7 News Belize

Brad’s Boledo Deal Tabled In The House, But Not For Debate
posted (July 24, 2020)
And while that loan motion generated much debate - there was no debate about the Brad's Boledo contract which was tabled today. The Belize Government Lotteries Exclusive License to Brad's Gaming group was tabled in the house, but not for debate - which caused the Leader of the Opposition to bristle:

Hon. John Briceno, Leader of the Opposition
"I think what is most cowardly is the way this has been presented in the national assembly. It was presented as a paper for negative resolution, meaning in effect that the prime minister has set this in the house, it has been tabled and nobody can speak about it, we cannot debate it. In effect he is not giving one middle finger, but 2 middle finger to the people of this country, where he is refusing to have an open debate on a contract that has created a lot of controversy. We got a copy of the ownership, the shares and you see that Brads has 40% or 4,000 shares and then there is a company by the name of "Good Le" that owns 6,000 shares. In effect Good Li owns 60% of the Belize boledo. What makes it even more concerning or damning is that this is an offshore company registered in St. Lucia. The Belize boledo being contracted out to a company that's registered offshore and we don't know who are the owners. Now there is a lot of speculation that somebody that is very close to the prime minister is the very behind Good Li and maybe the prime minister needs to come clean and to say or to state whether he knows who are the beneficiaries of Good Li. We have grave concerns about how this has been handled. We have contracts over 5 million dollars that come to be debated here, here now is one where the government is signing off the Belize boledo to a private company with no debate, no discussions, with nothing. So I want to in effect inform the government that we will be taking legal action. We are going to have our legal advisors to look at this and see whether this was legal or not, but also I could assure you that once we get into government we are going to go through this contract. So I am alerting Mr. Brads and his partners to be careful how much money they want to give to the UDP, because they are going to lose their money."

"In effect they are giving him this license on credit. Its 2.5 million dollars and then they pay the first at the beginning of the quarter, slightly different, but basically they are giving Brads the Belize boledo on credit and that's disgraceful."

Reporter
"I guess the company might argue they don't have the cash to pay the full 2.5 million dollars. Upfront not a lot of companies would have that."

Hon. John Briceno, Leader of the Opposition
"Really, they just made about 50 million dollars over the past 10 years. In Orange Walk alone they sell 10 million dollars a year."

Reporter
"How do you reach these projections?"

Hon. John Briceno, Leader of the Opposition
"Because the people that are selling on behalf of Brads give us that information. Let's use it at 50 million, 10% of 50 million is 5 million, 30% is 15 million dollars per year net profit. That is what we estimate that this company is doing. You multiply it by 10, that's a 150 million dollars. We are going to look at this contract and I can assure you that this contract is not going to stay the way it is."

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