Pinnacle pulling license in Antigua over regulatory quagmire

Antigua’s plans to revamp its gambling regulatory structure will enable it to better manage its growing casino industry, while new proposals for the shrinking online gambling sector appear likely to miss their mark.

Last Thursday saw the Antiguan House of Representatives debate and approve the Antigua and Barbuda Gambling Bill 2016. The bill is primarily aimed at managing land-based gambling operations, covering everything from lotteries to casinos to sports betting.

The Act will establish the Gambling Authority of Antigua, which will take gambling out of the purview of the Financial Services Regulatory Commission (FSRC). The Act doesn’t stipulate gambling tax rates, which will be worked out when specific regulations are crafted.

The Act only briefly mentions online gambling, and only to incorporate the existing Interactive Gaming and Interactive Wagering Regulations 2007 into the Act. Specific details on the government’s proposed online gambling revisions were revealed in a meeting last week between Antigua’s online licensees and the FSRC’s embattled Director of Gaming Glynn Grummett (pictured).