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Malika Cartwright , executive director of the Bermuda Hospitality Institute, echoed those sentiments regarding the need to provide extensive preparation and guidance for the introduction of such a significant and unique industry.

For more on Bermuda's plans to get into the gaming game, see the Royal Gazette. Presently, however, Walters faces a different set of odds in the form of multiple counts of wire and securities fraud connected to stock trades he made and significantly profited from in — trades thought to have been illegally aided by insider information.

Walters appeared to have caught a break late last year when a report emerged that an FBI agent working the case had leaked information to the media, and in January attorneys for Walters filed a motion asking for the case to be dismissed on the basis of government misconduct.

But on Wednesday U. District Judge Kevin Castel ruled against the motion, reports Reuters. In his ruling, Castel lamented the agent's disclosures and other possible leaks as "concerning," but did not believe in Walters's case they affected "the fundamental fairness of the process that resulted in his indictment.

Davis meanwhile has pleaded guilty and is cooperating with the government on the case. Among others drawn into the investigation was professional golfer and friend of Walters Phil Mickelson , who also netted significant sums from trades made in and Trades made by billionaire business magnate Carl Icahn were also investigated as part of the same inquiry, though Icahn likewise faced no charges related to the case.

For more regarding the ongoing case against Walters, see Reuters. Finally — and speaking again of Icahn — regular readers of Inside Gaming are aware of the ongoing saga of the now-closed Trump Taj Mahal in Atlantic City, a property Icahn took ownership of a little over a year ago after helping Trump Entertainment Resorts out of bankruptcy by making the company a subsidiary of his Icahn Enterprises.

After early intimations he'd be willing to invest in the hotel-casino, Icahn soon began expressing pessimism about its future, complaining initially about so-far unsuccessful efforts by some to allow the building of casinos in the north part of New Jersey , then talking of the need for tax breaks from the city and county and to cut workers' compensation in order to justify further investments.

Then after the closing of the Taj Mahal in October , lawmakers' efforts to prevent Icahn from being able to obtain a casino license within five years further discouraged Icahn from desiring to continue ownership of the property.

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Supporters also argued that jobs would be created for locals through the new resorts that would be built. While there were many who expressed disappointment that the question was never put in front of the general public in the form of a referendum, overall, most lawmakers were on board with the prospect of expanding gambling.

As of March , no resorts have been built here, though regulations have slowly been developed since the bill was passed. The Bermuda Casino Gaming Commission has been set up to deal with oversight and regulation of the industry, and rules on how sites for the resorts will be chosen have been put into place.

The head of the gaming commission recently said that despite rumors, no sites have yet to be selected for the resorts.

Instead, the territory has seeming taken a laissez-faire approach, allowing the industry to exist without taking any steps towards regulating the practice.

What does this mean in practice? On the other hand, there is nothing to stop Bermudians from playing on foreign sites, something many do without any risk of repercussions from the government, which seems content to stay out of the business of online gaming, at least for now.

Not everyone wants to offer their games here: But that still leaves many reputable developers whose games can be played here.

The request for proposal process has yet to begin, and with the gaming commission promising that this process would be transparent, we should have plenty of warning before anything is decided.

If someone wants to build a new integrated resort, the timeline could even be set back by years. In even the most optimistic case, it should be a couple years before tourists are playing slots and blackjack on the island.

Then there is the question of online casinos in Bermuda. One of these proposals is the addition of an online gambling industry.

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