The island nation of Bermuda is now welcoming proposals from firms keen on establishing casino resorts within its territory. This development follows the announcement by the Bermuda Gaming Commission, spearheaded by Executive Director Richard Schuetz, declaring the commencement of the application window. Companies can now put forward plans for either incorporating casino gaming into their current tourist properties or for constructing entirely new casino-centric resorts.
The window of opportunity is somewhat restricted, as the Bermuda Gaming Act of 2014 permits the issuance of a maximum of three casino licenses. Interested entities will need to act swiftly to secure one of these highly sought-after permits.
Prior to even submitting a license application, developers and property holders must first apply to have their properties designated as casino locations. The Gaming Commission, formed just last year, will be tasked with evaluating all applications before presenting recommendations to the appropriate Ministers. While a precise timeframe for the application procedure remains undefined, Schuetz stressed that the Commission is dedicated to proceeding as efficiently as possible.
The Gaming Commission’s Chairman, Alan Dunch, contends that casino amenities within resorts will create employment prospects and draw additional investment to Bermuda. He remarked, “We are of the view that a well-regulated, commercially sound gaming experience will bolster the tourism product, providing amenities that are standard and anticipated in sophisticated tourism destinations worldwide.”