Two Bermuda hotels have applied for designation as potential casino operators.
Alan Dunch, chairman of the island’s Casino Gaming Commission, said the owners of Fairmont Southampton and Morgan’s Point hotels have applied for their properties to be deemed designated sites, which if approved would allow them to seek provisional casino licenses.
“Both of those applications have been reviewed and recommendations made by the commission,” he said. “As we speak, they are with the minister (of Tourism) for approval or otherwise. I am not aware if he has made any decision as of yet.”
Veteran U.S. regulator Richard Schuetz, executive director of the commission, said the launching of an RFP process through which licenses could be granted is imminent.
“We are excited about that,” he said. “We feel that we will have people presenting their projects to us by the late third quarter of this year and we will be granting provisional licenses this year. We think that is within reach.”
He said it’s possible the Atlantic Ocean island, a British territory located about 500 miles east of the Carolinas, could have an operating casino by the second quarter of 2018.
Prospective developers have until July 21 to submit the requisite paperwork and pay a $600,000 application fee. Those awarded a provisional license will be charged an additional $1.4 million. Those making it through to the final stage will be subjected to a further $1 million “Casino License Issue Fee.”
In the meantime, Schuetz said, the commission had been making progress in ensuring training opportunities are available for Bermudians and that responsible gaming programs are in place.
The commission and the island’s tourism officials have been under fire from lawmakers critical of delays in establishing a framework for casino licensing and attracting gaming-related investment in line with plans by the government to energize and grow Bermuda’s tourism economy.
Under the Casino Gaming Act of 2014, the commission can approve up to three provisional casino licenses in addition to the provisional license already granted to a mixed-use resort project proposed by hotel operator St. George’s.
