On June 18th 2015, it was reported that in Jamaica there will be two new casino resort developments.
Approval from the Cabinet of the country was given this week for the provisional development orders for two developers to create a massive new casino resort project.
It is expected that that the Harmony Cove limited will be spending $970 million US dollars for the first phase of the project.
Celebration Jamaica Development Limited is expected to spend $500 million US dollars in their first phase.
The Jamaican Finance Minister, DR. Peter Phillips went on to say that they expect these developments to strengthen the tourism industry as well as create an increase in economic development with job creation, an increase in tax revenue and also the demand for local goods and services will also be increased. The terms of the Order are that by the middle of next year construction on the projects will start and also 2000 hotel rooms each will be constructed.
Reportedly, these two projects will create a massive 5100 jobs.
In June 2013, the government started to launch invitations for proposals for casino resort projects.
The country’s Casino Gaming Act facilitates the casino licenses.