| NEWS |
| 05.05.2008 |
| Puerto Rican Hotel Industry Discredit Approaching Lottery Privatization |
Government of Puerto Rico is intended to create the Puerto Rican Lottery Corporation and conduct the privatization of the lottery system in the island. Government asserted it is in search of a public corporation like that and a private operator that will be able to operate the gambling system.
In his turn Rick Newman, president of the Committee of Directors of the entity assureà of guarantees saying that the new establishment would not become a kind of gimmick for the purpose of creating new gambling modalities, over the existing ones.
The Association of Hotels and Tourism had first approved the move but now expressed its doubts, presupposing it might lead to disordered operation of games of chance.
In this connection Rick Newman stated that the Government is willing to maximize the economical potential of the Puerto Rican Lottery and the Additional Lottery without any subtle possibility of creating new modalities, similar to the existing ones.
Last year a video lottery project from the Association of Hotels and Tourism was rejected because of apt spread of games which were intended for private gaming sectors, pointed Newman. Newman advised to make some amendments to the legislative piece on the creation of a new corporation, most of them concern clear prohibition to operate lottery games and/or other games, different to the ones that are currently offered. In other words, the new corporation should not be authorized for gaming operations. In addition, Newman suggested that every proposed game which is different to the current ones have to be approved by the Legislative Assembly.
Casinos of Puerto Rico have 3,000 direct employments, which amounts to 20 per cent of the total employment in the hotel sector. Government expects to obtain additional US $ 500 million with the help of the planned corporation for the state budget.
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