Whilst authorities in The Bahamas comment frankly on economic dependence on the gaming industry that brings in the tourist dollars and employs many citizens, other countries in the Caribbean region have put gaming legislation on hold or are planning more restrictions. In South America the neighbouring countries of Colombia and Venezuela, both with Caribbean coasts, seem diametrically opposed in their attitudes. Colombia enjoys a thriving gaming industry with increasing international investment in resort and hotel projects. Venezuela is busy taxing the industry out of existence and blocking the import of gaming machines.

In Guyana the initial frantic push for gaming legislation before the start of the Cricket World Cup earlier this year has slowed to a halt. The legal framework is there, casino gambling has been approved by Parliament, but a gaming authority and regulations have yet to be announced. Just South of Guyana in Suriname, arguably not a Caribbean nation although formerly Dutch (or Netherlands) Guiana, the government is following the Venezuelan strategy and trying to implement a 300% rise in casino taxation. This is likely to put some operators out of business.

Trinidad & Tobago, again like Venezuela, is banning the importation of slot machines. Members of the government have been quoted as saying that measures will be brought in to further restrict gaming operations or close them down completely. The gaming industry presently employs around 6,000 in Trinidad & Tobago, with another 7,000 indirect service jobs. If the government does act it will have to find a way of reducing the impact of job losses. There are also moves to eliminate the National Lottery’s online gaming system.

Antigua & Barbuda developed an online gaming licensing jurisdiction for offshore gaming operators. The World Trade Organisation recently upheld its complaint against the restrictive practices employed by an unrepentant United States, but its thriving licensing business has been hard hit. Many other Caribbean islands, such as Puerto Rico and Belize, are developing their casino industries as a means of bringing foreign investment, new tax money and employment.

Countries such as Venezuela with alternatives like the petrochemical industry can afford to oust their casinos, but poorer nations might do better to properly regulate and licence gambling activity. Belize is a case in point where the authorities encourage tourism projects, including casinos, whilst rigorously defending its status as an environmentally friendly country. At present there are few other industries that can offer such a large scale boost to local economies. (E-06.18.07)

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