The proposal seeks to bring the annual total to USD 500,000. Additionally, the racetrack was urged to pay its debt and it is proposed to establish severe fines should this occur again.
Puerto Rico.- Representative José Aponte Hernández announced that he will present a project in the next legislative assembly to amend Law 74 of April 6, 2006 to increase the contribution made by the Hipódromo Camarero to the Puerto Rico Compulsive Gamblers Assistance Program (PAJC). According to this project, the contribution would double from USD 250,000 to USD 500,000.
Aponte Hernández said that the sports betting industry generated USD 186m in 2023 and that this was added to the operator's earnings, in this case, the Hipódromo Camarero. He also noted that the “Puerto Rico Compulsive Gamblers Assistance Program Law” was created 18 years ago and merits review.
“According to multiple studies, there are around 55,000 citizens in Puerto Rico with a gambling addiction. To combat this terrible social evil that causes so much suffering to families, Law 74 of 2006 was implemented and it stipulated that the company managing the pool betting on horse races must disburse USD 250,000 annually to the PAJC. Remember that at that time there were no sports betting. Now there is, and the racetrack has a license for these betting terminals at horse betting agencies, as well as its own facilities,” commented the representative.
In the same way, Aponte Hernández again asked the management of the Hipódromo Camarero Race Track to pay the debt it has with the PAJC, which amounts to USD 2.5 m.
The representative explained that to ensure the racetrack complies, a progressive mechanism of fines should be available in case the stipulated payment is not made. “Another amendment will be presented which sanctions the Hipódromo Camarero if it fails to make the annual payment to the PAJC. On the first offense, the fine would be up to 20 percent of the amount to be paid, the second violation involves a temporary suspension of the license for sports betting systems, and the third violation would lead to permanent cancellation,” he explained.
See also: The Hipódromo Camarero of Puerto Rico under investigation for possible violations of the betting law
The company plans to build a 5-star hotel with a casino.
Timor-Leste.- Asia-Pacific Strategic Investments, a Singapore-based investment holding company, has announced that it has signed two cooperation agreements to acquire an exclusive casino licence and set up a bank in Timor-Leste. The company said it would build a 5-star hotel including a “respectable, high-security, law-abiding casino.”
The company has agreed to develop marketing to promote the venue to international customers. It will also propose strategic plans to promote “seaports, scenery, whale/dolphin/crocodile watching, yachting and scuba diving.”
Asia-Pacific Strategic Investments said it must provide Timor-Leste’s government with a business plan detailing the number of gaming tables, hotel rooms and other amenities as well as tourism and transportation plans within three months of the execution of the agreement. It will be responsible for the operation of the hotel and casino, while the government will ensure regulatory compliance.
