Media reports in Jamaica have revealed that the Caribbean country's government is looking to regulate online gambling with several meetings with investors already being held to get the matter passed through.
The Minister of Finance and Public Service Audley Shaw in the country has been at work to get the activity legalized, and is working to get the country's gambling regulator to get a Memorandum of Understanding with law enforcement to help understand what's legal and not moving forward.
Speaking about the matter Shaw said, "Since last year, the Casino Commission has met with two large international investors, which are now advanced in the preparation of their applications for Integrated Resource Development status," Shaw said, according to the Trinidad and Tobago Guardian. With these developments, there is a lot of optimism for the growth potential of the gaming sector."
"This is a major step in the fight against illicit gaming; we must have eyes and ears on the ground providing information on which the authorities can act speedily. Reports indicate that illegal gambling operations are raking in an estimated two billion dollars each year; a big chunk of that money is used to fund the criminal underworld and we must band together to stamp out this phenomenon."
"It robs governments of revenues and curtails the activities of lawful entities when they are forced to invest significant sums to bolster their internal mechanism."