Shyne on Boledo: I’m Concerned about What Canceling the Boledo Contract Signals to Investors

The government’s decision to cancel the Brads’ Gaming Group Limited Boledo contract has taken centre stage as people who have patronized the game for the past decades will have to temporarily suspend their nightly and Sunday lottery gambling hobby. The B.G.G.L. license will be officially revoked on May second, which means that the Sunday Lottery on April thirtieth will be the last held under the current Brads contract. At the heart of the matter is a significant revenue earner for the country in taxes, but today the Leader of the Opposition, Moses “Shyne” Barrow told the media that he is concerned about what the cancelation of the contract signals to investors and to the business community.

Moses “Shyne” Barrow

Moses “Shyne” Barrow, Leader of the Opposition

“Brad’s Boledo has invested, uh, millions and millions of dollars into what we have as the Brad’s Boledo entity over very many years. And they have a binding, legitimate contract agreement and regardless of this. This is not personal opinions. This is not about who owns Brad’s just as a leader of this country. We as leaders have to do what is ethical. We have to do what is legal. And so I am very concerned that the Briceno administration and is headed down a path of litigation that will see the Belizean people pay obscene amounts of money because they have violated a legal contract, which is something that they criticize the Barrow administration for doing, and they’re doing the same thing. But aside from litigation, the message it sends, it really depletes investor confidence to think that as an investor you will invest millions of dollars in Belize, and then when the government changes, they will cancel an agreement that is in place.”