PNG casinos it shows here aren't attractive to any but money launderers, kickbackers, or?May 3 2007 at 3:38 AM
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The casino bill is all about making huge amounts of money off a small piece of land in Boroko.
There is nothing attractive about overseas gamblers coming to PNG except if there is funny business involved. No one will come to PNG as opposed to going to the casinos in Australia, going to Macao, or Las Vegas.
As shown by the article below, even the gambling casino industry says that there is nothing attractive about investing in casinos in PNG under the current law.
So why is that strange Korean group investing?
Obviously there is funny business involved here with respect to the Korean's wanting to build the casino in PNG.
Obviously there is also funny business involved with respect to the Somare government introducing the gambling casino legislation.
Clearly there will be hidden kickbacks of money involved to those who have arranged for the law.
Kickbacks to whom?
Published: Wednesday, May 02, 2007 Online-Casinos.com
PAPUA NEW GUINEA THE LATEST IN LICENSING
But with costs like these will this jurisdiction prove popular?
The Australian and New Zealand media are reporting on the newest global online gambling licensing jurisdiction this week - Papua New Guinea, where parliament has passed a gaming law allowing casinos and internet gambling in the Pacific nation.
The Gaming Control Bill 2007, introduced by Prime Minister Michael Somare, overwhelmingly passed 61-0 in the last session of parliament before the general election in June. But eight MPs, including Treasurer Rabbie Namaliu and Community Development Minister Carol Kidu, walked from the chamber in protest before the vote.
Churches and women's groups in PNG are likely to lead opposition to the new law.
Somare told the House the new law contained provisions to keep out criminal exploitation and impose strict entry requirements, including hefty refundable casino entry fees, to discourage Papua New Guineans from gambling.
Under the new law, each of PNG's provinces can have one casino license for 10 years.
Casino operators will be required to pay a duty of 20 percent of gross profit and a community benefit gaming levy of 5 percent of gross profit.
Somare said PNG could earn income from taxing PNG-based internet gaming for overseas clients "without being affected by the social ills gambling brings to the local population" but the main thrust of the legislation is on land opportunities. The new law paves the way for a Korean consortium to build a US$35 ($47.78) million five-star hotel and casino in Port Moresby, a project already approved by PNG's cabinet.
Gaming machines are legal in PNG but illegal Asian-sourced "horse race gaming machines" have proved a problem, with several cases uncovered of senior police officers colluding with Asian businessmen in their operations.
The new law creates the National Gaming Control Board to control all forms of gaming activities and promote community awareness of problem gambling.
- Re: PNG casinos it shows here aren't attractive to any but money launderers, kickbackers, or? - Yokomo on May 3, 2007, 12:11 PM
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