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Web Shops 'Prepared To Offer Shares'

By SANCHESKA BROWN

Tribune Staff Reporter

sbrown@tribunemedia.net

BAHAMIANS will be allowed to purchase shares in “number houses” if the January 28 referendum on gaming is passed, campaign coordinator for “Vote Yes” Phillip Galanis said yesterday.

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Phillip Galanis

Mr Galanis said the web shop owners are prepared to “engage in an initial public offering” where Bahamians will be allowed to be a part owner in web shop gaming.

“Bahamians across the board will be able to buy shares in these companies. Just as was done with the Port on Arawak Cay, just as was done at Commonwealth Brewery as has been done at Cable Bahamas. They are doing this because they want to encourage persons to participate in gaming at another level and so they will put aside a percentage, say 30 or 40 per cent of the company, because naturally they would want the majority,” he said.

“What I have gathered is that they may come together and join one entity or maybe several entities, it really depends on what makes the most sense. Of course it will be regulated and it will all be transparent and monitored by the securities commission. They will have to do audits, they will need to be scrutinized but what they are saying is ‘we have no objections to offering our shares to the public’.”

Mr Galanis said the shares are an opportunity for gamblers and non gamblers alike.”

“Being able to buy shares in a web shop is a tremendous benefit to persons whether you gamble or not, whether you are involved in gaming or not because these companies make money and companies that make money pay dividends and there aren’t a whole lot of companies that are available to Bahamians nowadays in which they can put their money in. If you have $20 you can take $10 to gamble and $10 to buy shares. Those who engage in gambling will recognize that if they purchase shares they may not win in the web shop but they will certainly have a piece of the pie.”

“That changes the dynamics considerably and it really disabuses people of thinking it is only for a few. It is their commitment and I am going to try and persuade them to come out public and say this before the referendum because it is important.”

According to Prime Minister Perry Christie if the country should say “yes” to the legalization of web shop gaming in the country, tax revenues ranging from $15 to $20 million a year could be funnelled into the public purse.

The gaming referendum is scheduled for January 28.

Comments

242 1 year, 9 months ago

They remind me of pre-May 7th PLP's.... promosing and giving away anything to get votes

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Mayaguana34 1 year, 9 months ago

Piss on me and call it rain #SMT State owned national lottery, administered by a strategic partner (maybe one of these guys) for a fixed percentage and profits directed to an area of need agreed to by the Government - Nothing else is acceptable but unfortunately I dont know if this is an option - Voting NO until I am given the options!!

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Ironvelvet 1 year, 9 months ago

I agree 242, I'll believe it when I see it, but boy what a gimmick this is! lol First raffling off cars and houses now this. Galanis is a former PLP, the former MP for Englerton, so who knows....lol

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jackflash 1 year, 9 months ago

Maybe next they will buy the land around Dean's Bluehole and protect for generations to come!

That would be good!

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TalRussell 1 year, 9 months ago

Exactly how do you go sleep knowing you might financially benefit off misery of others?

Comrades I was right when I said the four preachers who seem to be the point ringmasters for the 'Vote Yes' campaign is losing momentum. Little did I realize that the numbers "bosses" were in deep enough trouble to devise this their latest snake oil campaign tactic.

This newest shares offering offer is I think going too damn far.

PM Christie are you paying any attention, or better still even care about many Bahamians may think amounts to questionable tactics being used by the numbers "bosses?"

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legalmindatwork 1 year, 9 months ago

I concur with the above. It seems like a last ditch effort by the number boys and the PLP as a way to garner votes from the Bahamian public. But if the vast majority of the public that agrees to legalising web shops are the same persons that are participating in it where are they going to find the money to purchase shares.....the persons that don't participate are largely the persons that are for the Vote No campaign and they MAY have the money to purchase shares but won't simply because of their reasons for voting no. The only persons that do stand to benefit from purchasing any shares would be the big boys that sit at the top of the pyramid that only sprinkle a few crumbs down to the broke masses.

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TalRussell 1 year, 9 months ago

Come on my Comrade lawyers you number over 1300 licensed by the Bahamas Bar Association, yet not one of you seems prepared to partition the Governor-General and the Courts to ask them to set aside the January 28, 2013 vote, on the grounds that the numbers "bosses" have no right to be offering shares to anyone when they have not sought and received permission from Bahamaland's government to so do. Or, did they PM?

We are talking here about licensing the numbers rackets, not some damn ordinary Bahamian business. It is still an criminal offense, punishable upon conviction to imprisonment at Fox Hill Prison, and here they are offering to sell shares

Lord Almighty catch me before I is faints, cause they gotta have Wimbledon sized sets balls bigger than ever before seen hanging on any living Bahamian men's. And, must feels like their sacks is in some way attached directly to them PLP's?

PM Christie you must stop this vote and stop it now.

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Ironvelvet 1 year, 9 months ago

Man TalRussell I hope you caught the news tonight to hear what the PM thinks as far as closing down the number houses before or even after the vote. I haven't laughed that hard in a long time! :-) The PM said how dare we close down these businesses that employ about 4,000 people. These people would then be out of jobs! LOL LOL I hope the next time the drug dealer gets arrested that they accept his argument that by arresting him he would be out of his job. LOL LOL Illegal is illegal man. I would think a lawyer like the PM would understand what that word means and the actions that should occur when something is found to be illegal.

And by the way, wouldn't this great PLP government find them a job? Isn't that what they promised if elected on May 7th? LOL I would think that the rich number bosses would definitely be able to provide a severance pay, or will they also be in rawson square protesting for their illegal severance and the MPs will be in parliament rowing over how to 'bailout' the severance pay for illegal work! LOL LOL

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dacy 1 year, 9 months ago

this _hit is not funny, perry is a desparate dangerous man...I would love to see his face on the 29th if the No vote wins. Perry em out of control!

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by dacy

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Ironvelvet 1 year, 9 months ago

You are right dacy it isn't funny, but my goodness I have to laugh to keep from crying. This is some serious stuff in the hands of a fickle voting block.

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TalRussell 1 year, 9 months ago

Comrade Ironvelvet nothing any PLP, be they the PM, a minister of the crown, an MP or paid hired gun PLP consultants, can any longer say or do that would surprise me, after they come out this public shares offering news. They might have millions but their bad timing on this one couldn't possibly be more bankrupt. They is in deep trouble and they know it.

I wouldn't worry too damn long over the number "bosses," cause from the sounds of the City Meat Markets broke down warehouse deal. just one phone call to the minister over at the National insurance Board and they could probably sell the NIB all they real estate holdings for a pretty bunch of Bahamians national insurance premium payments dollars?

Comrades best way for the 'Vote No' campaign to defeat this bunch is to poke fun at them. Be creative and flood youtube, facebook, twitter with all the poking you can create or pass on.And, it's a cheap but effective to match their millions?

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B_I_D___ 1 year, 9 months ago

Let's break it down...you play numbers...you give the numbers houses your hard earned money in hopes of hitting it big...let's face it, you don't, the whole set up is designed to fail and make massive amounts of money for the bosses. Along comes a 'share offering'...let's give the numbers bosses even MORE of your hard earned money, in hopes that their accounting is legit and we may see some money coming back into our pockets...MAY...I'm pretty sure they will cook the books so to speak so that the return on your so called investment is little to none. But maybe I'm oversimplifying it...or overlooking something...these are honest businessmen afterall, looking after the best interests of the little guy.

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John 1 year, 9 months ago

Basically what Perry said is whether the vote was yes or no, 4,000 jobs are at stake and since the PLP has thus far created little or no jobs since MAY..(All the road workers who built th roads that caused us so much "misery' are soon to be unemployed) that the after the vote the shops will remain open 'cause nobody eating his steak! So if the vote come up 'no' he gonna let the gambling house bosses do a recount on their one-arm bandit machines!

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John 1 year, 9 months ago

So dont be surpise when you get blinded by tyhem yellow shirts at the polls.. The government, according to PM Christie< does not have a horse in this race but the PLP gat a lot to lose!

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dacy 1 year, 9 months ago

I wonder if the International bodies are watching this play out, I dont care what list they put us on if it stop this hemoraging of common sense and common decency in this country, whatever it takes to wake us up as a people!

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by dacy

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JohnDoe 1 year, 9 months ago

And when these shares are sold, the money goes straight into the pockets of the numbers bosses. And what will they be selling? Their activity is illegal, therefore, all profits made to date are illicit and dirty money. Are they proposing to sell their illicit and dirty profits to the Bahamian people so that all of our hands may become unclean in this matter. This latest ploy is obviously an attempt to counter the arguement that is growing in momentum that only a hand picked few will benefit from this activity while the negative effects will be suffered by the entire society.

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jackflash 1 year, 9 months ago

The person playing 50 cents on this number and 50 cents on that number will not have the money to buy shares and they know that. They will end up buying the shares back using a family member or some front.

It's just a big smoke screen...

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dudu 1 year, 9 months ago

I don't know what to say about this, but it's an advantage to have shops online. It saves money and time. You don't know until you try it, because I use to be like this. But one day I've bought some flowers from Log Cabin Florist and I was very pleased. Try it!

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thomasrobert 1 year, 2 months ago

Of course it will be regulated and it will all be transparent and monitored by the securities commission. They will have to do audits, they will need to be scrutinized but what they are saying is ‘we have no objections to offering our shares to the public....facebook application

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dudu 1 year, 1 month ago

This is a very interesting and useful post.I think this is a good thing that the online store are prepared to offer shares because it is a good think for our economy.Currently I am working at GMT Auto Sales and the company started to offer shares a long time ago and turned out to be a very good think for us.

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3a06ezt 10 months, 1 week ago

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BahamasGamingAssociation 3 months, 3 weeks ago

https://www.facebook.com/pages/Bahamas-Gaming-Association/335105436640115

WHICH ON OF THE BELOW REIGNS SUPREME IN THE BAHAMAS?

The Bahamas Lottery and Gaming Act Chapter 387 Section 50 Persons prohibited from Gaming

Or

The Constitution of the Commonwealth of the Bahamas Chapter III – Protection of Fundamental Rights and Freedom of the Individual. Section 26 Protection from Discrimination on grounds of Race, Place of Origin etc.

The Bahamas Gaming Association stands by the Ideology that all human beings who are 18 years or older should be treated equally in all sectors of the Bahamian Economy which is enshrined in the Constitution of the Commonwealth of the Bahamas.

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