Bermuda, the New Home of Online Casinos?
The country’s head executive, Premier Emil Brown is very positive about the online casino industry. He says that just in the capital Antigua, online casinos have created 3,000 job in the year 2000 and it has also added $37.5 million in taxes to Bermuda’s coffers. He also said that the citizens of Bermuda can now make an honest living without resorting to drug smuggling. Mr Brown is trying to set Bermuda on a path that will see it less reliant on tourism.
The Bermudan government has recently relaxed laws regarding gambling and it is allowed on docked cruise ships, there is also talk of land casinos opening on the island. Should Bermuda decide to become the offshore host for online casinos, it will definitely gain financially but it will have to participate in the current international legal brawl regarding online casinos.
A couple of years ago, Antigua got into a row with America regarding its gambling laws that prohibits US residents from using online casinos. Antigua took the matter to the World Trade Organisation, saying that America was acting unfairly and illegally since remote betting on horse and dog racing was legal in the US. Antigua is seeking compensation from the US.
Premier Brown has said that Bermuda must seek alternative streams of income since the island nation imports 90% of all goods consumed and has no products to export, online casinos are therefore a good possibility. The government has announced that it is conducting a feasibility study on gaming.