Beautiful Virgin Islands

Monday, Nov 28, 2022

We Want To Get Everything Right

We Want To Get Everything Right

The Government plans to hire a consultant to help set the stage to move forward with the establishment of the much-anticipated gaming industry.

Premier and Minister of Finance, Hon. Andrew Fahie made the disclosure recently while addressing the media on a wide-range of topical issues.

“Once we have the consultant onboard through a transparent accountable process, we will be able to move expeditiously on all the things that need to be done, including completing the appointment of the board,” Premier Fahie stated on February 11.

Previously, the Premier had indicated that the Gaming and Betting Control Commission would be in place by January 1 of this year.

The Premier indicated that the Request for Proposal (RFP) will be issued shortly for the consultant.

According to the Premier, the consultant would also be able to advise on how the staffing and organizational structure for the commission should be designed to ensure efficiency, accountability and transparency which is required; therefore, ensuring that the local gaming industry is properly set up.

“We want to get everything right and to ensure that we cover all the bases in terms of the protections of the industry from abuse or obligations local and international with respect to anti-money laundering and so forth,” Premier Fahie stated.

He stated that Government has started the process of identifying suitably qualified persons who can constitute the board of the Gaming Commission.

“This process has produced some good recommendations, but I am advised that we still have to do some searching to identify some additional persons who
will not only meet the qualifications but who will bring the diversity in terms of the expertise that we need for a board of this nature. We are looking at what will be the best option for achieving this,” the Premier stated.

Revenue Expectations


Finance experts are estimating that new revenue streams like gaming will help the Government realize budgetary plans.

During the Standing Finance Committee (SFC) deliberations Policy Analyst Dr. Dawn Alexander-Joseph, Ministry of Finance advised that approximately $5.7M is estimated for gaming in 2022.

Gaming and gambling were made legal in the Territory under the Gaming and Betting Control Act 2020 which commenced on July 9, 2021 and was further amended in October 2021.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
×