Crockwell: Casinos are the smallest component of an Integrated Resort
Tourism Minister Shawn Crockwell has detailed a recent trip to Singapore to look into how they have implemented gaming.
In a statement, Mr Crockwell said that he, Minister of Legal Affairs Mark Pettingill and a technical officer met with Singapore’s Attorney General, and Permanent Secretary for the Ministry of Social and Family Development Permanent Secretary along with others involved in the gaming industry.
“The information and insight provided was absolutely invaluable and will help ensure Bermuda avoids many of the mistakes made in other jurisdictions as we move forward with the Integrated Casino Resort model,” he said.
“During the next few weeks we will be hosting public meetings and disseminating information on gaming.
“I trust that when the public hear the details of what we are proposing, and our plans to mitigate the negative effects of gaming, they will support us as we seek to provide opportunities and jobs for Bermudians and revitalise our tourism industry.”
Mr Crockwell said that before reaching Singapore, the delegation first met with 2 Hare Court in London, a leading law chambers with expertise in advice pertaining to legislative and regulatory structures of casino gaming jurisdictions.
While there, they discussed how a statutory regime could be engineered to best suit Bermuda.
Once in Singapore, the group met with Stamford law Corporation and the General Counsel for Marina Bay Sands Pte Ltd Lim Seok Hui.
“We discussed compliance matters between casino operators and regulatory bodies and the various challenges that both entities are confronted with,” Mr Crockwell said. “We were also given advice on a course of action to ensure a healthy and beneficial relationship between casino resort operators and Government.
“This meeting confirmed that we are on the right track with the Integrated Resort model for Bermuda. What is crucial is that we emphasise to prospective developers the importance of the other amenities like convention facilities, quality dining and entertainment. Casinos are the smallest component of an Integrated Resort.”
The delegation later met with Singapore Attorney General, Steven Chong Horng Sionc and Chief Prosecutor Criminal Justice Division, Aedit Abdullah, discussing a number of legal issues surrounding gaming.
They also met with Casino Operators including president and CEO of Marina Bay Sands, Ken Davie and senior VP of Casino Operations, George Tanasijevich about how Singapore established the casino resort industry, and the various steps taken by the Singaporian Government.
“The meeting again confirmed that Bermuda is on the right track with the Integrated Resort model and that it is crucial to emphasise to prospective developers the importance of amenities aside from the casino component,” Mr Crockwell added. “It was revealed to us that in the Marina Bay Sands’ model the casinos account for less than three percent of the facilities’ space. In that sense it is the smallest component of the casino Resort concept.”
To assess the social impact of gaming, the delegation met with Ministry of Social and Family Development Permanent Secretary, Chan Heng Kee, who provided an overview of the Ministry in ensuring that gaming is conducted responsibly within Singapore and the challenges and successes encountered to date.
A meeting was also held with the Inland Revenue Authority of Singapore Manager Corporate Tax Division, Iris Lam and Senior Tax Officer, Yeak Wong Peng, who provided insight as to the complexities of the taxing regime, fees levied against the industry and methods of collecting taxes and ensuring compliance.
A final meeting was held with the special enforcement division of the Singapore police force responsible for gaming law violations (Casino Crime Investigation Branch), who said they are willing to collaborate with Bermuda Police Service and to assist with specialised training to effectively police casino gaming.