HOD bets Casino Bill, Senate deals with it

Since its introduction, HOD has diligently worked on the Casino Bill with hope that its passage into law would provide for a means through which much needed revenues could be generated.The Casino Bill is an legislation to amend Title 17 of the Palau National Code to “permit controlled gaming to attract high-end tourists to the Republic, to provide appropriate penalties to those who violate this law, and to establish the Palau Casino Gaming Control Commission to supervise controlled gaming in the Republic of Palau.”According to HOD’s standing committee – Committee of the Whole – report, the executive and legislative branches of the government have failed to work together, “despite several presidential attempts,” to address the issues that are now threatening the financial viability of the people in Palau and the government.  The report lists the rise in fuel costs as the greatest factor, which has contributed to a higher cost of living to the people of Palau.The cost of fuel, the report states, affects nearly all aspects of life for the people of Palau.  It has impacted people’s livelihoods to a point where many “citizens can no longer afford the necessities of life.”  The report indicates that the government must make an effort to offer relief for the people and that each of the branches of the government must work together to find ways to generate “new revenue outside of taxation.”Through intricate studies, the committee states in its report that allowance of new business (especially that which enhances the tourism industry) opportunities is thus far the “best way” to generate new revenue – exclusive of taxation – that could indirectly lead to generation of more revenue as the businesses grow.The Casino Bill, the report points to, would lure more tourists to Palau.  The Casino Bill will enhance the tourism industry, as it would call for construction of luxury hotels to house the casinos, which would mean more job opportunities for the citizens.The report also stipulates that the HOD committee is well aware of the concerns and dangers – compulsive and addictive gambling, money laundering, and other criminal activities – that are known to be potential effects attributed to casino operations.  However, the report indicates that the bill, as introduced, is set to “create a heavily regulated system of controlled gaming” to prevent the occurrence of the dangers.The Casino Bill, according to HOD press release, passed through the HOD on its third and final readings on June 10, and has been forwarded to the Senate on June 11.  Moreover, the Senate has passed it on first reading and has assigned to the Tourism Development Committee.Further, the HOD “maintains that Palau must look for new ideas, new sources, new revenues to stimulate the economy of Palau.”  The Casino Bill, according to the press release, that HOD has passed and is now pending in the Senate is “one of the solutions” – if there are that many – that could generate millions of dollars to help ease Palau’s current economic status.