John K. Baldwin majority shareholder and president and director of GG Acquisitions II owners Guam Greyhound racetrack and is proposing gaming slot machines at the facility through a voter initiative this election.
The "Initiative to Revitalize Tourism in Guam and Generate Revenue for Health Care and Public Education by Allowing Slot Machine Gaming" would allow slot machines at an existing racetrack where a pari-mutuel betting system exists. Guam Greyhound utilizes this system.
Under the proposal 10% of the slot machines’ gross income would go to the government of Guam through an annual tax.
The money would subsidize health care education and programs "for the general well-being of the territory."
Baldwin is also owner and president of Bridge Capital LLC of St. Croix Virgin Islands. Bridge Capital is a financing firm whose representatives visited the Northern Mariana Islands in November 2005 to discuss plans to seek tax breaks through the government’s Qualifying Certificate program and open a lending company on Saipan. The company offers loans at a minimum of $1 million.
Bridge Capital led by Shawn A. Scott financier and managing partner; presented a proposal during a public hearing held Dec. 5 2005 at the Gov. Pedro P. Tenorio Multi-Purpose Center in Susupe during which Bridge Capital outlined plans to invest $12 million in the NMI to operate a financing business. MBJ
