Caribbean Cage, CWI sign US$100m commercial agreement

KINGSTOWN, St Vincent (CMC):

Cricket West Indies (CWI) and Caribbean Cage have signed a historic long-term strategic alliance and contract to generate significant recurring revenue for cricket and cricket development in the Caribbean.

The 10-year partnership is projected to generate nearly US$100 million for cricket development across the region and has been endorsed by eight CARICOM governments.

The agreement takes effect from April 1, 2025, and will also ensure increased tax revenues for these participating governments.

The long-term agreement was signed by CWI president Dr Kishore Shallow, and the co-founder and Chairman of the CAGE Companies, Robert B. Washington, earlier this week during CWI’s quarterly press conference.

Caribbean CAGE is the largest route operator of video lottery and video gaming terminals and licensed sports betting in the Caribbean and recently launched sports betting operations in Puerto Rico.

“I think, on a conservative basis, it generates an estimated US$100 million for CWI and another US$156 million for the governments that participate in the programme,” Dr Shallow revealed.

“For the last 20 years, there have been efforts to establish a regional lottery that could fund West Indies cricket, and we are quite happy and ecstatic to actually realise that idea and I want to say to Mr Robert Washington and his team at CAGE how grateful we are.

“The resources generated through this collaboration will not only empower the development of our men’s and women’s teams, but also strengthen the cricketing ecosystem across the region.

“It reflects our shared commitment to rebuilding West Indies cricket as a global powerhouse and a unifying force for the Caribbean,” he added.

Co-founder and majority shareholder of Caribbean CAGE LLC, Robert L. Johnson, said he was excited about the new partnership.

“CAGE is elated to be a part of an arrangement that goes way beyond the development of a game.

“This agreement will go a long way to positively altering the lives of the people of the region, creating greater socio-economic opportunities for all citizens through the game of cricket, which has long been recognised as the region’s metaphor for development,” Johnson said.

“Cricket has brought great glory and recognition to the people of the region, but by so doing it has also created a platform for positive development that this pact fortifies. But more importantly, the CARICOM countries in which we operate will also benefit financially from legalised gaming revenue that will increase their ability to support additional educational, sporting, and cultural activities for their citizens.”