Papua New Guinea based property developer Kostas Constantinou says it is not wanting to build a huge casino in Honiara.
The company says instead it submitted plans to the government to include a gaming room for 35 pokie machines as part of the five star hotel development.
But parliament earlier this year voted to limit casino licences to two.
Those two have already been issued.
An assistant with Kostas Constantinou, Lew Nielsen, says the definition of a casino in the Solomons is very different to his company's.
"That's where you have blackjack, croupiers and dice and tables and people shouting and stuff like that, but to me the definition is different but within the legislation I guess in the Solomon Islands it seems one and the same."
Lew Nielsen says the hotel project is on hold until the government changes the law to allow for a third casino licence to be issued.