In the House of Assembly, it was decided that Bermuda’s First Casino is expected to open this year. David Burt said that we have submitted the proper application for the opening of the casino this summer. They will get the casino license this year hopefully. He further said that we can suggest the commission arrange a meeting on August 24 for considering the casino license. Additionally, the applicant submitted all the required documents on the invitation from the commission. We are now considering the next steps. We hope that we will see the opening of a new casino in Bermuda this year. On the contrary, where the casinos are discouraged by some of the governments, Hungary has extended the casino license for 35 years.
The Need For Final Call By The Commission
Moreover, Mr. Burt said that they cannot make the final decision. Because the commission has the right to the final call. But is my dream and hope to see the opening of a new casino in Bermuda this year. Burt started this discussion during the debate on the Gaming Amendment Act, 2021.
The Objective of Legislation
He said that the members will not be able to sit on the commission due to this legislation. We designed this legislation for reducing the conflicts of interest between the Bermuda Gaming Commission and the Government.
Bert said in a response that under the pre-amendment legislation, MPs cannot serve the commission. Hence, these changes will create some doubts. The move came after talks among the government, the commission, and island banks regarding the processing of gaming transactions.
The Support From The Banks
Bert said that the correspondent banks have the ability to allow the movement of funds inside and outside of Bermuda. A local banking institution proposed that for gaining support from a correspondent bank, the proposed change of the law can help. Furthermore, the amendments updated the section of removing the commission members. The updated legislation explained that it is not permissible to remove the members if they are unfit or unable.
Questioning on The Cashless Gaming in Bermuda
The Opposition Leader, Cole Simons said that he is happy with the progress of opening a new casino. Further, he said that I am happy about the talks with the correspondent banking institutions. But he asked Burt regarding the potential implementation of cashless gaming services. As a response, Burt said that it depends upon the operators, investors, banks, and regulators to analyze the adoption of a cashless model for the casinos in Bermuda.
A PLP backbencher, Kim Swan said that the casinos are a valuable asset for the tourism industry of the country. But he warned that the government should measure twice before making any crucial decision.
Wrapping It Up Bermuda’s First Casino Will Open This Year
Bermuda’s first casino is expected to open this year. It was said by David Burt in the House of Assembly on September 10, 2021. Burt advised the commission to arrange a meeting to consider the license of the casino. Then the applicant submitted all the required documents. In addition, Burt was hopeful regarding the opening of Bermuda’s first casino this year. But the Opposition Leader questioned Burt relating to the cashless model of gaming in Bermuda. Therefore, the government should think twice and cut once while making any important decision.