Guyana Gaming License

Pursuant to Sections 27 and 28 of the Gambling Prevention Act, CAP. 9:02, (As amended by the Gambling Prevention (Amendment) Act No. 5 of 2007), an individual or company that proposes to establish and operate a Casino in Guyana must first obtain a Casino Premises License and a Casino Operating License from the Gaming Authority.

The Act permits the Gaming Authority to issue a License to an applicant, an associate of an applicant or licensee who qualify under the fit and proper criteria set out and described under subsection 1(a) to (e) of section 29A.

The license is regulated by the Guyana Gaming Authority

Under the Laws of Guyana Chapter 9:02 Gambling Prevention Act (Establishment of Gaming Authority) Regulations, the Gaming Authority in granting licenses to Casinos must determine whether or not the premises satisfy the minimum requirements for the granting of same.

Types of Gaming Licenses

  1. Casino Operator’s License
  2. Casino Premises License
  3. Casino Operator for Gambling machines (per Unit)

Legal Requirements

Sr.

No

Element Requirement(s)
Entity Requirements
  • Partnership
  • Corporation
  • Liability Company
  • Any other entity as maybe approved by the commissioner
Director’s Requirements The licensee will need at least 1 (one) natural person Fit and Proper Directors and can be of any jurisdiction
Shareholder requirements The licensee will need at least 1 shareholder
MLRO and DMLRO The Compliance Officer must ensure the Ant Money Laundering regulations are followed and can be of any jurisdiction
Audited accounts Every member shall appoint one or more qualified and experienced external auditors for its accounts for every financial year. Prior written approval by the Council will be required before appointing an auditor.
Guyana Premises The Premises must be specifically approved by the Board before use and comply with the following

minimum standards:

  1. The Premises shall be situated only in a City, Municipality or Town Council.
  2. Be of minimum size of 7000 square foot;
  3. Hotel must have a minimum of 150 rooms;
  4. The structure must be permanent;
  5. It must be away from a School, a Hospital, a Market, a place of Worship or Government offices;
  6. Have accessible facilities of convenience and a common area for clients;
  7. Adequate and secure private parking for customers of the casino
Minimum Capital Requirements The Council determines and publishes, in relation to a type of gaming or to specified circumstances, a minimum and maximum fee and gambling yield, with any fee for any band of gambling yields in between, the relevant annual fee for a licence is –

  • the fee notified by the Council to the licensee no later than 14 days before the fee is due; or

Ongoing Obligations

  • Where a licensee wishes to renew a licence, he shall, not later than the 15th day of January in every year, make an application in the prescribed form accompanied by the prescribed fee to the Bank to renew the licence
  • Every Casino Licensed applicant shall comply with the Anti-Money Laundering and Countering the Financing of Terrorism Act 2009.
  • Every licensee and money transfer agent shall maintain a proper account in which shall be recorded any particulars prescribed by the Bank by regulations, notices or guidelines for a period of five years after the termination of the business transaction so recorded.

About Valsen Fiduciaries

Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.

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The Valsen Advantage

  • We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
  • Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  • We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  • We have a full in-house compliance support for all compliance requirements with the regulator and service providers

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