Regulatory agencies merged
Punters should expect more changes in the wake of next Tuesday's official takeover of horse racing operations by Supreme Ventures Limited in the wake of the divestment of Caymanas Track Limited.
Finance Minister Audley Shaw yesterday announced that the three agencies which regulate local gambling - Jamaica Racing Commission, the Betting Gaming and Lotteries Commission and Casino Gaming Commission will be merged to form the Jamaica Gaming Commission.
The merger will be completed "within a matter of months", the finance minister told a joint Government of Jamaica/International Monetary Fund press conference at the Office of the Prime Minister, Jamaica House.
Highlighting the divestment of Caymanas Track Limited as an example of government's commitment to public sector reform, Shaw said any initial fallout in terms of job losses would be insignificant and temporary.
"In that takeover, we expect about $1 billion additional investment - it's gonna be bigger and better," he boasted. "More jobs will be created."