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Torres open to internet gaming
Governor asks Legislature to look into internet gaming to generate additional revenue
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Posted on Sep 07 2021
Gov. Ralph DLG Torres said Friday that he supports internet gaming in the CNMI if the Commonwealth Casino Commission’s projection holds true—that it can generate as much as $28.14 million in gross gaming revenue for 2022 alone.
When asked during his regular radio press briefing if he is open to the establishment of internet gaming in the Commonwealth given the CCC’s projection, Torres said the CNMI has funds now through federal programs but, at the end of the day, the CNMI needs additional revenue.
He said he asked the Legislature to look at revenue-generating bills and that new industries are opportunities to generate revenue. “I’m not asking to tax our community or additional tax for that matter,” the governor said.
Torres hopes the Legislature can look into internet gaming and act on it. “I hope that we can have that industry here in the next year or so. That’ll help all of us—the economy, hiring new people, new opportunities,” he said.
The governor hopes that will also have ripple effects in a way where other businesses might be enticed to come in and do other businesses in the CNMI.
Citing his study and market research on internet gaming, CCC executive director Andrew Yeom recently informed the CCC board of directors that based on his projections for 2023, 2024, and 2025, the CNMI can collect $112.56 million, $252.63 million, and $449.4 million, respectively.
Yeom, who has over 14 years of online gaming executive background in South Korea, pointed out, though, in his presentation before the CCC board that it’s only a projection, which means it could be wrong.
Yeom said if all works well with internet gaming in the CNMI, a CNMI-based online gambling site could have the potential to attract up to 2.1 million online users annually, generating roughly $450 million in gross gaming revenue starting in 2025 and beyond.
He said the growth in online casinos is primarily due to user demand for a digital experience, COVID-19 complications around brick and mortar casinos, and more states legalizing online gambling products.
Rep. Joseph Lee Pan T. Guerrero (R-Saipan) has filed House Bill 22-47 that seeks to allow senatorial districts to establish and regulate internet gaming.
