Casino Commission unites stakeholders at gaming summit; pushes for web playing, sports activities betting

ST. CROIX — After over twenty years of inactivity on the territory’s web gaming legal guidelines, the Virgin Islands is now taking vital steps towards implementing a contemporary, regulated on-line gaming framework — with sports activities betting as a key element.

Leaders from the VI Casino Control Commission, worldwide gaming consultants, financial analysts, and senators gathered Thursday throughout on the Carambola Beach Resort for an web gaming summit to debate long-awaited amendments that would usher in a brand new period for legalized playing within the territory.

This summit follows a nationwide development set in movement by the U.S. Supreme Court’s 2018 determination to overturn the Professional and Amateur Sports Protection Act, paving the way in which for states and territories to legalize and regulate sports activities betting.

Since that historic ruling, 39 states, Washington, D.C., and Puerto Rico have embraced some type of authorized sports activities betting, with 32 of these implementing cell and on-line betting platforms.

While the legislation establishing casinos on St. Croix has been on the books since 1995, the modification that gives for web playing within the territory was handed in 2001.

Realizing the outdated nature of the present laws, the Commission partnered with Gaming Laboratories International to start reviewing the authorized framework. After preliminary delays, critical progress started in early 2024. This effort has been years within the making for CCC Chair Marvin Pickering.

“This has been on my radar since I joined the Commission in late 2020,” he stated. “It was among my top 10 tasks to accomplish in my first term.”

Pickering emphasised the significance of together with sports activities betting within the up to date laws, citing its financial potential within the billions.

“Sports betting is a big driver,” he stated, noting web playing, together with video games like poker and slots, can be a billion-dollar trade.

“The U.S. Virgin Islands, however, has yet to enter this phase and is not realizing the economic benefits associated with these growing markets,” Pickering stated throughout the summit.

The CCC chair stated the Commission is dedicated to altering that.

“We are actively working to develop a modern, responsible and transparent licensing and regulatory framework that will enable our territory to fully participate in the digital economy of the 21st century,” he stated.

The Commission’s consultants from Gaming Laboratories International offered an outline throughout the summit of the territory’s on line casino and web gaming statutes that want updating.

“We’re not proposing the changes,” Karen Marcela Sierra-Hughes, GLI vp — Latin America, Caribbean and Spain, stated. “What we’re providing is the information: what had happened in other jurisdictions, what’s the regulatory trends in other places.”

To quantify the potential financial good thing about web gaming within the territory, the CCC engaged The Innovation Group, a Las Vegas-based consulting agency specializing in gaming and hospitality.

Brian Wyman, the agency’s president and CEO, offered throughout the summit on the web gaming market potential within the Virgin Islands along with discussing regulatory points, downside gaming points, and the impression on-line playing might need on land-based casinos.

Discussing find out how to steadiness web gaming with land-based gaming, Wyman famous how different jurisdictions have addressed the priority.

“Typically, in other jurisdictions, these are balanced through the use of higher taxes on online gaming, as opposed to land-based gaming, where there’s job creation and economic development, or infrastructure development,” he stated.

This renewed push to amend the territory’s dormant on line casino laws to accommodate web gaming and sports activities betting stirred cautious consideration amongst senators in attendance throughout the summit. While most senators expressed cautious optimism, they emphasised the significance of accountable regulation, financial steadiness, and group safety.

Senate President Milton Potter stated he’s open to doing what is critical to get web gaming off the bottom within the territory. He stated he envisions that his colleagues can have open minds to develop the mandatory amendments.

“I think it represents a new revenue stream for the territory that ultimately can benefit us and improve the quality of life of the people of the Virgin Islands,” he stated. “The key though is it has to be done responsibly.”

Senator Carla Joseph additionally identified the good thing about income technology whereas discussing the implementation of web gaming within the territory.

“We need more diverse money coming into our shores, outside of the tourism industry,” she stated. “And so, this is bringing that opportunity here to the Virgin Islands.”

Senator Novelle Francis Jr., who famous he has drafted laws associated to web gaming and sports activities betting, confused the necessity for amendments to the on line casino legislation to handle among the nuances that might be detrimental to the group. He stated senators don’t want people to be submitted to any additional monetary hardship due to web gaming.

“Revenues are not always beneficial if it’s impacting our community members,” he stated. “We want to proceed cautiously and make sure all of the policy position takes into consideration all of the dynamics involved here.”

Senator Kurt Vialet stated senators should have a look at the impression web gaming can have on St. Croix’s two brick-and-mortar casinos — Divi Carina Bay Casino and Caravelle Casino.

“Is it going to boost revenues or is it going to decrease foot traffic to those two areas?” he requested. “So, we probably have to do an assessment from other jurisdictions abroad in internet gaming to see whether or not there was a decrease in live participants, or it stayed the same.”

Vialet identified the tons of of jobs supplied by the casinos.

“We want to make sure that we protect those jobs,” he stated, stressing a necessity for web gaming. “We just need to be careful as to how we word the legislation to make sure that all the protections are in place.”

Governor Albert Bryan Jr., who has lengthy advocated for web gaming and sports activities betting as a supply of recent income, stated Virgin Islanders love sports activities — and like to wager on every little thing from cockfighting to boxing.

“So, if we have these industries, just like we had cannabis operating in our community, why isn’t the government getting a piece of the action?” he requested.

Bryan underscored the significance of tying new gaming revenues to group advantages similar to psychological well being companies, elder care, jail rehabilitation, and infrastructure upgrades.

“We need to make sure also that we are multiplying, not dividing, the revenue that exists in the Virgin Islands,” he stated. “It didn’t make any sense to take the money that we have here and cut it up in 600 different little pieces. Let’s figure out systems that attract new dollars to our shores.”

Lieutenant Governor Tregenza Roach echoed a name for steadiness.

“I think we have to be conscious that while we maximize the potential of these digital means, that we must also approach it from a place of social responsibility,” he stated.

The subsequent step within the course of consists of public suggestions and submitting amendments to the Legislature to replace the web gaming legal guidelines, Pickering stated.

“And once they’re passed, the infrastructure would be set up through the various entities — master service providers, operators, etc. — and then people could pull out the phones and start to bet,” he stated.