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COULD BERMUDA BE A NEW JURISDICTION
Speculation on whether the North Atlantic island government of Bermuda will decide to offer regulation and licensing to online gambling companies has resurfaced this week in an article in The Royal Gazette, which examines the revenue possibilities using other island ventures in the field as a benchmark.
The article reveals that a $300 000 independent study of various routes by which additional revenues might be
raised has been commissioned by the government and is currently being carried out by the Innovation Group. Internet gaming is one of several alternatives being examined, which include casinos and a national lottery.
The Bermudan Premier's press secretary Glenn Jones, declined to provide any further information pending the results of the study, to which the Premier referred during a BBC interview recently.
In the BBC interview, the Premier announced the imminent start of the study, and said that all aspects of the gambling issue would be thoroughly examined. "We are studying everything from Internet gambling to lotteries," he said.
Former Tourism Minister Renee Webb told the newspaper that she backed the study and supports the legalisation of gambling on the island. "You are not legalising gambling but extending what already exists Island-wide," she said. "I supported a national lottery where the benefits go to education, the arts and other national causes similar to the British lottery."
The newspaper points out that Bermuda has two significant economic bases - tourism and international financial services business - and imports 90 percent of its requirements, hence the need to explore alternative new revenue streams.
Bermuda is a British overseas territory in the North Atlantic ocean, located off the east coast of the United States, and around 1770 kilometres northeast of Miami, Florida. It is the oldest and most populous remaining British overseas territory, settled by England a century before the Acts of Union created the United Kingdom of Great Britain. Although commonly referred to in the singular, the sub-tropical territory consists of approximately 138 islands
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2017 Aussie Millions Event 1 -
The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.
Swiss Reject idea to Block Gambling Websites -
The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.
Growth Ahead For Online Gambling -
Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.
New Qubit software For SkyBetting -
#qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.
Slotfather II Slot Launching -
#betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..
Massachusetts Online Lottery Bill -
Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.
Italy Doing Well With Online Sports betting -
The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.
Michigan To Reintroduce Online Gambling Bill -
#Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.
MGM Buys DC office building For lobbying team -
#MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.
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