It appears to have been a gamble that did not pay off. Yesterday Guernsey’s Commerce and Employment Department issued a statement saying that it would take no further proactive steps to invite alternative hotel casino projects to replace the St Pierre Park Hotel development. The Gambling Control Commission, established in 2002 to regulate casinos on the island, has admitted it is unlikely to be able to repay a £100,000 start-up loan from taxpayers’ money.

The States of Guernsey approved the idea of casinos and commenced the search for an operator in 1998. After initial interest by several parties, only one application was submitted and St Pierre Park was awarded the casino concession as part of a £13 million redevelopment plan. The hotel owner, CI Traders, has since pulled out and it seems that the States’ wager to the tune of £500,000 has been lost. It had been anticipated that most of the money would be recovered from licence fees.

The future of the Gambling Control Commission will be discussed later this month but it is thought likely that it will be suspended but not abolished. The Commerce and Employment Department remains interested in attracting a hotel casino project to the island although it will no longer actively seek one. The island of Alderney, part of the Bailiwick of Guernsey, is a leading Internet gaming and gambling jurisdiction with a reputation for the highest standards of regulation. (E-07.19.06)

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