Trinidad and Tobago, the dual-island Caribbean nation, officially launched its Gambling Control Commission (GCC), charged with monitoring and governing gambling activities on the islands. Finance Minister Colm Imbert announced the appointment of Stephan Tang Nian as the new agency’s first chairman.
According to Imbert, the government formed the GCC “to address the social concerns arising out of the proliferation of private-member clubs providing casino-style games to the club members.”
Tang Nian is a former senior government adviser on banking, auditing and anti-money laundering. He will be supported by tech and cyber-securities expert Steven Thomas as deputy chairman. Thomas is the managing director and senior software developer of Trinidad-based tech solutions supplier Prodigy Software.
The GCC’s remaining board members are composed of experts in the fields of gambling, business, IT AML and law. Meanwhile, Tang Nian and Thomas will serve a maximum term of four years.
Last summer Trinidad and Tobago’s Upper House approved the passage of the Gambling Control Bill that ordered the government to establish a commission/board. The bill reads, “It is expected that the commission will establish a licensing framework which will aid in minimizing the potential for money laundering and terrorist financing due to the stringent criteria that will have to be met in order to obtain a license to work in the gaming and betting sectors.
“It is recognized that these sectors have the potential to contribute meaningfully and positively to the national economy, if regulated effectively, by creating employment, not only in the sector but in other downstream sectors, thereby creating greater tax revenues.”
