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Dolphin Cove in Jamaica to go Public

Owners of the tourism attraction, Dolphin Cove, Jamaica’s premier tourist attraction, plans to raise equity financing through the Junior Market of the Jamaica Stock Exchange (JSE) to expand the company in line with the anticipated growth in cruise tourism.

Stafford Burrowes, president of Dolphin Cove, in his announcement said: "The future of the industry is extremely exciting and Dolphin Cove wishes to participate and benefit from the opportunities being offered. We wish to raise additional equity and are planning in the near future to list on the Junior Market of the Jamaica Stock Exchange. This we feel is the most advantageous route to go."

Though Burrowes did not say how much he is seeking in the initial public offer, it is estimated that the company is planning a $40 million expansion in additional attractions including a zip line, waterslide, expanding the beach and building an interactive free flying aviary. Plans also include the purchase of additional land to expand parking facilities in Ocho Rios.

"Dolphin Cove had anticipated growth in the industry, both cruise ship based and land based and with our expansions we had planned to increase our capacity. Our Dolphin Lagoon in Ocho Rios is capable without any change to take twice as many people as we are now taking," Burrowes said.

The just completed Dolphin Cove facility in Hanover, called Dolphin Cove Negril is the largest in the world. Burrowes said despite estimates of a million passengers per year through the Falmouth Port, he is projecting a conservative 600,000 visitors that would need additional sources of entertainment and attraction. With the expansions planned, employment will be created for another 40 to 50 new people at Dolphin Cove alone.

"Six hundred thousand people in the port is very, very significant. It will create significant increases, not just to my park put to other attractions," Burrowes said. According to Burrowes, this is another positive sign for the growth of the business.

"We are very fortunate in Jamaica we have a very naturally beautiful island and the opportunity to have the nicest attractions in the Caribbean" he added.

Both Falmouth and Dolphin Cove are within driving distance of Silver Sands Jamaica. For the convenience of its guests, Silver Sands arranges transport to Dolphin Cove and other places of tourist interest on the island.

Jamaica Villas Happenings