The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A former PLP MP yesterday backed the Government’s decision to allowing web shops to remain in operation prior to their legalisation, arguing that this was a “practical necessity” that had generated “sorely needed” tax revenues.

Philip Galanis, principal of the HLB Galanis accounting firm, told Tribune Business that the Government’s decision to allow approved web shop operators to remain open during the transitional period was the best approach.

His comments were in sharp contrast to those recently expressed by the Grand Bahama Chamber of Commerce’s president, Kevin Seymour, who this week slammed the web shop gaming legalisation process as “fundamentally flawed”.

He had argued that “nowhere else in the world” were companies permitted to carry on engaging in unlawful activities prior to becoming legalised, licensed and regulated.

Mr Seymour said the Bahamas had permitted this to happen with the web shop gaming industry, when it would have been better to temporarily suspend its operations - and give the Government, via the Gaming Board - the necessary time to conduct proper due diligence on the applicants.

Mr Galanis, who was one of the co-ordinators for the ‘Yes Vote’ campaign to legalise web shop gaming, told Tribune Business: “I think it was a practical necessity to have allowed this to continue. It made no sense, in my opinion, to throw persons out of employment.

“It’s been nearly two years since the referendum. Those persons would not have been employed; the industry would have been put on hold. A lot of benefits have accrued to the economy, to vendors, to the employees, to the owners and, most importantly, the Government would have lost a tremendous amount of taxes. They have gained a tremendous amount of taxes, which we know is sorely need in today’s environment.”

Mr Galanis added: “I think it was the best decision. I have no reservation about that whatsoever. I really commend the Government for doing so; for being bold enough and brave enough in the face of a ‘no’ vote.”