Cape Verde establishes law on gaming and gambling and creates Gaming Inspectorate

13 June 2011

Praia, Cape Verde, 13 June – The introduction of gaming and gambling in Cape Verde may increase demand for the archipelago as a tourist destination, the Minister for Tourism, Industry and Energy said Thursday in Praia.

Humberto Brito, who was speaking at the ceremony to present the new law that regulates gaming and gambling in Cape Verde and establishes a Gaming Inspectorate (IGJ), said this was a moment of “great importance” because Cape Verde could attract many more investors and tourists.

“Over the last few years there have been many requests by those interested in setting themselves up in Cape Verde to establish businesses related to gaming and gambling, but a clear legal framework was needed so that this could be carried out in a transparent way and with clear rules,” he noted.

The law that regulates gaming and gambling establishes rules about the locations, areas, procedures for setting up the rooms, who can compete and what the obligations of concession holders are and regulates gaming and gambling crimes, amongst other issues.

Brito confirmed that authorisation had been granted to launch the tenders for gaming and gambling concessions in Cape Verde.

Gambling is restricted to gaming rooms in four- or five-star hotels or in casinos, but within specific gaming and gambling areas.

The islands of Santiago, São Vicente, Sal, Boavista and Maio are permanent gaming areas, although temporary areas can also be set up.

Setting up gaming rooms is subject to a public tender and companies set up in Cape Verde can compete for a concession. Each concession holder must pay the government a contract bonus of between 20 million and 264 million Cape Verdean escudos (between 181,000 and 2.39 million euros). (macauhub)