Slot machines as would be used locally on the introduction of casino gambling. - Contributed

The Government's plan to introduce casino gambling is way behind schedule and doubt has been raised that one of the two entities expected to feature in the initial stages seems set to pull out.

In April 2008, Prime Minister Bruce Golding announced that legislation to introduce casino gambling should be before Parliament within seven months with two investors lined up to spend billions of dollars to develop properties with casinos as key components.

But more than a year after that announcement, the legislation is yet to be taken to Parliament and Golding has confirmed reports reaching The Gleaner that one of the potential investors, Celebration Jamaica, could pull out.

"That one, I think, is facing challenges from the global financial situation so they are to come back to us because they had not yet identified financing," Golding told The Gleaner.

"They were waiting to see what the Government's legislative position would be, so that one is more of a challenge," he added.

Signed agreement

The Government has already signed a heads of agreement with Celebration Jamaica for the development of a 65-acre property in Rose Hall, St James, with 2,080 rooms, restaurants, golf courses and an ultra-modern casino.

Celebration Jamaica, which had already developed the Palmyra Hotel and Spa in St James, had told journalists that it was itching to get started and its president, Dennis Constanzo, later expressed frustration at the Government's delay in handing out the casino licences.

Last night, Constanzo said there was no risk of the project being abandoned.

"We probably need to communicate with the prime ministerbetter," he told The Gleaner. "Yes we have had to look at other sources of funding but, even if we are left with one or two projects, this would be one of them."

He added: "We would rather if it had been expedited but we understand and whenever the legislation is ready, we will be able to start quickly."

Tavistock still on board

In the meantime, Golding remains positive that the other entity earmarked for a casino licence will remain on board.

Following recent discussions, Golding told The Gleaner that the Tavistock Group, which is scheduled to develop a multibillion-dollar resort at Harmony Cove in Trelawny, is on track to start construction of the 4,500-room resort early next year.

"I'm encouraged that Tavistock is moving full speed ahead," Golding said.

He claimed legislation governing casino gambling would be brought to Parliament soon.

According to Golding, a bill to provide a regulatory framework has just been completed and should be submitted to the Cabinet next month.

The prime minister said the Government would then be able to finalise negotiations with major casino operators.

In 2008, the Government committed to granting casino licences to Celebration Jamaica and the Tavistock Group.

Team leader appointed

In making the announcement during the 2009-2010 Budget Debate, Golding said Dennis Lalor had been appointed to head a team to recommend the regulatory framework and tax regime to govern the operations of casinos.

Golding later claimed debate on the legislation would begin in November 2009.

He also announced that the expected tax windfall from casinos would be placed in the Consolidated Fund and used to finance capital development in health, education and security.

arthur.hall@gleanerjm.com