Sabrina N. Gordon, Business Reporter

Fletcher's, a gaming lounge once located at Upper Waterloo Road in Kingston, has transferred its operation to Mandeville, and is now trading as Palace.

The company says the location was chosen based on its high disposable income.

Mandeville is one of the favoured towns of returning residents.

"Acropolis opened in May Pen and is doing quite well," said Sharon Johnson, general manager for the gaming lounge, which will open officially today.

"So we should have a pretty good market, and because Mandeville has the highest per capita disposable income as shown by our market research."

According to Derek Peart, executive director of the Betting Gaming and Lotteries Commission, the licence was transferred in the name of Best Chance, with trading name The Palace.

The transfer of licence was granted in June, prior to which the company was operating in Kingston for about four years with its operation halted due to a fire on the premises, said Peart.

Partners in new venture

Fletcher's was owned by Clive Fletcher. He and a man called Glaves are partners in the new venture, located at shop No 19 at Nashville Plaza, Mandeville.

Glaves refused comment on the level of investment made by the partners, telling the Financial Gleaner he did not want a story done.

The lounge is opening after a four-month setback.

"We were to open from February but had some fine tuning to do and we are now ready to go," Johnson said.

Gaming is the single largest segment of the betting, gaming and lotteries industry, which is valued at approximately $23 billion in annual sales.

But according to Peart, there is currently a moratorium on licences for the number of premises that are allowed to operate with over 20 slot machines.

Lotteries is second in the industry with a value of approximately $17 billion, dominated by Supreme Ventures Limited, owner of the Acropolis lounges.

The three-storey Palace gaming lounge has a staff of 48 and will open with 90 slot machines for starters, after which Best Chance will consider further expansion.

"We need to see how business goes first," said Johnson.

Gaming lounge facilities may accommodate up to 150 slot machines as set out in the Betting,Gaming and Lotteries Act.

Presently there are about 11 lounges spread across the Island, with three operating in Kingston - Acropolis and the Villagio, both controlled by Supreme Ventures; and Monte Carlo at the Terra Nova.

Two are located in Ocho Rios, two in Montego Bay, one in Negril and a branch of the Acropolis in May Pen.

The others operate in some of the big hotels according to Peart, while Palace is the only operation in Mandeville.

sabrina.gordon@gleanerjm.com