Tue | Aug 22, 2017

Revenues from gaming industry up; gov't moves to clamp down on illegal gaming

Published:Sunday | June 18, 2017 | 6:11 AM

Finance Minister Audley Shaw says revenues in the gaming industry increased by close to $20 billion in the last fiscal year.

According to Shaw, the sector recorded revenues of $111.2 billion for the 2016-2017 fiscal year.

This, he says, is a 21 per cent increase in revenue performance when compared with the $91.9 billion recorded the previous year.

The finance minister says the lottery segment of the gaming industry posted revenues of $36.8 billion in the last fiscal year, $1.9 billion more than the amount recorded for the 2015-2016 fiscal year.

And he says the betting segment recorded a 12 per cent increase in revenues, with revenues of just over $10 billion last year.

Shaw says he is encouraged by the numbers, but acknowledged that  unscrupulous individuals may try to tap these revenues to fund illegal activities.

As a result, he says the Betting, Gaming and Lotteries Commission has increased its surveillance of the industry and will use all its resources to clamp down on illegal gaming.