Jamaica issues first casino licence

WESTERN BUREAU:

After more than a decade of legislative preparation and repeated anticipation, Jamaica has issued its first casino operator's licence, clearing the way for casino gaming to become a reality at the Princess Grand Jamaica Resort in Green Island, Hanover.

The Casino Gaming Commission (CGC) announced today that it has granted the country's inaugural casino gaming operator's licence to Adamas Grand Casino Limited, marking what officials describe as a historic milestone in the development of Jamaica's regulated casino gaming industry.

The casino will operate at the Princess Grand Jamaica Resort under a management agreement with Grupo Orenes, a Spanish gaming and hospitality company with established casino operations in Spain, Mexico and Andorra.

The announcement brings to fruition plans first outlined when Princess Hotels & Resorts unveiled its approximately US$800-million investment in Hanover, which included a casino as part of the integrated resort, subject to regulatory approval.

According to the Commission, the licence was issued only after what it described as a rigorous due diligence process that examined the applicant's integrity, ownership structure, financial capacity and business competence under the provisions of the Casino Gaming Act.

The operator must also satisfy a range of regulatory conditions before welcoming its first patrons.

These include approved internal controls, surveillance systems, responsible gaming safeguards, anti-money laundering and counter-terrorism financing measures, player protection protocols and full integration with the Commission's Gaming Management Information System.

Finance and the Public Service Minister Fayval Williams said the granting of the licence demonstrates Jamaica's commitment to maintaining high regulatory standards while attracting major international investment.

"The granting of this licence reflects Jamaica's continued progress in building a modern economy underpinned by strong institutions and transparent regulation," Williams said.

She stressed that casino gaming will operate under the same anti-money laundering and beneficial ownership requirements that govern Jamaica's financial sector.

Williams also pointed to the wider economic impact of the Princess development, saying the investment is expected to generate hundreds of temporary and permanent jobs while strengthening Jamaica's tourism offering and creating opportunities for local businesses.

"This milestone reflects the same governance standards that have supported our progress with the Financial Action Task Force (FATF) and our broader financial sector reforms," she said.

"It signals Jamaica's readiness to welcome world-class investment that will expand our tourism product, create quality employment, stimulate local businesses and generate sustainable revenues for the country."

She added that the Government expects additional investment in the casino gaming sector as the regulatory framework continues to mature.

Ryan Reid, chairman of the Casino Gaming Commission, described the development as an important step not only for gaming but for Jamaica's wider economy.

"Today marks a significant step forward, not only for the casino gaming industry, but for the wider development of our tourism product and our national growth," Reid said.

He said the Commission remains committed to ensuring that the sector develops responsibly while maximising long-term benefits for the country.

Chief Executive Officer Cleveland Allen noted that the licence represents the culmination of more than a decade of institutional development.

"The issuance of Jamaica's first casino operator's licence is the culmination of more than a decade of deliberate institution-building and regulatory preparation," Allen said.

"Our responsibility extends well beyond licensing. Through rigorous oversight, uncompromising compliance standards and continuous supervision, we will ensure that this industry develops with integrity, transparency and accountability."

The CGC said the casino forms part of an approved integrated resort development, consistent with Jamaica's regulatory model, which allows casino gaming only as a complementary feature of large-scale tourism investments rather than as stand-alone operations.

The Commission said it will continue working with Adamas Grand Casino Limited to ensure all remaining pre-operational requirements are met before the casino officially opens and that ongoing compliance will be monitored throughout the life of the licence.

janet.silvera@gleanerjm.com