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ANTIGUA – NEW PM AGREES TO CASINO PROJECT Just one day after being voted in, Antigua’s new Prime Minister, Gaston Browne has signed a Memorandum of Agreement (MOA) with Yida International Investment Antigua Ltd allowing for the construction of a US$740m project on outlying Guiana Island.
Following an eight-hour long session of negotiations, Prime Minister Browne signed a Memorandum of Agreement (MOA) with Yida International Investment Antigua, paving the way for the casino investment project in Antigua and Barbuda.
During the lead up to the 2014 election, which was over- whelming won by the new Antigua and Barbuda Labour Party (ABLP), Prime Minister Browne pledged to the people of Antigua and Barbuda that his administration when elected would bring tangible investments that will generate much needed economic growth for the country.
“I promised the people that my administration would bring the type of investments to the country that will transform Antigua and Barbuda into an economic powerhouse and I am serious about that promise. This Memorandum of Agreement is the result of our determination to work in the interest of the people of the country,” PM Browne stated.
The Memorandum of Agreement, which binds Yida International Investment Antigua Ltd., to the investment, will result in Guiana Island and surrounding lands transformed with the construction of five five-star hotels, 1,300 residen- tial units, a casino and conference centre, a 27 hole golf course, marina and landing facilities and a commercial, retail and sports facility.
CHILE – GLI CERTIFIES PER THE CHILEAN STANDARDS With the recent release of Final Standards by the Superintendence of Casinos, Chile Regulators (SCJ), Gaming Laboratories International (GLI) is currently the only lab accredited in Chile.
The company stated: “Chile is one of the most regulated markets in the Latin American region, and GLI was accredit- ed by the SCJ in 2010. Since then GLI has been performing testing and certification for the jurisdiction per the provisional homologation process, up until the SCJ issued their final technical standards in December 2013, when the new homologation process was established.
“With the enforcing of the new standards, GLI is today the only laboratory accredited to test against the Chile regula- tions,” it added. “GLI Latin America Division has been on the ground in Chile working very closely with the SCJ in the development of their final technical standards as consult- ants, and more recently concentrated its efforts by perform- ing an onsite workshop with the SCJ. This effort ended in GLI adapting its testing process to the new technical standards and satisfying the specific requirements and needs of the jurisdiction, resulting in the successful launch of the new cer- tification process.”
Having issued the first certifications for Chile, GLI is once again ready to provide the utmost service and support to not only those within jurisdiction, but to the suppliers around the world that are looking to enter the market. Adding to the company’s efforts to support the Regulators, GLI is preparing to celebrate its VII annual Latin America Regulator’s Roundtable, taking place September 3 and 4 in Lima, Peru.
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GOLDEN LION & SORTIS TROUBLES
Two large scale casinos in Panama are in danger of losing their licences due to allegations concerning the attached hotels Panama - Operations
Two large scale casinos in Panama are in danger of losing their licences due to allegations that the hotels attached to their premises are too small.
In 1998 the government passed a wide sweeping gaming law which permitted casinos as long as they were part of five star hotel with a minimum of 300 rooms. However, according to reports emerging in the local press, two casinos have opened their doors to the public while the hotels are incomplete or have failed to meet with requirements stated by law. If proven to be true the findings could have serious repercussions on both operations involved as the key guiding prin- ciples behind Panamanian gaming laws is that casinos should attract tourists and improve tourist infrastructure.
The Golden Lion hotel was granted a licence in 2009 while the Sortis casino was granted a license in 2013 – both under the Presidency of Ricardo Martinelli. However, Antonio Alfaro, the President of the Association of Gaming Administrators (ASAJA) has warned that although the hotels are not fully operational both casinos are open for business. As a result the ASAJA has filed an appli- cation for the revocation of the contract for the two casinos before the full Gambling Control
Board, chaired by the Minister of Economy and Finance, Frank De Lima.
According to local daily La Prensa, there is yet to be any official word from the Panamanian Gambling Control Board on the issue although the association has requested that the Gaming Board issue an “emergency order” for the “immediate” closure of both establishments. The allegations state that the Panamanian Tourist Board has found that the Sortis hotel only has two of its nineteen floors currently in operation, while the Golden Lion has also failed to meet with a number of requirements set out by the Tourist Board when it comes to its hotel.
Since the passing of the 1998 act the casino indus- try in Panama has grown rapidly and is now home to one of the most developed gaming industries in the entire region. The boom has coincided with Panama’s growing tourist industry and subse- quent building boom the largest of its kind in the history of Latin America.
Coljuegos moving ahead with plans to connect slot machines
COLOMBIA Colombia’s gaming control board Coljuegos is moving apace with its plans to connect all slot machines to a centrally controlled server. The connection of all slot machines online was first consid- ered in 2008 when Colombia changed its gaming laws and was then passed into law in 2010. However, Colombia is the only country in the region which has legislation which allows for online monitoring of slot machines but is yet to put the law into practice.
In March the gaming board pub- lished its findings as to how the industry would be monitored online and invited feedback from members of the industry. This was followed by a meeting in April when members of the board met discussed the issue with union officials and industry oper- ators. During its latest meeting, held in Bogota in mid-July, Coljuegos detailed its latest find- ings and strategies when it comes
to monitoring all slot machines online having taken these com- ments and suggestion into account. The move is the latest in a number of significant changes to the gaming industry, which are being pushed forward by a new gaming board aimed at increasing gaming tax revenue for the health sector and eradicating illegal gam- ing. While it is estimated that ille- gal gaming still accounts for around 20 per cent of all bets made in Colombia the legal sector has continued to grow year on year.
The industry looks set to experi- ence continued growth over the coming years. Earlier this year, Coljuegos granted local gaming company Corredor Empresarial S.A. the right to operate Pari- mutuel sports betting in Colombia. The company was awarded the highest score in the public tender process, and now how the right to offer Pari-mutuel sports betting on an exclusive basis for the next five years.
Puerto Rico The government of Puerto Rico lost out on an estimated US$8m between 2010 and 2013 due to its failure to apply taxes to slots operating on the island. According to statistics released by the countries Internal Revenue Office, the government failed to collect taxes on the 3,569 slots which are licensed to operate in bars and restaurants. The OCPR found that no tax had been applied for licence fees on any of the slots from July 2010 to December 2013. The annual renewal of licences cost US$2,250 per year. As a result if all the operators had paid the corresponding licence fee then the government would have raised the sum of $8,084,250. This total is 42 per cent of total revenues (US$19.1m) which the treasury obtained for the renewal and issuance of licences from tax years, 2008-2010.
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