INSIGHT JAMAICA


The island already has a well developed slot parlour industry there are around and six small “gaming lounges” housing


slots in hotels. Overall there are around 14,000 gaming machines, located in a wide variety of venues all over the island. Yet there are no still stand alone casinos. While


Jamaica continues to rebound from the dark days of COVID-


19 the government is seeking to boost


tourism even further.


Speaking at FITUR, the largest tourism trade show held annually in Spain Edmund Bartlett said:


“Jamaica’s tourism is back, and our recovery continues to outpace our earlier projections. We are now in growth mode and to achieve this in double digits for this year is huge. It will mean more jobs and more earnings for workers and the island’s economy. Tourism is Jamaica’s lifeblood and driver of economic growth and the industry’s growth means the country’s growth."


Te island already has a well developed slot parlour industry there are around and six small “gaming lounges” housing slots in hotels. Overall there are around 14,000 gaming machines, located in a wide variety of venues all over the island. Yet there are no still stand alone casinos. While Jamaica continues to rebound from the dark days of COVID-19 the government is seeking to boost tourism even further with IRs and there are a number of possible locations on the cards.


THE CASINO GAMING ACT


Initially passed in 2010 Te Casino Gaming Act would permit casino as part of Integrated Resort Developments (IRDs). Two years


later and the government passed further regulations outlining how licenses would be granted and announced that a total of three casinos would be permitted in all.


Potential investors had to first qualify for AIRD (Approved Integrated Resort Development) status - a development order issued by the Ministry of Finance and Planning. In order to operate a casino the potential licence holder had to first propose a hotel development which had to cover a minimum of 2,000 rooms, of which no fewer than 1,000 had to be ready for occupancy prior to the start of casino activities. One benefit for operators was that contracts could include geographical exclusivity clauses meaning that another similar resort would not be permitted within the same area.


As for the tax rate this was set at 10 per cent on gross profit. In addition a newly established Casino Gaming Commission would also impose annual fees on each slot machine and table on site.


POTENTIAL INVESTORS


It was initially believed that the licensing process would begin in 2015 when the senate approved the licence fees. Indeed Celebration


WIRE / PULSE / INSIGHT / REPORTS P129


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