Ratings Agency Urges Gambling Reform in Bahamas

Moody’s

According to a top rating agency, reform of gambling laws in The Bahamas could have a major impact on future stability and revenue growth.

Ed Al-Hussainy, Assistant Vice President and analyst at Moody’s, said domestic gambling legislation pales in comparison to casino regulations.

While domestic gambling might have social implications, from a fiscal point of view, updated gambling laws for tourists will have a far bigger role to play in The Bahamas’ economic fortune.

It has been revealed that a mega resort is ready to pull the trigger on a $10 million casino expansion once these regulations are approved.

Proposed amendments to the gaming laws, which currently stretch back to the 1960s, include allowances so gambling can take place anywhere on the resort campus.

© 2012 SAT Telecommunications Ltd.

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