Celebration Jamaica Development Ltd., one of the two companies that were given the green light to build casino resorts in Jamaica, has submitted an application to the Ministry of Finance and Public Service to extend the provisional order for the establishment of a hotel as part of its project in Montego Bay.
Land has not been secured yet but the developer and the Urban Development Corporation have been discussing the matter and progress has been made towards the eventual acquisition of the necessary land, local media reported.
Celebration Jamaica was scheduled to break ground on the hotel and casino resort in the middle of May. The Ministry has confirmed that the developer has violated the provisional order by delaying the project. However, it has applied for an extension and officials are now reviewing the possibility to amend the current order.
Markus Deutsch, CEO of Celebration Jamaica, has told media that the company is likely to begin construction on its complex early in 2017, provided that all the necessary permits are granted. The executive has further explained that they were prevented from breaking ground on the resort within the originally established time frame due to protracted final licensure and the fact that no site had been secured yet.
Harmony Cove Limited is the other developer that has been allowed to build a casino resort in Jamaica. The business enterprise is partly run by the Jamaican Government. However, it seems that it, too, will violate its provisional order. Construction is expected to begin in July but financial issues will probably detain the process. According to a filing by the Ministry of Finance and Public Service, work on the complex will likely start in the second quarter of 2017.
Jamaica passed an underlying law for the development of casino venues back in 2010. However, it was not before last year when casino regulations came into effect. The current law allows for up to three casino licenses to be granted. Each approved developer should make sure that its complex features no less than 2,000 hotel rooms, among other amenities.
Each of the casino projects will be rolled out in phases. Phase One would require the launch of 1,000 hotel rooms. The gambling facilities are to be launched in Phase Two.
