Punta Cana to get competition in Caribbean Resort Casino segment from Princess Resorts

 

 




US$400 million is the price tag attached to Jamaica’s first casino resort, the Princess Grand Jamaica which is slated for opening in mid to late 2025

Competing properties in the region include the Hard Rock Hotel Punta Cana in the Dominican Republic which is cited as the regions’ largest with 13 pools with water slides and swim-up bars, multiple restaurants, a golf course, a spa, and suites with spa tubs and private balconies.

The onsite casino is 45,000 square feet and has 40 tables and more than 400 slot machines. For the Hard Rock group, peak revenue was US$150 Million in 2023.

The government of Jamaica has been trying for years to launch the casino centred Approved Integrated Resort Development (AIRD) but so far, no approved projects has started.

In March 2022 it closed a new call for the new style development which should include a mix of various tourism amenities and facilities in the same precinct including, but not limited to, hotels, hotel rooms, villas, casinos, attractions, sporting facilities, entertainment facilities, service centres and shopping centres.

A declaration of an AIRD by the Minister of Finance and the Public Service is a precursor for an application for a casino gaming license under Section 9 of the Casino Gaming Act. Meanwhile, Harmony Cove has continued to receive promotion by government as its own AIRD.

Harmony was originally costed at US$7.5 billion by Harmonization Limited which is a partnership between the Development Bank of Jamaica Limited, the National Housing Trust) and, originally, Tavistock Jamaica Inc., subsidiary of Tavistock Group – a global private investment company.

Now it appears that Princess Resorts will be first out of the block. The Hanover project is described by the Jamaican Ministry of Tourism as marking a significant milestone for the country’s tourism and gaming industries.

As described, the Princess Grand Jamaica resort, located on Green Island near Negril, will become Jamaica’s largest resort complex when fully built with a total of 2,037 rooms, including two adults-only hotels.

The resort’s second phase, which includes the casino, will also feature 1,025 hotel rooms and 14 overwater villas. Phase one recently opened.

The integrated resort will include a variety of luxury accommodations, with overwater suites designed to provide guests with exclusive and high-end experiences.

The project is expected to generate hundreds of jobs, including those in hospitality, security, construction, and management, contributing to the island's employment rate

To mitigate gambling addiction risks, local leaders have called for the implementation of responsible gaming practices.

Photo credit: pixabay 

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