Government hopes to gain from presence of gaming company

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By Latrishka Thomas

Caribbean CAGE LLC is hoping to establish its gaming route operations in Antigua and Barbuda.

 The government of Prime Minister Gaston Browne has indicated its support, noting the benefits of bringing the gaming company to the twin-island state.

One interesting and significant feature of Caribbean CAGE LLC’s operations is that they do NOT utilize the internet for betting.

Principals from the company on Wednesday this week made their pitch to Cabinet and Information Minister Melford Nicholas, in a subsequent briefing on Thursday morning, said the proposal put forward by the firm is more appealing than the gaming companies that already exist.

“I believe that the entity that they have brought forward it’s a different form of pari-mutuel betting; it’s a different form of gaming, and I believe what is different with the way they proposed this is that the government stands to benefit from a wholesale share of the business in the sense that off the top, a significant percentage of the earnings of the company the government will earn on the gross rather than on the net. It is not so in the case of some of the other gaming systems to include the lottery where the government earns a meager contribution on the net and so this is attractive to the government,” Nicholas said.

He said that not only will the venture be of economic benefit, but it will also contribute to sports and other social undertakings.

Read more in today’s newspaper

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