BEACON HILL--The National Alliance (NA)-led coalition has amended government's long-standing casino policy – "Rules of the Game."

The decision to change the policy was taken on Tuesday and the amendment, which was recorded on the Executive Council's decision list, makes it possible for Caravanserai Beach Resort to become eligible to receive a casino licence without the completion of the previously-needed 200 rooms.

Caravanserai CEO Haresh Manek was "elated" with the news when contacted by The Daily Herald. He said he had been told by Commissioner William Marlin that changes would be made to the policy that had prevented him for so long from acquiring a licence.

Manek said he had been informed that he could now resubmit a request for a licence under the new regulations and rules as soon as possible.

Those new rules/changes pertained to Article 3B of the policy that had stipulated that a resort/hotel must have at least 200 rooms to come under consideration for a casino licence.

That article now states that a licence can be granted to a hotel or resort that has 65 per cent or more of the required rooms completed, has sufficient financing to complete the project of 200 rooms or more, and must be open already or ready to be re-opened.

The only resort seeking a casino licence that fits these criteria is said to be Caravanserai, which announced the recommencing of the second phase of its expansion, a US $12 million investment, on August 4 and renewed its plea for a casino licence.

Manek said Wednesday, "We have been waiting a long time for this and we are happy that it is finally happening."

The construction contract, financed by Scotiabank, was signed by Manek and Liccom N.V. Director Andre Sneep, putting some 100 people, including subcontractors, to work on the completion of the two buildings in Phase II.

The beachfront resort will have 216 rooms when completed in December 2011 at a cost of some US $26 million, 16 rooms more than the number needed for the casino licence as stipulated in government's Rules of the Game.

Already 130 rooms are completed, of which some 90 are operational as a combination of hotel and timeshare units. All 130 rooms will be ready for vacationers when the first phase of the resort opens officially in November.

The second phase comprises 86 rooms ranging from hotel rooms to three-bedroom penthouses. Sixty per cent of the units of this phase are already sold.

Manek had told the press at the contract-signing in August that he had hope that government would grant the licence as early as November when the first phase opened. A casino on the property would bring enormous benefits and income for the resort and government in taxes and fees, he said then.

Caravanserai has been fighting for a casino licence for some six years now, since the now-closed stand-alone Dolphin Casino moved from its premises to the former Sunset Theatres building in Cole Bay. The resort was first granted a stand-alone licence by government, in contravention of the casino policy, but this was reversed by Governor of the Netherlands Antilles Frits Goedgedrag on the basis that the policy said 200 completed rooms and not the intention/plans to build.

A lengthy court battle ensued and in the end was halted.