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| Business |
| American Palace gets casino licence |
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by
Leonard Sharra, 31 October 2002
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Tourism, Parks and Wildlife Minister Bernard Chisale on Wednesday urged American Palace Limited, a foreign firm which will be operating a casino in Lilongwe to comply with the Gaming Act and regulations in force to ensure a money laundering, crime and prostitution free industry.
Chisale made the remarks as he presented a casino licence to American Palace company at the ministry’s premises at City Centre in the Capital.
“As you know, gaming in the past was not permitted in many countries in Europe, America and Africa. This was so because a lot of people associated it with evils such as crime, money laundering, drug abuse and prostitution, among many evils. It thrived in secrecy as an underground profession or trade.
“However, in recent years, governments in Europe, America and Africa reviewed their policies and decided to legalise gaming. In Malawi, legislation to legalise it was passed in 1996 and the Act and regulations became operational in August 1998,” he said.
The minister said the objectives of introducing gaming in Malawi were to create jobs for Malawians, earn foreign exchange for the country, generate income, reduce poverty and provide recreation.
He hoped that the American investors would comply with the Act and regulations in force.
Chairman of the Malawi Gaming Board, Emiliana Tembo, said American Palace was a second company to be issued with a casino licence after Kairo International, who are in partnership with Malawi Development Corporation.
.Director of American Palace, Chris Papachristoforou, who was in the company of his local partner, Duncan Gumbi, said it what was now remaining was for his company to perform. |
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