I watched this movie when i was little, maybe in 2005.
The movie starts with the kid waking up a genie inside a oil lamp. he gets three wishes. i only remember two wishes. his wish was based along the lines of being rich but the wishes never turned out right.
one of the wishes, his house turns into a drug dealing / hooker house.
another wish, his house turns into a castle and theres this snake/human hybrid. a bunch of teen kids roller skates around the castle to kill the snake/human hybrid.
maybe the third wish, the kid wishes that genie has a good life or something..