An Island Luck affiliate has applied for Gaming Board approval to acquire a 65 per cent majority equity stake in the rival Bahama Dreams web shop chain.
ISLAND Lucks principal is alleging that the Government misled him over planned web shop tax increases, adding: My legitimate expectation in a proper consultation was dashed.
Island Luck is awaiting regulatory approval for the acquisition of the rival Bahama Dreams web shop chain, Tribune Business can reveal, the first consolidation to occur in the newly-legalised industry.
ISLAND Luck Chief Executive Sebas Bastian yesterday said he was optimistic his company would become a successful applicant in its bid to obtain a gaming house operators licence.
ISLAND Luck celebrated the grand opening of a new web shop location yesterday, even though the government has not yet issued gaming house operator licenses to the ten web shops vying to operate legally.
A co-founder of the Island Luck web shop chain has agreed a plea deal with US authorities that omits all mention of the humansmuggling offences he was initially charged with.
The two mutual funds launched yesterday by Sebas Bastians new investment house are not an alternative back door to an Island Luck initial public offering (IPO), top executives said.
Island Lucks attorney says his client plans to get back to business following the tax settlement with the government, while conceding the deal may create a problem for other web shops.
ISLAND Lucks Sebas Bastian yesterday said an initial public offering (IPO) of shares in the web shop operator remains in progress, with a formal announcement likely imminent.Mr Bastian, when asked if his long-promised IPO will go ahead, replied: It
Island Luck yesterday warned staff to brace for up to 350 job losses after it was unsuccessful in mitigating the impact of a 184 percent tax rate hike on its business model.The Bahamas largest web shop chain, in a memorandum to employees, said it
ISLAND Luck yesterday said it has seen a 90 per cent reduction in money transmission activity across its system, as it bids to position itself in the vanguard on Know your Customer (KYC) requirements.Neil Major, Island Lucks chief compliance off
HUNDREDS of Bahamians waited in line for hours on Friday hoping to secure one of the 150 jobs available at Island Luck as the gaming operator continues its effort to meet new industry regulations.
A MAJORweb shop yesterday said allcustomer accounts being used for money transmission will be closed following regulatory concerns expressed by the Gaming Minister.