FOMB approves gambling machines regulations to benefit police retirement
- The San Juan Daily Star
- Dec 30, 2024
- 1 min read
By The Star Staff
The Financial Oversight and Management Board for Puerto Rico (FOMB) has approved the implementation of the Regulation for the Issuance, Management, and Inspection of Roadside Gambling Machines. This regulation will contribute a portion of the generated income to the Puerto Rico Police Retirement Trust starting in 2025. The regulation, which oversees slot machines operating in businesses across the island, was developed through a collaborative effort between the Legislative Assembly, the FOMB, the Retirement Board, the Puerto Rico Police, and the gaming industry.
Interim Executive Director of the Gaming Commission, Juan Carlos Santaella Marchán, stated that the regulation ensures more secure betting practices and supports the retirement of police officers. Act 112 of 2024, signed by Governor Pedro Pierluisi in July, allocates a part of the revenue from these machines to the trust. Beginning in 2025, the Commission will renew licenses for operators, marking the start of the fund’s revenue generation.
The new regulation will introduce advanced technology for interconnecting machines, promoting transparency in government collections and reducing licensing costs for operators implementing these technological innovations.
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