The country’s largest tourism destination, Belize has developed a gaming market in recent years with the construction of hotels and casinos and the development of a large number of casino properties, including the multi-million dollar Cielo Vista, Belize. The government opened up the gaming sector to private operators in 2014. And while Belize is still relatively small with only two well-known hotels having casinos (four casinos in total), there is a great deal of growth to be seen here in the coming years.
This is largely due to the fact that Belize, unlike much of the Caribbean region, is an established tourist destination, and the gaming sector can therefore grow much faster.
Belize Gaming Market: Government Regulation
Gaming has grown tremendously in recent years, and the government opened the door to operators, allowing private businesses to establish gaming establishments. Prior to 2014, gaming was only conducted by the Belize Tourism Board, and there were two casinos.
The newly opened gaming market is currently relatively small, with just four casinos (not including the two BDB-owned resorts). But with the construction of more hotels and resorts that will become licensed to offer gaming, this market is set to grow rapidly. The same tendency is noticed for the best online casinos in Belize ,the undisputed leader of which is King Billy casino, whose number is growing month by month. By the way, you can read an independent King Billy review by this link. And you can find other reputable and trusted Belize online casinos at the Casinority Belize reviewer site. So check their ratings from time to time.
Belize Casino Licensing
All operators must be authorized by the Department of Licensing and Regulation, and the government regulations provide a large number of conditions that must be met. It is worth noting that these operators must be registered with a gaming license, so they must be members of a reputable organization such as the International Game Tested and Approved Association (IGTAA).
IGTAA is the only gaming association in the world that offers a testing process for gaming products and gaming machines. Each member must also demonstrate that it meets the specific regulations of the country where it is licensed to operate.
Casinos in Belize
In Belize, the first casinos to open were the Cielo Vista in Cayo and the Grand Lucayan in Ambergris Caye. Both were the country’s first licensed and approved casinos, and they are operated by the Belize Tourism Board. Both were grand openings in the gaming market in Belize.
The Cielo Vista had a lavish opening, which featured music and fireworks, and the Grand Lucayan had a huge gala event. Both casinos are large resorts and feature all the standard facilities that can be expected from any casino – there are restaurants, bars, gambling tables, slots, other machines, etc. The first new casinos in the country, in 2014, were the casino hotels operated by Belize Tourism Board and based in San Pedro. These were the most significant openings in terms of a number of licensed establishments in the country’s history. We expect that the number of casinos will grow in the future, and gambling fans will have even more casino venues to choose from. At least, the legal side of the business allows for it.
The Future of Belize Gambling Market Development
This is a major shift in the development of the gaming market in Belize and the opening of the first commercial casinos. Previously, the only casinos were operated by the Belize Tourism Board, and there were no licensed private businesses at all.
Belize is a small country with a relatively limited tourism market, and the opening of commercial casinos has made a huge difference in the development of the country’s tourism. This is largely because they are larger hotels that can compete more effectively against the large hotels of the other Cancun resorts, for example. So more to come.