Virgin Islands, United States Casinos
The Virgin Islands of United States are a group of islands in the Caribbean that are an insular area of the United States. The Virgin Islands of United States consist of the four main islands of St. Thomas, St. John, St. Croix, Water Island, and many smaller islands.
The U.S. Virgin Islands are known for their white sand beaches. As far as the gaming industry is concerned, people are gradually realizing the potential and the entertainment that these Virgin Islands hold. Recently the Virgin Islands are making news as several organizations want to set up their casinos or racinos over here.
In the St. Croix Island of the Virgin Islands of the United States, there may be another development project soon. In this project, a lease for a major hotel in Betty's Hope would be signed by USVI Governor Charles W. Turnbull.
The project is that of a hotel casino, with conference center and cultural theme park on around 500 acres of Virgin Islands Port Authority (VIPA) land near the Henry E. Rohlsen Airport.
An investment firm based in Reston, Va., TransCapital, had announced in a press release that it has reached a lease accord with VIPA. The lease now goes to Turnbull for his signature.
Darnell Dailey, a principal of TransCapital, said VIPA chosen favorably on the lease and the company is anxiously awaiting the governor's approval.
This is also in the area is the Randall 'Doc' James race track, which features thoroughbred horse racing. Fast cars from all around the Caribbean compete at the St Croix Drag Association Track a mile east of the airport.
As reported by a recent news service: "The Mashantucket Pequots announced Wednesday that they plan to use proceeds from the sale of their high-speed ferries to develop a beachfront resort and casino in St. Croix in the U.S. Virgin Islands.
The tribe said in a prepared statement that it holds a majority share in a development company that owns a 600-acre beachfront parcel in St. Croix. The minority shareholder, William and Punch Partners, arranged for $3.9 million in financing to purchase the property a year ago, according to Internet reports.
Preliminary plans call for a beachfront hotel, marina and casino. Condominiums and a golf course also are being considered.”
Again, another news on the recent development of the gambling scene in Virgin Islands says that Scientific Games Corporation (NASDAQ: SGMS) announced that its subsidiary Autotote Enterprises Inc. completed an agreement with TRAXCO, Inc., which is a subsidiary of the Treasure Bay V.I. Corp. to supply race-book services as part of Autotote's turnkey off-track betting (OTB) services. The agreement is for 5 years and is worth $3 million.
TRAXCO, Inc. recently completed a special franchise agreement with the St. Croix Racing Commission to open a race-book and operate the existing track on St. Croix. Autotote will supply OTB services to TRAXCO, Inc. at the Divi Carina Bay Casino operated by Treasure Bay V.I. Corp and simulcast center at the Randall "Doc" James Racetrack in Christiansted, and other satellite OTB locations on St. Croix to be developed later.
Bernie Burkholder, president of TRAXCO, Inc. said, "We believe offering a race-book to our clients will enhance our product and we are excited about our association with Autotote." There are 8 other Divi Caribbean island resorts including locations on Aruba, Barbados, Bonaire, St. Maarten and Cayman Brac.
Rick Pullman, president of Autotote Enterprises, said, "We are extremely pleased to have the opportunity to work with TRAXCO, Inc. and the Treasure Bay group in this exciting new offering at their first-class gaming resort. Our record of success in supporting similar race-book operations in St. Thomas and St. John, as well as the casino race-books at Isle of Capri and Mohegan Sun, will serve us well in St. Croix where the islanders are avid racing fans."
The first race-book at the Divi Carina Bay Casino & Resort is scheduled to launch in the first quarter of 2005.