Closed casinos owe the government more than $57 million, according to the most recent auditor general’s report, that was tabled in the House of Assembly yesterday.
The report for the year ended June 30, 2018 detailed that there was $57,579,297.47 in outstanding taxes to the Gaming Board from the casinos that were primarily on Grand Bahama.
According to the report, the Lucayan Beach owed a total of $22.1 million; the Casino at Bahamia owed a total of $13.2 million; Carnival Leisure Industries owed $4.07 million and Isle of Capri $124,955.55.
Many of these properties have been closed for years.
The remainder was deferred taxes from Grand Bahama in the amount of $10.75 million.
Auditor General Terrence Bastian recommended in the report that the government take urgent steps to collect outstanding taxes, including interest.
“We further recommended that discussions with the Ministry of Finance and the Treasury Department continue, in an effort to clear the blocks of the amounts owed by the closed casinos, if deemed uncollectible,” the auditor general said.
He noted that the administration of the casinos and gaming houses is managed by the Gaming Board and the responsible minister and that the involvement of Treasury relates only to the receipts of the taxes, since the funds must be paid into the Consolidated Fund.
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source https://thenassauguardian.com/govt-owed-tens-of-millions-by-closed-casinos/
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