Trinidad and Tobago Minister of Finance Colm Imbert recently stated no jobs will be lost under his measure, the Gaming and Betting Control Bill of 2016, which will legalize and regulate the gambling industry. In fact, he noted, it will help create jobs and boost economic development.
“I would like to assuage the fears of any person currently working in this industry, our intention is to legalize this unregulated sector and offer sustainable, meaningful and safe employment in this sector. We are satisfied that once the sector is regulated it can be a serious boost for employment, for economic activity, for tax revenue, for entertainment in Trinidad and Tobago. I don’t think anybody should have any fear of losing any jobs, because once there are proper regulations in place and these casinos come out of the shadows and come into the light, there would no problem with people gaining meaningful employment. I expect to see an expansion,” Imbert said.
Imbert noted Trinidad and Tobago most likely is the only country in the Western Hemisphere with a thriving, but unregulated, gambling industry, which generates $12 billion annually. A report from consultants Gaming Laboratories International stated, “Despite a law that makes common betting houses illegal, the gaming market has grown hastily and without the type of controls one would expect from a country of Trinidad and Tobago’s status and economic resources. Notwithstanding restrictions in the Gaming and Betting Act of 1963, it was drafted in a manner that allowed it to be interpreted to allow private members clubs and amusement machines that are largely unregulated and licensed through local authorities.”
Imbert confirmed this, stating, “In the late 1990s, the Registration of Clubs Act, Chapter 2101, was amended to facilitate the use of electronic gaming machines and table games. Unfortunately, the changes made to act were done without the necessary framework to regulate the mushrooming of such games. The consequence of this is that an unregulated subsector of the gambling industry has developed. Particular concerns have arisen with the proliferation of so-called private members clubs which operate in effect as commercial casinos.”
He added the Liquor Licensing Act, which allows for a maximum of 20 amusement games in licensed premises, also contributed to an explosion of gambling. Today more than 200 private members clubs with an estimated 20,000 amusement gaming machines operate in 4,000 bars and pubs across the country.
