Comparison with Dominican Republic and Puerto Rico (for Bahamas)

The Caribbean region is often perceived as a single "game direction," but the regulatory and market models of countries differ markedly. For the right strategy of the operator or author of the content, it is important to understand how the Bahamas differ from the Dominican Republic and Puerto Rico - in the admission of players, the device of the online segment, the role of the state and the connection with tourism.

1) Basic model logic

The Bahamas is a classic "casino for tourists" model: resort casinos are built into mega-complexes (Atlantis, Baha Mar). Historically, residents are not allowed to play; residents left a separate "home" segment (web-shops) with hard KYC/AML. There are no online. "Bs" licenses for everyone: only limited interactive/mobile formats tied to a land-based casino, and separate rules for web-shops.

The Dominican Republic is a massive resort market with admission of local casino players. Casinos are traditionally tied to hotels/resorts (including Punta Cana, Santo Domingo), the market is wide in geography and price segments. Online games as a single vertical are developed fragmentarily; lottery and betting points, historically widespread throughout the country, play a significant role.

Puerto Rico is an American legal environment: casinos at hotels, local and tourists are allowed, compliance standards have long been built, a responsible game according to the "US approach." A separate driver is legal sports betting (online and offline) as a new growth point.

2) Player access to casinos

Bahamas: casinos are for non-residents (tourists) 18 +; residents the entrance is closed. This is a fundamental feature that forms the positioning of resorts: "the game is part of the tourist product."

Dominican Republic: local admission is allowed; casinos are part of the daily leisure activities of residents and guests, which increases traffic outside the high season.

Puerto Rico: admission of locals and tourists; behaviorally closer to continental U.S. markets (with a strong emphasis on responsible play).

3) Online segment and sports betting

Bahamas: There is no universal "online casino license" for the market. There are limited interactive/mobile formats only for licensed resort casinos and a separate domestic sector (web-shops) for residents. Access to offshore sites exists de facto, but they are outside Bahamian jurisdiction.

Dominican: The national "big" online frame evolved in waves; in practice, lottery/betting networks are strong. Classic "online casinos" more often operate through offshore or in conjunction with ground operators; overall, the environment is more "mass market" than in the Bahamas.

Puerto Rico: Legal sports betting (including online/mobile) is an important new layer. Online casinos as in some US states are not widely deployed, but the sports book enhances MICE and event tourism, complementing hotel casinos.

4) Regulators and control architecture

Багамы: Gaming Board for The Bahamas + Gaming Act 2014 / Regulations. A rigid system of licenses (operator, employees, suppliers), enhanced AML/KYC, separation of "resort casinos" vs "domestic web-shops."

Dominican Republic: Casino and Gambling Department under the Ministry of Finance/Tourism; the key legislation is the historic Ley No. 351 (1964) with subsequent rules - an evolutionary model focused on hotels/resorts.

Puerto Rico: Comisión de Juegos/Puerto Rico Gaming Commission (and formerly Puerto Rico Tourism Company in terms of casinos), a modern regulation on sports betting and technical standards close to US state practices.

5) Taxes and economics (no exact rates, focus is logic)

Bahamas: Resort casinos pay a flat base tax (tied to the floor area) and gaming tax on revenue; interactive/mobile/proxy as part of the casino are taxed separately. Domestic sector (web-shops) - its own formula (percentage of revenue or EBITDA - which is more), significant deposits for due diligence and reporting. VAT logic (VAT 10%) affects purchases/transaction costs.

Dominican Republic: the tax burden consists of industry licenses/fees and fiscal payments, noticeably relies on the share of "gambling" GVA in tourism. The mass market partially compensates for low checks.

Puerto Rico: tax and licensing design closer to American: clear reporting, target fees (including sports book), high emphasis on audit and technical standards.

6) Tourism and product positioning

Bahamas: bet on premium resorts with a strong non-flora component - chef restaurants, water parks, art spaces, MICE. Casino is one of the elements of the "destination mix."

Dominican Republic: a wide mass flow of "all inclusive"; casinos often operate as evening activity within the resort. Conversion to the game is higher due to local access.

Puerto Rico: Urban and Event Tourism (San Juan), synergy with creative scene, cruises and sportbetting; the American payment ecosystem increases confidence in payments.

7) Payments, KYC/AML and responsible gaming

Bahamas: enhanced AML/KYC in both branches (casinos and web-shops), self-exclusion programs, strict control of beneficiaries and employees.

Dominican Republic: High cash turnover has traditionally supported offline networks; in recent years - the growth of non-cash and electronic payments, the gradual "whitening" of operations and increased supervision.

Puerto Rico: standards "like in the USA" - multi-level KYC, centralized reports, controlled payment solution providers; in online sports - geofencing and age verification.

8) Investment outlook to 2030

Bahamas: A high-end niche with low license counts and a high bar to project quality. The potential lies in the development of interactive, VIP services, MICE and "boring" non-cash revenue. Risks - dependence on air traffic and weather factors.

Dominican Republic: volume and diversification: space for new entertainment formats, updating the casino product line, technological upgrade and strengthening compliance. The potential lies in balancing the mass and premium segments.

Puerto Rico: growth through sportbetting and omnichannel (hotel + sports apps + events). Attractiveness lies in the "US-frame" familiar to investors, a strong payment infrastructure and an event agenda.

9) Who is right for what (quick guide)

Premium resort developers and icon brands - Bahamas (high neflora margin, quality control, status).

Mass resort networks/operators - Dominican Republic (wide demand, flexibility in price offers, local traffic).

Operators with expertise in rates/mobile - Puerto Rico (sports book, mobile products, cross-sales in hotel inventory).

Although all three destinations are Caribbean, their regulatory DNA differs: the Bahamas protects the "casino for tourists" model and strict compliance; The Dominican Republic is building a mass mixed market with local participation; Puerto Rico is developing an American approach by adding a sportbetting driver. For the operator's strategy, this means different entry requirements, different traffic funnels and different sources of margin - from VIP complexes and MICE in the Bahamas to the "massive" night flow of the Dominican Republic and the omnichannel sports ecosystem of Puerto Rico.