Another runner enters the race to host Bermuda’s first casino

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In the British Overseas Territory of Bermuda and the 410-room Hamilton Princess Hotel and Beach Club has reportedly announced that it will follow The St Regis Bermuda Resort in applying for official permission to open a casino.

According to a Saturday report from The Royal Gazette newspaper, the move follows the 2016 passage of legislation that allows luxury hotels on the small archipelago of approximately 64,000 people to feature casinos offering a wide variety of games. The five-star Hamilton Princess Hotel and Beach Club is purportedly operated by Canadian hotelier Fairmont Hotels and Resorts and sits on 15-acre plot of beachfront land situated a mere 25-minute drive from the jurisdiction’s LF Wade International Airport.

Adventurous objective:

The newspaper reported that the Hamilton Princess Hotel and Beach Club released an official statement late last week in which it stated that its Hamilton Princess Casino Limited subordinate has ‘the intention’ of applying for a casino license ‘under section 114A of the Companies Act 1981’. The move purportedly comes about a year after The St Regis Bermuda Resort, which is owned and operated by Marriott International Incorporated, made a similar move although no gambling has yet launched despite earlier assurances from Bermudian Premier David Burt that such entertainment would be live before the conclusion of 2021.

Looming finish:

The Royal Gazette reported that the Bermuda Casino Gaming Commission disclosed in late-January that the 127-year-old Hamilton Princess Hotel and Beach Club, which is colloquially known as ‘the pink palace’, had entered the third and final stage of the casino licensing process. This due diligence phase could purportedly now be completed by the end of the year to see the well-known property given the green light to host Bermuda’s first-ever gambling-friendly area.

Earlier alliance:

All of this reportedly comes some five years after American casino operator Century Casinos Incorporated revealed that it had applied for permission to run the gambling services then being envisioned by the seafront Hamilton Princess Hotel and Beach Club. The Colorado-based firm said at the time that it was looking to bring a 12,000 sq ft gaming floor to the Hamilton property featuring an array of 200 slots as well as an automated roulette machine and 17 mass-market and high-limit gaming tables.

Read a statement from Colorado Springs-headquartered Century Casinos Incorporated…

“The company through its Century Casinos Europe GmbH subsidiary entered into a long-term management agreement with Hamilton Properties Limited, which is a Bermudan company that owns the Hamilton Princess Hotel and Beach Club. Pursuant to the management agreement, Century Casinos Europe GmbH assisted with the license application and would manage the operations of the casino should a license be awarded. In addition, Century Casinos Europe GmbH would also provide loan funding in the amount of $5 million for casino equipment.”