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VI delegation explores gaming industry tips in Macau
Opposition Member Honourable Lorna G. Smith, OBE (AL), a key member of the delegation, described the trip as "tiring but very rewarding," citing Premier Dr the Honourable Natalio D. Wheatley’s engagement with top-tier stakeholders and his impactful interview with the China Business Law Review, a leading journal in Asia and India.
Physical presence
Hon Smith was at the time discussing the High-Level Delegation—led by Premier Wheatley—with Acting Communications Director at the Government Information Service (GIS), Mrs Karia J. Christopher, and noted that one of the major takeaways was the necessity of “physical presence” in Asia.
While virtual meetings have become a global norm, the VI's delegation physical presence in Asia, reaffirms the value of in-person engagements. Further qualifying her position, Hon Smith told Mrs Christopher, "The fact that people filled two separate roundtable sessions to capacity speaks volumes about the importance of our presence here on the ground."
The delegation was accompanied by key regulatory figures, including Shane Baptiste and Dr. Ricardo Wheatley, who she reiterates, play crucial roles in maintaining VI’s financial credibility in Asia. "Having regulators physically present builds confidence among stakeholders; Being here in person allows us to address concerns, answer questions, and reinforce our commitment to the industry.”
Gaming industry
Meanwhile, beyond financial services, the delegation, she disclosed, is also examining closely, the transformative impact of Macau’s gaming industry.
Macau, often dubbed "the gaming capital of the world," has significantly outpaced Las Vegas in revenue, a fact that deeply impressed the VI representatives.
"The revenue generated from Macau’s casinos surpasses Las Vegas many times over," Hon Smith observed, adding that more strikingly, "50 percent of gaming tax proceeds are channelled directly into education," funding institutions such as the University of Macau and others.
Drawing comparisons to the Virgin Islands, Hon Smith expressed admiration for Macau’s infrastructure and cleanliness.
"When you compare Macau and the BVI, the difference is striking; The streets are immaculate, the city is beautifully manicured, and the wealth generated is clearly reinvested into the country’s development."
The VI, she reminded, has already passed legislation to establish a Gaming Commission, and Smith expressed optimism that revenues from this emerging sector could be similarly allocated to beneficial causes. "I have no doubt that the proceeds we generate will be put to good use, much like Macau has done with its focus on education."
According to the former Director of the BVI Hong Kong Office, "This visit has been a testament to the BVI’s commitment to maintaining its position as a global financial leader; Being physically present in these discussions makes all the difference.”
Improvements to legislation coming
The Gaming and Betting Control Act was passed in 2020 during the Ninth Sitting of the Second Session of the Fourth HoA; however, Governor Daniel Price stated in the Speech from the Throne on January 7, 2025, that improvements to the legislation are to be made during the Second Session of the Fifth House of Assembly (HoA).
The Wheatley government also promised that the legal mandate of the Gaming Commission would be initiated.
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