Monday, May 3, 2010

Jamaican Lawmakers Approve Casinos; Joint Partnerships Envisioned

Feather News

Both Houses of Jamaica's Parliament approved the Casino Act of 2010 and the Governor General is expected to sign the bill within the next few days.

The new casino law calls for resort developments of which no more than 20 percent of the total resort investment will be for gaming while the balance of the investment will be used toward other resort components such as hotels, retail outlets, restaurants and sporting facilities.

The Finance Ministry estimates that the resort casinos would generate 8,000 direct jobs and 25,000 indirect jobs and a boost in tourism.

A timetable has not yet been set for a selection process or for the establishment of a gaming oversight commission.