Jamaica developing regulations for iGaming

[The Buzz]

Speaking at the Caribbean Gaming Show and Summit last week, Minister of Finance and the Public Service Audley Shaw said interactive gaming is a "growing sector" that offers "tremendous potential for revenue."

From the Jamaica Observer:

“Due to the expanded use of technology and the need to facilitate the growth of the industry, we, as a Government, have decided to fast-track legislation for interactive/online gambling ahead of the merger of the Commissions (that monitor the gaming industry),” he said.

“Already we have seen a growth in the mobile betting market, with a few local punters and Caymanas Track Limited offering text betting,” he noted further.

Minister Shaw said the Betting, Gaming and Lotteries Commission (BGLC) is in the process of drafting regulations for a licensing regime as well as provide regulatory supervision for operators of interactive gaming.This, Shaw added, will ensure that the Government can properly regulate the growing industry and implement measures to prevent money laundering and the financing of criminal and illicit activities.

“Even as we keep pace with developments, we are also mindful of the vulnerability of the industry to be used by criminals for money laundering. This concern is what gave rise to the de-risking initiatives of large banks that have spurred smaller firms to improve their own supervisory protocols,” Shaw noted.

Read more here: http://www.jamaicaobserver.com/news/...3?profile=1373

[ocreditor]

Great move for Jamaica

[Alex_PlayAttack]

A reasonable thought related to gambling from any gov reps is such a rare thing these days

[Triple7]

Perhaps they just see it as extra income now that the party in Curacao will be over soon?

[ocreditor]

Perhaps they just see it as extra income now that the party in Curacao will be over soon?

What party is going to end in Curacao?

[Alex_PlayAttack]

License emission party was implicit I guess