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Jamaica to get casinos?
17/11/2008 @ 11:47
Owners of luxury Caribbean property could get a boost this month with the announcement that Jamaica could soon pass legislation that would allow casino gambling in the country.
Prime minister Bruce Golding recently said that the motion was likely to be passed by the end of the month and two major future developments have already been promised casino licences, according to the Jamaica Gleaner.
The $5 billion Harmony Cove resort and $1.8 billion Celebration Jamaica are already likely to raise the profile of the island, but allowing casinos in the tropical paradise setting is likely to have tourists flocking to the Caribbean island in their thousands.
Jamaicans will be hoping that the island replicates the success of others to have welcomed the casino culture - the Chinese city of Macau now rivals Las Vegas and grossed $10 billion last year.
But the money spent by visitors is not the only bonus - gambling tax could flood the government's coffers, meaning more capital for investment into public projects.
This in turn would make the island an even better place to own luxury property.
Jamaica currently has a mixed economy, with some of the major sectors including agriculture, mining and manufacturing, as well as tourism.
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