The US Virgin Islands has voted to approve changes to the Virgin Islands Internet Gaming and Internet Gambling Act, expanding online gambling in the Caribbean territory.
The vote passed through the territory's legislature with a 10-4 vote and will be forwarded to the governor to be signed into law. The amendments were part of a series of issues that were voted on by the legislature, including a six month property tax rebate for residents.
If signed into law, the changes to the USVI's online gambling laws would end an existing section that grants master service provider licenses, which act as a monopoly in the island territory. Also, the USVI Casino Control Commission would be required to promulgate regulations for licensure and renewal of master service providers within 30 days of the law's enactment.
Application and licensing fees for gambling operators cost $10,000 and $25,000 and require a tax rate of 1.5% of the firm's gross Internet gambling revenue.
The US Virgin Islands has had legal online gambling since 2001, when the territory's legislature voted to legalize the activity. The US Virgin Islands is an oversees territory of the United States and has a population of roughly 106,000 people.