By Orville Clarke, Freelance WriterSTATE MINISTER for Finance, Fitz Jackson has said that the pending divestment of Caymanas Park does not mean the government will be selling the racing complex.
In a one and one interview on Wednesday, Jackson who has portfolio responsibility for the racing industry, said "the government has already taken a decision to divest the operations of Caymanas Park which will include the long term lease of the racing plant
"Government will not sell the place", he declared bluntly.
"We don't want what we have there to be converted into any other use. We want to preserve Caymanas Park as a horse racing facility with some entertainment oriented diversions", he added.
He said the government objectives re divestment are to facilitate the physical development of the racing facilities as well as to expand the entertainment package that will be available from Caymanas Park which he said is necessary for the viability of the racing facility.
"Horse racing alone cannot sustain the development," he said. "There has to be some entertainment mix and the bidders will no doubt put some offerings on the table.
"We have not finalised a lease agreement," revealed the Minister. "Currently a valuation is being done... We are in the process of putting together broad perimeters for the lease arrangement and this will be available in the next two months".
While declining to put a price tag on the project at the same time not wanting to define the role of CTL in any lease agreement at this stage, Jackson disclosed that a number of entities have expressed an interest in submitting proposals for the operations of Caymanas Park. He added that divestment could come by early next year.
Turning to other matters, Jackson confirmed that he has accepted recommendations from the Betting, Gaming and Lotteries Commission to ease restrictions on the bookmaking industry, these having to do with the extension of opening hours, advertising and the provision of licensing over longer periods, etc.
According to Jackson, these are awaiting Cabinet's approval as legislative changes are required.
However, he warned that full computerisation by the bookmakers is a must in the not too distant future.
"Penalties will be made more realistic for non-compliance", he said. "We are stepping up our enforcement of breaches throughout the whole gaming industry", added the Minister who pointed specifically to a recent crackdown on an illegal numbers operation in the Corporate Area as part of the new thurst.
