The Premier, David Burt, said that the granting of the island’s first casino licence represents “new employment opportunities and a potential increase in hospitality jobs”.

David Burt was speaking after the licence was granted to the St Regis hotel in St George’s, as announced by the Bermuda Gaming Commission on Friday.

Mr Burt said: “This is good news … the process has been a long and detailed one in which the commission and the hoteliers have worked together to ensure that all aspects of the statutory requirements are met.

“The hotel’s owners have demonstrated a genuine commitment to Bermuda and to the East End of the Island and we truly value their contribution to the tourism industry and the community.”

He highlighted that the development of the casino industry is one of the four key initiatives of the Government’s Economic Recovery Plan, adding: “With this announcement Bermuda moves a step closer towards realising that goal.

“This bodes well for additional investment into Bermuda and into tourism in particular.”

No date has been set for an opening, with administrative steps still needed to be negotiated.

Progress in getting a casino up and running in Bermuda has been slow. In January, the BGC said it was hoped a casino would open in June.

In an interview with The Royal Gazette, Jean Major, the chief executive of the Bermuda Gaming Commission, said the operation was “progressing well” and that “June is entirely possible, but I don’t want to put a definite timeline on it”.

In September last year, Mr Burt said that Bermuda’s first casino was expected to open its doors in 2021.

The Hamilton Princess & Beach Club has formally served notice of its aim to have a casino.