QUI 26 DE ABRIL DE 2018 - 23:24hs.

Jamaica looks to legalise and regulate online gambling

During the Caribbean Gaming Show and Summit, officials revealed that Jamaica’s Government is looking to fast-track the regulation of online gambling. Governance stated that is wants to capitalise on the advancement of technology and the rapid growth of the iGaming sector.

Jamaican Minister of Finance and Public Service, Audley Shaw, told members at the conference that Jamaica intends to offer these highly demanded services in a regulated and well-monitored environment.

Shaw said the Betting, Gaming and Lotteries Commission is in the process of drafting regulations for a licensing regime as well as providing regulatory supervision for operators working in the interactive gaming industry. He ensured that the Government would implement the necessary measures to effectively 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 is why the government, through the regulator, increased its surveillance of the industry, and will extend all the resources necessary to clamp down on illegal gaming,” said Shaw.

Government officials hope the piece of legislation will be drawn-up and approved before the planned three-way merger of the country’s gambling regulators: the Betting Gaming and Lotteries Commission, the Jamaica Racing Commission, and the Casino Gaming Commission.

The three-way merger process is expected to be complete by the end of 2017 and would result in a single governing body known as the Jamaica Gaming Commission. The movement was initiated in a bid to improve the region’s monitoring capabilities of the industry.

Shaw stated: "Since last year, the Casino Commission has met with two large international investors, which are now advanced in the preparation of their applications for Integrated Resource Development status. With these developments, there is a lot of optimism for the growth potential of the gaming sector.

Source: GMB / Go to Gambling Insider article here