We decided to share this article with readers of BAHAMAS CHRONICLE, which has a huge following among the Bahamian diaspora across the United States, Canada and the United Kingdom as well as in The Bahamas and the wider Caribbean. Eyewitness News published this article by Natario McKenzie on Thursday, April 16, 2026. The article can be found here.
NASSAU, BAHAMAS — Businessman and PLP candidate for the Fort Charlotte constituency Sebas Bastian is calling for a broader conversation on Bahamian ownership in the gaming sector amid debate over a national lottery, arguing that Bahamians must move from merely being participants to having an equity stake in the industry.
Responding to the Free National Movement’s (FNM) proposal, Bastian said the national discussion has become too narrowly focused on expanding gaming offerings, rather than who ultimately benefits from the industry.
“I always wanted the conversation to be broader as it relates to ownership,” Bastian said. “It’s time that Bahamians be owners of the economy and not just spectators in it.”
Bastian pointed to his establishment of the Titan Fund in 2019 as a practical example of how ownership can be expanded. He explained that shares in Island Luck were placed into the fund, allowing more than 1,200 Bahamians to directly benefit from the company’s performance.
“I think that’s where the biggest value is,” he said, adding that before stepping down from Island Luck, he instructed the board to continue expanding ownership opportunities.
While not opposing a national lottery outright, Bastian questioned whether the proposal has been fully developed, particularly in terms of execution and management.
“Who’s going to operate the national lottery?” he asked. “Bringing in a foreign consultant, then you have to bring in foreign technologies, which means we have a foreign stake in the domestic gaming industry.”
He warned that without careful structuring, such an approach could dilute local control in a sector that has already seen significant Bahamian participation.
“It seems not well thought of,” Bastian said. “I’m not against the idea of any sort, but we need empirical data to show how this is going to work and how it’s going to operate.”
Bastian also highlighted the government’s current revenue intake from gaming taxes, which he said totals approximately $50 million annually.
“What was conveniently omitted is that we have $50 million in tax revenue that comes in every year,” he said.
He argued that the social objectives often tied to a national lottery—such as funding for education, sports, and youth development—could be achieved immediately through better allocation of existing resources.
“Instead of it going into the consolidated fund, we can earmark that tax revenue to those things now,” he said. “We should not have to wait on things like gaming to prioritize education, sports, and youth empowerment.”
Bastian maintained that long-term national prosperity will depend less on expanding gaming products and more on ensuring Bahamians have a meaningful stake in the industries that generate wealth.
“This is about ownership,” he said. “That’s where the opportunity is.”