The regulatory body Bermuda Casino Gaming Commission (BCGC) officially announced Executive Director Richard Schuetz’ decision to resign from his post due to “personal and professional reasons”.
The gambling regulator Bermuda Casino Gaming Commission released an official statement, in which it confirms that Executive Director Richard Schuetz steps down from his office. According to the same statement, he will remain in office until the end of the year, so that he will have the time to navigate and assist his successor, who will take the post.
The Head of the Bermuda Casino Gaming Commission decided to resign from his post in a very delicate moment for the watchdog, which is on the brink of issuing its first casino license. It was reported that Mr. Schuetz did not point out particular reasons for his decision, but he only classified them into “personal and professional” ones.
Prior to his career in the Bermuda Casino Gaming Commission, which continued for 2 years, Mr. Schuetz was a member of the California Gambling Control Commission for long years. His rich experience is highly appreciated by BCGC. Commission Chairman Alan Dunch commented that Richard Schuetz was a valuable member of their team and they understand and support his decision to resign from his post.
He added that the watchdog is now trying to find the best applicant for Schuetz’ position, who will assume the office successfully under Schuetz’ instructions. Moreover, it became clear that Mr. Schuetz will supervise the process of issuing the first provisional gaming license to the Hamilton Princess & Beach Club associated company, and more precisely Hamilton Princess Casino Limited Company, in order to make sure that all the requirements are met and the entire process will run smoothly, without any problems.
Mr. Schuetz expressed his gratitude to the Bermuda Casino Gaming Commission for the support and explained that it was a great honor for him to be part of establishing a stable casino industry on the island, working hand-in-glove with the BCGC. The Commission reported that Mr. Schuetz expressed his willingness to resign from his post somewhere in mid-July, even before the start of the elections on 18th July, but his decision was kept in secret in order to avoid any speculations on the matter.
The BCGC was established in 2015 and since then it is assigned the watchdog task to regulate the gambling industry and issue licenses to the approved casino operators. Currently, the regulatory body is about to issue the first casino license, after Hamilton Princess & Beach Club met all the requirements and deadlines. In July, Mr. Dunch explained that the company’s application is to be placed on the table for discussion on 22nd September this year, when Mr. Schuetz will be still serving in his position.