Bermuda’s top two gaming regulators have strongly rejected recent rumors circulating that Bermuda is on a fast track to opening casinos under the Casino Gaming Act 2014.
Speaking to Bermuda’s Royal Gazette, Richard Schuetz, executive director of the Bermuda Casino Gaming Commission, and Alan Dunch, chairman of the commission, strongly refuted previously published rumors that sites had already been selected for the island’s casinos.
“If there has been a deal made, I have not been made aware of that,” said Schuetz, who left the California Gambling Control Commission last summer to run the similar commission set up in Bermuda.
“If a deal was made and I was lied to about it, you would probably be reading about me leaving the island. At this point in my life, I don’t need that. I have a commitment to the people of Bermuda. That is the only constituency I serve.”
Dunch also dismissed the rumors, telling the Royal Gazette, “When I was appointed, I was assured that the commission had a clean slate from which to work. I made it clear I was taking the job on the basis that there was a clean slate, and as I sit here today I can tell you that the commission has made no deals, no promises to anyone.
“If somebody else has, they did so at their own peril, because as far as I’m concerned, this commission is autonomous and will make its own decisions based on merits, not based on other people’s promises.”
The regulators said the commission is taking its time to ramp up the new industry correctly, and that means a process that is likely to take years. “Singapore were talking about legislation in 2003,” Schuetz told the newspaper. “In 2004, they did the request for concepts. The first property opened in late 2010. These take a long time, because there are a lot of steps that need to be handled correctly.
“Another model that shows up a lot in discussions is the Jamaican model. The Jamaican enabling legislation was done in 2010; the first casino in Jamaica will probably open under the act in 2019 or 2020.”
Schuetz said the commission is now studying the act to determine the best way to move forward. “We are working on developing a rate program now,” he said. “We are working closely with a lot of anti-money laundering and counter terrorism people to make sure we get that right. We are just starting to lay a very strong foundation.”
Tourism Minister Shawn Crockwell recently said he hoped the first casino could be ready in time for the 35th America’s Cup in 2017. In the Royal Gazette interview, Schuetz would only say the commission is working as fast as it can.
