The question about the expansion of the gambling sector in the Bahamas has been recently raised and expectedly, became a subject to heated disputes.
According to Richard Sealy, the Minister of Tourism, the availability of more casinos on the territory of the country does not necessary mean an increased percentage of tourists. He said that there are no convincing indicators that the gambling sector would bring the desired revenues.
He is absolutely certain that the number of tourists in not as important as the amount of money they spend while visiting the country. Mr. Sealy also said that he considers ensuring career opportunities to be another important factor that should be paid considerable attention to and that the tourism industry needs urgent revitalization.
The above-mentioned issues made it necessary for an agency to be created so the product development is properly handled. In case of getting expanded, the gambling activities and the revenues generated through them could become a great source of additional revenues and provide tourists and locals with a more abundant choice of entertainment options.
In point of fact, gambling legislation has been on the agenda for a relatively short period of time. What deterred authorities from expanding the local gambling sector was they were afraid that the gambling legislation would lead to increased crime rate and various social issues.
Expectedly, a gambling legislation proposal is likely to meet the fierce opposition of key political figures. People who keep themselves informed about the political issues in the island country know that politicians who do not support a particular idea or law amendment do their best to prevent its implementation.
Back in September 2014, the Bahamas House of Assembly passed a Gaming Bill, which was defined as really controversial. Nevertheless, the Bill passed and as a result, the residents of the Bahamas are currently prohibited from participating in gambling activities.
The Bill was expected to put a new era in the gambling industry of the island country and have a great contribution to the revitalization of the economy and the tourism sector in particular.
As for the introduction of the Gaming Bill, Obediah H. Wilchcombe said that it can be defined as the turning point in the history of the gambling sector. He expressed his hopes that if everyone involved in the gambling affairs of the Bahamas concentrate all their efforts in careful planning, the expected results will definitely be achieved.
In addition, he added that ensuring stable relations with the casino operators is also essential for the expansion of the gambling sector and the opening of the Baha Mar casino, which is supposed to take place on March 27th.
