Above: Jamaica Finance Minister Peter Phillips
By Alexander Britell
Two major new casino resort developments are coming to Jamaica.
The country’s Cabinet this week gave approval for provisional development orders for a pair of developers for huge new casino resort projects.
The first, Harmony Cove Limited, is expected to spend $970 million USD in the first phase of its project.
The second, Celebration Jamaica Development Limited, is expected to spend $500 million USD in its first phase.
“We confidently expect that this will lead to a strengthening of the tourism industry’s competitiveness and the bolstering of economic development through job creation, increased tax revenue and additional demand for locally produced goods and services,” said Jamaica Finance Minister Dr Peter Phillips. “Each of these projects, under the terms of the Order, will be required to start construction by the middle of next year, and to ultimately construct 2,000 hotel rooms each.”
The two projects are expected to create more than 5,100 jobs upon launching operations.
The government first launched an invitation for proposals for casino resort projects in June 2013.
Casino licenses are facilitated under the country’s Casino Gaming Act.