Bermuda's casino fees could be waived or postponed in exceptional circumstances

Bermuda’s House of Assembly approved amended regulations that allow casino fees to be waived or deferred in exceptional circumstances.

David Burt, the Premier of Bermuda, explained that hurricanes and public health emergencies were included in the scenarios that might allow payments to be postponed. The Casino Gaming (Casino Fees) Amendment Regulations 2020 would also change provisions for funds earmarked for training in the industry and dealing with problem gambling, The Royal Gazette reports. Burt told MPs that the original regulations were made in March 2017.

“Honourable Members will recall that the regulations call for a casino licence application fee of $600,000, a provisional licence issue fee of $1.4 million and a licence fee of $1 million,” Burt said on Friday. “That’s $3 million payable before the first dice are rolled or a card is dealt.”

The Premier said that “such onerous financial requirements” were likely made to discourage “fly-by-night operations”; to support regulatory functions and operations of the Bermuda Casino Gaming Commission; and to “provide the financial support for training for Bermudians entering the gaming industry and critical support to the Problem Gaming Council.”

He explained that the existing regulations did not cover the option to “consider economic changes which would impact the ability of an investor or prospective casino operator” to pay the fees, but that the amendments included that.

The Premier also said that the rules would allow the minister responsible for gaming to waive or defer payment of a fee in its entirety or in part for a set period in exceptional circumstances. He added that these included a state of emergency, a public health emergency, “or in the event of hurricanes or an event which significantly and negatively impacts a sector of the economy or the community in Bermuda”.

“In this pandemic recovery period, Bermuda will distinguish itself in a crowded marketplace clamouring for investment by demonstrating flexibility and speed,” Burt said. “We must anticipate the needs of investors and do what we can to keep existing investors at the table."

In response to questions and comments from members of the opposition about the status of gaming in Bermuda, the Premier said there would be a chance to debate the topic before the House of Assembly rises for summer. “At the next day of sitting [on July 17], I will table amendments to the Casino Gaming Act and I will be happy to have the full gamut of a gaming discussion at that time.”

Burt stated that he would “give the country a full update on where we stand in regards to our progress on casino gaming.”