2020_8_pragmatic.gif
2020_8_pragmatic.gif
2020_8_pragmatic.gif
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine
GGA 2020 AffiliateCon
NEWS 27 June 2017

Former Baha Mar developer calls for moratorium on sale

By Josh Fisher
BMD Holdings, the original developer of the Baha Mar resort, has called for a moratorium on the sale of Baha Mar to Chow Tai Fook Enterprises (CTFE) amid claims of potential corruption in relation to concessions granted by the previous government of the Bahamas.

According to BMD, such concessions included acceding to CTFE’s demands for increased power generation from Bahamas Power and Light, as well as granting 1,200 new Chinese work permits instead of hiring locally, to finish completion of the resort.

In a statement issued on Monday, the company said: “These documents confirm the nation's fears that the previous administration had engaged in the wholesale giveaway of hundreds of millions of dollars in tax waivers and concessions that the country could not afford and that rightfully should have been earmarked for The Bahamian people, solely to facilitate a charade of a sale in the lead up to the general election last May.

“The agreement also clearly raises the concern about the potential of corruption and self-dealing by members of the previous government, even beyond the now public self-dealing by the former Attorney General," the company added.

BMD Holdings has also urged the new government of the Bahamas, led by Prime Minister Hubert Minnis, to “reopen the casino licence investigation” and publicly disclose the Gaming Board’s assessment of CTFE’s suitability.
RELATED TAGS: Legal & Regulatory
DISCUSS THIS ARTICLE
IN-DEPTH 18 February 2020
A decade to remember
READ MORE

PREMIUM CONNECTIONS
Digital Isle of Man
Legal and Jurisdictions
Digital Isle of Man is responsible for the thriving Digital sector in the Isle of Man, spanning the Island's international ...
BetConstruct
Systems and Software
BetConstruct is a global award-winning technology and services provider for online and land-based gaming industry. BetConstruct's innovative and proven offerings ...
Global Gaming Awards
Industry Awards
The Global Gaming Awards London recognise the most innovative companies and individuals of the gaming world. The Awards are powered ...
NSoft
Systems and Software
NSoft is an award - winning internationally recognized software solutions provider for betting industry. The company has more than 200 employees ...
ActiveWins
PR and Marketing
ActiveWin has ripped up the rulebook on the traditional agency prototype. Our model is based on performance - as you ...
BBIN
Systems and Software
The Leading iGaming Software Supplier in Asia
1xPartners
Affiliate
1xPartners is the innovative and exciting affiliate program offered by 1xBet, one of the world's leading sportsbooks and casinos. Offering ...
Newgioco Group
Systems and Software
Newgioco Group, Inc. (OTCQB:NWGI) is a premier leisure betting technology company providing regulated online and land-based gaming and sports ...
Efbet
Systems and Software
We have partnered up with deVRealm in a joint venture for the development of new gambling technology platforms. The primary ...
Zimpler
Payments
Zimpler provides a complete In and Out payment solution for online services. That means we take care of identifying the ...