The regulatory agency Bermuda Casino Games Committee (BCGC) has officially announced that Executive Director Richard Schuetz has decided to resign for “personal and professional reasons.”
Gambling regulator Bermuda Casino Gaming Commission issued an official statement confirming that Executive Director Richard Schuetz is resigning. According to the same statement, he will remain in office until the end of the year, so he will have time to help his successor who will take the position and find his way.
The chairman of the Bermuda Casino Games Committee decided to resign at a very sensitive moment for the watchdog group on the verge of issuing its first casino license. Mr Schuetz did not mention any particular reason for his decision, but reportedly categorized it as “personal and professional.”
Prior to his two-year career on the Bermuda Casino Game Board, Mr. Schuetz was a member of the California Gambling Control Board. His rich experience is highly regarded by the BCGC. Commission President Alan Dunch said Richard Schuetz was a valued member of their team, and they understood and supported his decision to resign from his post.
He added that the Board of Audit and Inspection is now working to find the best candidate for Scheetz’s position, which will successfully take office under Scheetz’s direction. In addition, it became clear that Mr. Scheetz would oversee the process of issuing the first temporary game license to Hamilton Princess & Beach Club-related companies, more precisely Hamilton Princess Casino Limited, to ensure that all requirements were met and all processes went smoothly.
Mr Schuetz thanked the Bermuda Casino Games Committee for its support and explained that it was a great honor to be involved in building a stable casino industry on the island and working hand in hand with BCGC. The commission reports Mr Schuetz had expressed his intention to resign somewhere in mid-July even before the election began , but kept his decision under wraps to avoid speculation on the matter.
Since its establishment in 2015, BCGC has been tasked with regulating the gambling industry and issuing licenses to approved casino operators. Currently, regulators want to issue their first casino license after the Hamilton Princess & Beach Club meets all requirements and deadlines. Mr. Dunch explained in July that the company’s application was due to be put on the discussion table , when Mr. Schuetz will continue to hold his post.