The US Virgin Islands government has announced that it is set to begin fully opening its markets to online gambling in order to help boost the territory's sagging economy.
The USVI originally passed an online gambling law 12 years ago, but the law was never really enacted by the government. Recently though, USVI Governor John P. de Jongh decided to implement the law, citing the ability for the law to help boost the economy on the three islands.
Commenting on the issue the Governor's office issued a statement which read: “This marks a turning point in the diversification of our gaming industry from land-based casinos and racinos, to Internet gaming and gambling…The implementation of this Act will fulfill our mission of attracting very successful global Internet gaming companies to the Virgin Islands, and encourage new investments to our struggling economy.”
The US Virgin Islands is hoping to become a licensing jurisdiction for various online gaming casinos and software firms.