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Bahamas official: Gaming still important

13 June 2007

BAHAMAS -- As reported by the Freeport News: "Gaming continues to play a vital role in the economy of The Bahamas as it is a multi-billion dollar industry that attracts tourists from all over the globe, said Minister of State for Tourism and Aviation Branville McCartney.

"Making his contribution to the 2007 – 2008 Budget Debate, McCartney singled out this vibrant industry, noting that in recent times, more and more investors have come to realize the immeasurable potential that this particular niche market holds.

"...McCartney noted that there are approximately 1,000 persons employed at Our Lucaya Beach Resort.

"Effective March 1, 2007, he said, there is a reduction in the amount of casino taxes payable by Isle of Capri and marketing support is provided during the term of the agreement.

"...McCartney explained that in safeguarding the country's reputation as a stellar gaming jurisdiction, The Bahamas must continue to hold its regulators to the highest ethical standards, mandating that they exhibit behaviours that bode well with the country's reputation.

"Declaring that gaming is a dynamic and create industry, McCartney pointed out that every year new games are being introduced, thus the challenge remains for regulators to keep abreast of new information and technological advancements in this arena..."

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