In partnership with Connecticut developer Curtis Robinson, Jackson plans to build the 1,400-room resort in Robin Bay, on the eastern end of St. Croix, according to Lt.-Gov. Vargrave Richards.
Jackson and his partners are waiting to arrange for more funding before beginning construction, Richards said, without giving details.
The resort is to include a casino, a golf course, time shares and a conference center. U.S. Virgin Islands authorities have already approved a casino license, Richards said.
Jackson was in St. Croix recently, attending festivities surrounding the inauguration of Gov. Charles Turnbull to a second four-year term as head of the territory's government.
'I think it's the first opportunity for Mr. Jackson to see the property and to meet the governor,' Richards said.