Gambling sector in Cape Verde attracts interest from potential investors

15 July 2011

Mindelo, Cape Verde, 15 July – The Cape Verde inspector-general for gaming, José Augusto Cardoso, said Wednesday in Mindelo that there are businesspeople interested in investing in casinos in the country.

“As yet there are no licensed locations because the government has not launched the tender for granting gaming area concessions, but interest has been stated by national and foreign investors that want to operate in this sector, “ Cardoso said.

According to the Cape Verdean press, the inspector-general made the statements during a visit to the island of Sao Vicente to present the gaming inspectorate service as well as the law governing gaming and gambling.

The law, which was approved in July 2010, sets out five authorised permanent gaming areas on Santiago, Sal, São Vicente, Boavista and Maio islands and on the remaining islands a special and provisional authorisation to open casinos.

The law also stipulates that gambling can only be carried out in casinos our tourist resorts with a rating of four or more stars and the gaming business will be subject to a 10 percent tax on gross revenues and have its own legal framework. (macauhub)