SIZZLING Slots operator Adam Epstein is investing US$2 million ($176 million) in a state-of-the-art gaming lounge in the Wyndham Kingston hotel.

The new gaming lounge, which is yet to be branded, is scheduled to open on August 1. The 4,500 square-foot facility will feature 150 chances to risk your money, including multi-seat black jack, Sega Royal Ascot horse racing, baccarat, roulette, pai gow and slot machines. “Based on the company’s performance so far, we have absolute confidence in the growth of this industry,” Epstein told the Jamaica Observer.

“We still think it’s in its infancy and we feel that we have a lot to bring to the table in terms of a vibrant market along with higher tech games,” he said.

The new gaming lounge — designed by Philippa Epstein — will have an “ultra-modern, contemporary look”, the proprietor said. What’s more, it will feature new cashless technology, which is in line with the gaming model envisioned by the regulator, the Betting, Gaming & Lotteries Commission (BG&LC), for future development of the sector, he added.

The move deepens Epstein’s penetration into the lucrative gambling industry. The young entrepreneur has spent over $200 million since last year setting up gaming outlets as part of an all-island roll-out.

He already operates three Sizzling Slots betting lounges – gambling shops with up to 19 gaming seats — in downtown Kingston, Half-Way-Tree and Old Harbour.

The Government’s lifting of an eight-year ban on the issuing of licences for gaming lounges, which are allowed to operate with 20-150 players at a time, opened the door for the latest development, Epstein said, adding that the Old Harbour location is being upgraded into a gaming lounge as well.

“At that point, we started negotiating with the Wyndham, which we felt was a choice location to put a gaming lounge,” he said. “The negotiation process took a while in order for both parties to have a certain comfort level.”

The new venture will lease the commercial space at the Wyndham that was formerly occupied by the now-defunct Villagio Gaming Lounge. Gamers will benefit from special room rates and special parking at the hotel, said Epstein, and will gain further privileges through a customer loyalty programme.

“We see it as a win-win for both the hotel and for us,” said Epstein, noting that one of the biggest benefits of the Wyndham location is the hotel services that his company won’t need to provide.

“If patrons want to have dinner or entertain themselves, you have a choice of many restaurants or bars on the property,” he said.

Wyndham, located in the heart of New Kingston near to the Pegasus and Courtleigh hotels, expressed confidence that the new gaming lounge will boost its competitiveness.

“It is a welcome addition to the product which is going to enhance our offering over and above other properties in the Kingston area,” stated the Wyndham hotel management.

Gross turnover in the gaming lounge sector totalled $25.1 billion in fiscal year ending March 2011, according to BG&LC figures.

The Monte Carlo at Terra Nova All-Suite Hotel in Kingston is the sector’s market leader, with gross profits of some $1.3 billion in 2010-11, followed by Supreme Ventures Limited’s Acropolis in Barbican, which made $360 million in gross profits over the period.

Other players include the Treasure Hunt and Caribbean Treasure brands, and the new Macau Gaming Lounge.

“We expect, based on the numbers, that the pool of gaming in the Kingston metropolitan area will be able to support an operation like this one,” said a confident Epstein.

Gaming lounges in Jamaica pay 10 per cent of gross profit in taxes while betting lounges contribute a flat $10,000 per annum.