Integrated Resort Development Orders Open October 6

According to Finance Minister, Dr. Nigel Clarke, the Government is setting out to attract billions of US dollars in investment in integrated resort developments. He says requests for applications for the award of integrated resort development orders will open Wednesday, October 6, 2021.

Dr. Clarke in an update in Tuesday’s sitting of the Lower House, says this will provide an opportunity for developers to apply for a license to the Casino Gaming Commission. Dr. Clarke alluded to a previous sitting of the House where he had outlined how this new venture would contribute to the economy. He says the application process will be managed by a pool of diverse and experienced personnel from across the public sector and persons with private sector experience, including persons who are knowledgeable about the country’s anti-money laundering and counter terrorist financing system.

The Casino Gaming Act was amended earlier this year to change the requirement for the designation of the integrated resort development. In the meantime, Minister Clarke outlined the adjustments made to the requirements, some of which included; a reduction from two thousand hotel rooms to one thousand and five hundred of these must be designed as luxury rooms.

More in this CVM Live story from Javine Mclean: