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Gambling: Dominican Republic based company has a land casino
The Caribbean Casino and Gaming Corporation was in the business news for the second time this week, having earlier announced that live betting cameras and software will be installed over table games, including Texas Hold 'Em, at its Sosua Bay Grand Casino in the Dominican Republic within the next two weeks for Internet live betting purposes.
In its latest announcement, CCGC advises that it has entered into a six month online test simulcast broadcast agreement with Kenilworth Systems Corporation to support its recently signed agreement with Trade Broadcasting Corp to offer Texas Hold Em Tournaments throughout the Caribbean Islands.
CCGC plans to relocate its smaller Grand Casino to an adjoining 250 room hotel that will include a disco, four (4) restaurants, three (3) pools and a vastly expanded casino to accommodate Caribbean Stud Poker and Texas Hold Em tournaments. Kenilworth will complete the test before the Grand Casino is relocated.
Kenilworth owns patents filed in the U.S. and in fifty-one (51) industrialised countries including China, Japan and Russia in which are located 2 151 land casinos. The patents are for systems and methods for playing casino table-type games such as roulette, dice and baccarat in an interactive manner at sites remote from the actual casino table at which cameras follow the live game that is being played in strictly regulated casinos. This allows players to wager as if they are in the actual casino playing at tables rather than virtual or number generated casino games from studios.
The patented technology includes the use of lottery-type terminals that accept cash deposits while managing the wagering by using lottery data systems that can easily identify problematic gamblers and limit or shut down their compulsive gambling habits and also prevents underage participation when state operated lotteries become involved.
Herbert Lindo, Chairman and Chief Executive Officer at Kenilworth, explained: "Simulcasts of remote casino table games to homes, cell phones, public gathering places such as cafes, hotels, resorts, horse race tracks and selected restaurants and bars is the direction of the future.
"Denmark, Sweden, Poland, Switzerland and France have either passed or are preparing legislation permitting only remote live games from their own casinos with the same tax benefits, halting virtual wagering and number generated games along with studio games. The reason we are developing the software and the required equipment is to market the live game broadcast technology together with licensing our patents."
As part of the test agreement, among other considerations, Kenilworth will pay one half of one percent for a period of ten years, from the net, net win earnings from an estimated annual $500 billion worldwide market in the not too distant future (up to an estimated $2.5 billion annually). Kenilworth's software and technical personnel will assist Caribbean to complete the Texas Hold Em tournament broadcast system.
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