- Minister Dalley says a modern and effective legal and regulatory framework is central to the success of the gaming industry.
- The Government has been actively updating the legislative framework to empower the various gaming commissions to adequately monitor and regulate the sector.
- The recent passage of amendments to the Betting, Gaming and Lotteries Act is a key indication of the administration’s intention to bring continued order to the growing industry.
Minister without portfolio in the Ministry of Finance and Planning, Hon. Horace Dalley, says a modern and effective legal and regulatory framework is central to the success of the gaming industry.
Mr. Dalley said in this vein, the Government has been actively updating the legislative framework to empower the various gaming commissions to adequately monitor and regulate the sector.
The Minister, who was speaking on Thursday, May 29, at the opening of the 2014 Gaming Industry Summit at the Jamaica Conference Centre in downtown Kingston, noted that the recent passage of amendments to the Betting, Gaming and Lotteries Act is a key indication of the administration’s intention to bring continued order to the growing industry.
He pointed out that the main objective of the Act is to provide the regulatory framework to ensure the integrity and probity of the games and key stakeholders within the betting, gaming and lotteries industry.
The amendments, he said, aim to strengthen and improve the regulatory oversight of the Betting, Gaming and Lotteries Commission (BGLC), so as to develop and expand the industry in an orderly manner.
Mr. Dalley said the changes would also rectify gaps in the Act, which arose from changes made in 2010, and correct anomalies and typographical errors.
The amendments are also expected to increase BGLC’s revenue streams through the expansion of the sports, betting and lotteries industries and through the licensing of a variety of new outlets, including mobile outlets.
He further said the improvements to the law will also facilitate an introduction of fees for activities undertaken by the Commission in the gaming machine sector, as well as licensing fees for certain persons operating in the betting, gaming and lotteries industry.
Meanwhile, Mr. Dalley informed that another crucial piece of legislation that players in the industry must constantly be aware of, is the Proceeds of Crime Act (POCA).
The POCA was amended last year to allow for greater reach in the fight against money laundering and illegal betting and gaming practices in the industry.
Mr. Dalley said the Act now requires gamers to become compliant through training and orientation and developing their in-house POCA Compliance Manuals.
“Rest assured you will be in safe hands with the legal minds at the BGLC and the Casino Commission, who will guide you through the process,” he added.
The inaugural Gaming Industry Summit, which was hosted by the BGLC, brought together most major stakeholders in the local gaming sector, including regulators, operators, suppliers, attorneys and investors.
Discussions focussed on several areas of significance to the industry, including the legal and regulatory framework, the Proceeds of Crime Act, responsible gaming and the sector outlook.
The Betting, Gaming and Lotteries Commission is a statutory body established in 1975 under the provisions of the Betting, Gaming and Lotteries Act to regulate and control the operations of betting and gaming and the conduct of lotteries in Jamaica.