The tiny-but-tony British territory of Bermuda is preparing to welcome its first casinos.
A law allowing for the construction of casinos was approved recently by Bermuda’s senate.
The issue was at times contentious. Opponents of the law claimed casinos could encourage prostitution, violence and other societal ills. Boosters of the law argued that gaming would jumpstart the island’s declining tourism industry.
Once one of the world’s premier island destinations, Bermuda’s tourism and construction sectors have slumped somewhat in recent years.
In order to mollify opponents, lawmakers placed a variety of significant restrictions on new gaming ventures.
The number of casinos in Bermuda will be capped at three, and all casinos must be located inside hotels.
One casino, part of a $120 million resort development in St. George’s, is already being planned. Other developers have expressed serious interest.
More laws regulating the island’s nascent gaming industry are expected later this year. Some observers believe lawmakers may try to restrict gaming activity to hotel guests.
The vote to allow casinos comes on the heels of a decision last year that allowed cruise ships to operate onboard casinos while in port on the island.
Thirty years ago, Bermuda was one of the prestige names in the tourism industry. The ensuing decades have seen the island’s prospects slowly decline.
The island’s economy is now deeply dependent on foreign visitors. The introduction of gaming to the island, while not a magic wand, should help make Bermuda’s tourism industry more competitive.
Other popular vacation spots, such as Puerto Rico, Aruba, the Bahamas and St. Maarten, all offer gaming.
By opening the door to casinos, Bermuda is well-positioned to add jobs, draw more tourists and encourage new construction.
Any concerns about social ills attached to gaming should be assuaged by the restrictions put in place by lawmakers.
By limiting the industry to three strictly regulated casinos, Bermuda’s lawmakers have created a savvy compromise solution that should benefit the island’s economy — and incoming tourists.
