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Bahamas: Ex-minister warns over gambling

16 April 2010

BAHAMAS -- James Smith, a former finance minister, has expressed concern that proposals to allow Bahamians to gamble in foreign owned casinos could be counterproductive economically, The Tribune reported.

James Smith pointed out such a decision could affect foreign exchange reserves, The Tribune said.

Currently foreigners gamble in foreign currency which the government garners as revenue, The Tribune report explained.

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