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Antigua Sees Increase in Gaming Licensing Up 100 Percent

Written by:
Guest
Published on:
Dec/23/2008
Antigua

Director of Gaming, Kaye McDonald told the Antigua Sun the Financial Services Regulatory Commission is in the midst of processing and reviewing inquiries from entities interested in becoming licensed in Antigua and Barbuda.

While McDonald could not give a figure as to how many inquiries were made, she said budgetary projections, based on what has been logged, have shown an increase of 100 per cent so far.

Antigua and Barbuda attained white-list status from the United Kingdom (UK) Department of Culture, Media and Sport, which was officially in effect starting 21 Nov.

By becoming white listed, remote, gaming operators based in the country were allowed the opportunity to advertise their services to consumers in the UK.

It also meant that operators could feel secure in knowing that they were working within a world-class regulatory environment with a "superb e-services infrastructure".

When asked by the SUN if the surge of interest shown in the country could be attributed to the white listing, McDonald stated, "I think that was a factor, yes." She further stated her belief that the upgrade in their regulatory and licensing requirements played a role in raising the profile of the country and created meaningful interest in individuals wishing to conduct business in the country.

In terms of increased employment, McDonald stated that job creation would be a given under the stated regulatory requirements.

"Obviously, to have a gaming company operating in Antigua means more than just having the hardware equipment here. Key personnel, key management and key operators are required to be in Antigua and Barbuda; this is of utmost importance."

When asked if the global economic slowdown was influencing the gaming industry, McDonald stated that from the reports she had seen, it had to some degree.

She said, "It is also widely believed that the gaming industry is the last to go into recession because some persons, when dealing with certain pitfalls look towards entertainment."

According to McDonald, the operators remain mindful of what is happening globally and are taking measures accordingly.        

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Source:  Antigua Sun 

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