Two of the country’s major casinos owe The Bahamas Gambling Board more than $7 million in back taxes, it was revealed yesterday.
The disclosure came as the government announced plans to extend casino gaming throughout the Family Islands.
During a press conference announcing members of the Bahamas Gaming Board, Prime Minister Perry Christie said the government was owed millions in back taxes.
“From the point of view of the Gaming Board taxation is something you have to pay. There work is one where they must oversee what is happening,” said Mr. Christie.
The prime minister said that gaming was of vital importance to the economy of The Bahamas.
“This board is responsible for protecting the character and integrity of the Commonwealth of The Bahamas to ensure not only that it is respected here for the manner in which it enforces the laws of The Bahamas but also that it continues with the respect it fought for internationally,” he said.
Mr. Christie also announced that casino gaming will soon be extended into Exuma after the opening of the Emerald Bay Hotel.
“As the frontiers of gaming extend themselves throughout The Bahamas, the work of the gaming board will grow in its importance and significance,”” he said.
Another hotel slated to join those with casinos attached is the South Ocean Club Med in San Salvador.
The government is currently in the process of reviewing laws as they apply to casinos to ensure the ethical, efficient and effective implementation of the laws in casino operations and to ensure that The Bahamas maintains its competitive edge.
“Countries are recognising that the model of The Bahamas is an interesting model when examined and one that can be followed,” said Mr. Christie.
According to Minister of Tourism Obie Wilchombe, 95% of those involved in the gaming industry today are Bahamians.
“That is a significant step. This board, I’m sure, will be responsible for taking gaming one step further,” he said.
The newly appointed chairman of the Bahamas Gaming Board is Kenyatta Gibson, MP for the Kennedy Constituency.
The two board members joining Mr. Gibson are the managing director of the Bank of Boston, Georgette Dal-Butler and vice president of the Grand Bahama Development Company Albert Grey.
Mr. Christie said he and Mr. Wilchombe are currently engaging in talks to extend the size of the board.
