Bermuda Faces Criticism as Gambling Regulator Employees Draw High Salaries

^{Photo: Premier David Burt}

Bermuda’s government, led by Premier David Burt, is under scrutiny as the opposition raises concerns about the substantial salaries received by executives of the Bermuda Gaming Commission (BGC). According to The Royal Gazette, three top managers collectively earned $50,000 in a single month.

Opposition senator Douglas De Couto pointed out that the gambling regulator has incurred over $16 million in expenses since its inception in 2015, despite the fact that Bermuda has no land-based casinos. This has raised eyebrows, as the government is essentially spending taxpayer money to regulate a non-existent industry.

The situation is further complicated by the ruling Progressive Labour Party’s 2020 election campaign promise to open casinos on the islands. 

Premier David Burt, who also leads the Progressive Labour Party, had pledged that the first casino would open in 2021, but no such establishments have yet materialized.

To provide some context, it is worth mentioning that the BGC does hold regulatory authority over casinos operating on cruise ships that enter Bermuda’s territorial waters. Additionally, a government spokesperson stated that the regulator’s responsibilities extend beyond gambling to explore alternative revenue sources.

The lack of a gambling industry on the islands is attributed to Bermudian banks being unable to secure U.S. correspondent banks to process casino transactions, due to concerns about the regulator’s independence from the government.

For reference: Bermuda, a British Overseas Territory in the northwestern Atlantic Ocean, has a population of 71,700 and an area of 54 square kilometers.