Caravelle Group

“Senate Pushes Gaming Bill to August Hearing”

Senate Pushes Racetrack, Gaming Bill to August Hearing in Special Session The Virgin Islands Senate postponed a vote Tuesday on a racetrack and gaming bill, scheduling August hearings amid disputes over St. Croix’s 10-year wait and Southland Gaming’s long-term gaming provisions.

“The proposed Southland deal: Who does it actually serve?” Another thought-provoking post from the VIAC.

The Governor is pushing legislation that would permanently guarantee 50% of lottery revenues to a single private gaming company — Southland Gaming — by writing that percentage directly into law.

A sitting Senator has raised the alarm in writing. His concerns are specific: it permanently ties the government's hands regardless of what the market looks like in the future. It shifts significant public gaming revenue away from government priorities before the Legislature even gets to appropriate it. And it could actually reduce competition, because future bidders would already know the law guarantees a fixed return to someone else.

Public money belongs to the public. A statute that locks in a windfall for one private company, with no competitive bidding, no flexibility and no accountability to future administration. Is this an economic development or is it a giveaway dressed up as one?

Virgin Islanders deserve to know what they're getting in return, and who made this deal happen.

A good read about the proposed bill: “They said it was about horse racing. But is it?”

The Southland Gaming proposal was presented as a plan to rebuild and revitalize horse racing in the Virgin Islands — restoring the Randall "Doc" James Racetrack on St. Croix and managing the Clinton E. Phipps Racetrack on St. Thomas. But critics, horsemen and rival operators say the reality looks very different. The agreement, they argue, is far more focused on expanding Video Lottery Terminal gaming centers across the territory than on investing in the sustainability of local horse racing.

Southland would operate under a separate regulatory framework from existing casino operators, bypassing the Casino Control Commission and enjoying tax advantages that established businesses don't get.

Meanwhile, no competitive bidding. Limited public transparency. And a legislative process that has drawn serious concern from senators on both sides.

Horse racing is part of Virgin Islands culture and community life. It deserves real investment. What it doesn't deserve is to be used as a cover that permanently locks out competition and redirects public revenue to a private company.

Join us for a free concert & block party in Christiansted on Saturday, August 1 to help celebrate 10 years on St. Croix for The Caravelle Hotel & Casino. Details below.

Celebrating 250 years of freedom, courage and the American spirit. Happy 4th of July from the Caravelle Group.

The Caravelle Group would like to take this moment to reflect on the power of freedom as we enjoy Emancipation day and pay homage to our ancestors. Honoring our past; celebrating our present; and building our future together! Emancipation Day blessings to one and all!

https://www.virginislandsdailynews.com/opinion/protecting-gaming-integrity-while-revitalizing-horse-racing/article_b39f251d-381f-42eb-b4f7-c4574c782481.html

Protecting gaming Integrity while revitalizing horse racing Dear Editor,

VLT's are a very bad deal for the island of St. Croix. Here are some interesting facts.

A quick side by side of "Where The Money Goes", the Casino Revenue Flow versus the VLT Tax Revenue Flow. This is an illustration of how every $1 of tax revenue is distributed in the USVI.