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Guernsey Ripe for Casino Development

Money poured into the casino venture in Guernsey 'has not been wasted'. Commerce and Employment Minister Staurt Falla was quick to defend the hundred of thousands of pounds spent trying to set one up.

Although his department has said it would no longer actively promote the project, Deputy Falla said that it would always be willing to speak to anyone with proposals for developing tourism.

He said that the States had passed all the legislation and the regulator - the Gambling Control Commission - had been established. He said it had got everything in place for a casino development. Deputy Falla also claimed that a 500,000 UK Pounds estimate was excessive.

St. Pierre Park Hotel secured the license in September 2003 on condition that it underwent a multi-million pound revamp. Owner CI Traders subsequently tried to renegotiate the agreed investment and when unsuccessful, dropped the project.

But casino critic Deputy Graham Guille, speaking personally, said that he was dubious whether the current States would be minded to grant another license. And even if it did, he doubted if a casino could ever be successful outside town.

A customer profile released in 2003 suggested that the casino client base would be 20% visitors and 80% locals.

�The very success of the finance industry relies on the island being above suspicion with regard to such issues as money laundering and financial crime."