Some major changes have been made to the Rota Casino Gaming Commission’s Rules and Regulations in view of the worsening economic situation. The non-refundable casino licence application fee will now cost prospective investors US$10,000, down from the previously proposed figure of US$100,000. The minimum investment is also lower, now at US$5 million and not the US$25 million originally planned. Details of the final regulations were published last week following a decision taken by the 5-member Commission at a meeting on 6 March.

The proposed casino rules and regulations were first published in the Commonwealth Register on 22 December 2008 but have now been amended to reflect the current economic climate in a bid to attract investors. The Commission also reduced its casino licence fee from US$200,000 a year to a tiered rate of US150,000 for one year, US$300,000 for three years, and US$400,000 for five years.

Rota, a member of the Commonwealth of Northern Mariana Islands (CNMI) voted in favour of casino licensing in November 2007. The Commission believes that the changes to the Rules and Regulations will make Rota one of the most favourable casino licensing jurisdictions. The island has made a total investment of not less than US$25 million within a 10-year period a condition of a casino licence. (E-04.14.09)

© Copyright 2009 CasinoCompendium



>>> return to archives
>>> return to frontpage