is meaningful and that we believe will drive significant gaming revenue.
"We believe that there are revenue streams attached to it and any increase of a gaming opportunity results in gaming income." A proposal submitted to the government by industry stakeholders calls for permanent residents and short and long-term work permit holders to be allowed to play in casinos. However, these players would be subject to an "appropriate entry levy" to the government. The proposal notes that this would provide controlled incremental revenue opportunity by allowing wealthy permanent residents to gamble locally and keep gaming taxes in the country.
The document also cites the Singapore model which mandates that residents buy a US$100 daily pass or a US$2,000 yearly pass for casino access to limit those with financial means. The new Gaming Bill would also allow people who are outside the country to gamble on a website established, maintained and operated by the holder of a local license. However, these players must be in a country or jurisdiction that allows online gambling. The new bill would also allow local casino operators to facilitate online and mobile gambling so that guests can wager from the casino floor.
Sands would not comment directly when asked what he thought about the criticism surrounding the Gaming Bill. "The Casino Association committee's singular focus is on getting the government to approve our recommendations," he said. "We believe that if these recommendations are passed and approved it will reap significant rewards, not only for the individual companies, but also for The Bahamas. "We will continue to push for the approval of this bill. Our position is that if the government in its wisdom decides to allow Bahamians to gamble in casinos, in due course we would welcome that change."
While local casino operators have long pushed for updated gaming laws to allow them to be more competitive with other established gaming destinations, web shop owners see the proposed bill as discriminatory. Attorney Wayne Munroe, who represents Percy Web Cafe, Island Luck, FML Group of Companies, Asue Draw, Whatfall and Chances, said last Wednesday his clients are "disappointed". Web shop bosses are involved in a court battle in an effort to keep their businesses open. The legal challenge came about after a majority of people who voted in a referendum on January 28 voted against the regularization and taxation of web shops and the establishment of a national lottery. However, less than 50 percent of the electorate voted.
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