A co-owner of the St Regis in St George’s has spoken publicly for the first time about why a casino has not opened at the luxury resort.
Laura Purroy, a representative of Hotelco Bermuda Holding Ltd, told The Royal Gazette that the refusal of local banks to handle the proceeds of gaming ultimately led to a decision to pull the plug after several million dollars had been invested and a casino was “fully in place”.
She said the hotel, which was also dissatisfied with the regulatory regime on the island, did not pay its $600,000 license issue fee to the Bermuda Gaming Commission once it became clear the project could not proceed.
