The Caribbean Island of Antigua and Barbuda is positioning itself to be one of the top destinations for Citizenship by Investment and gambling as well as a major hub for internet betting.
It has been announced very recently that the casino deal the government of Antigua has been working on with a Chinese firm has solidified and will change the landscape of the island paradise. The integrated resort and casino project, Antigua will be larger than the other huge casino project in the Bahamas. That one is also being built with Chinese backing. The $740.7m mixed-use tourism project was announced by the Prime Minister Gaston Browne who was recently put into office with a mandate to revitalize the economy of the island of low-lying limestone and coral islands. Citizenship By Investment Program will also act as a draw for future clients.
Looking closely at Antigua the introduction of tourist and gambling facilities is better than the alternative. Current environmental issues are preventing the country from following its agricultural activities for example. Water management is a major concern because of limited natural fresh water resources, is further hampered by the clearing of trees to increase crop production, causing rainfall to run off quickly causing erosion.
Meanwhile the newly sworn in Prime Minister Browne had this to say about the casino, five-star hotel, 1,300 residential units, a conference center, a 27-hole golf course, a marina and a commercial/retail/sports facility. The project will be built on Antigua’s Guiana Island, the Crump Peninsula and a pair of smaller islands. He said he… “promised the people that my administration would bring the type of investments” that would transform Antigua into “an economic powerhouse.” Attorney General Steadroy C.O. Benjamin said the project would boost local employment.
Antigua has been hit by a number of economic downturns in the past ten years so this is all welcome news.