Tag Archives: Baha Mar
Bahamas – Baha Mar sold to its primary lenders
Baha Mar, the stalled casino resort in the Bahamas, has been bought by Perfect Luck Holdings, an affiliate of the project’s main lender, Export-Import Bank of China. Bahamas Prime Minister Perry Christie believes the property can now open by March 2017. He has even said that if the project’s original developers want to make a…
Bahamas – Baha Mar close to getting new owner
The Bahamas Government of Prime Minister Perry Christie has confirmed that agreements are now in place to complete the stalled US$3.5bn Baha Mar casino resort at Nassau’s Cable Beach with government officials aware of who is trying to buy the project. Baha Mar ran into problems almost two years ago towards the end of its…
Bahamas – Developer calls for transparency in Baha Mar sale
Baha Mar, the derailed casino resort mired in litigation since filing for and failing to secure Chapter 11 bankruptcy, is now up for sale with receivers Deloitte & Touche appointing Canadian property firm Colliers International to find its eventual owners. Several names have been linked with taking the project on including Sol Kerzner, Andrew Farkas,…
Bahamas – Sol Kerzner linked to Baha Mar rescue package
South African-born Sol Kerzner, who brought the Atlantis, Paradise Island resort to the Bahamas, has been linked with reviving the stalled $3.5bn Baha Mar resort, which went into receivership in June. Mr. Kerzner has teamed up with Island Capital Group, owned by property tycoon Andrew Farkas, plus one of the companies that ploughed so much…
Bahamas – Developer remains silent as Baha Mar is placed into receivership
The Supreme Court in the Bahamas has placed the $3.5bn Baha Mar project into receivership after approving an application from the EXIM Bank. The aim now is to ensure that the relevant parties co-operate to get the resort completed and open. However the court has already appointed liquidators to make 2,020 Baha Mar employees redundant…
Bahamas – Baha Mar given stay of execution
Baha Mar, the stalled casino resort in the Bahamas, has been given a two-month reprieve from liquidation from the Bahamian Supreme Court. Whilst the government wanted immediate liquidation, the Justice Ian Winder of the Supreme Court decided to instead limit the liquidators’ remit and adjourn further proceedings until November 2. Baha Mar Chairman Sarkis Izmirlian…
Bahamas – Baha Mar refused Chapter 11 by local Supreme Court
Baha Mar, the developer of a $3.5bn casino resort in the Bahamas, has been knocked back in its quest to file for Chapter 11 bankruptcy with a Supreme Court refusing to accept the filing. A bankruptcy filing would have stopped creditors from taking action against the yet to open casino. Supreme Court Justice Ian Winder…
Bahamas – Baha Mar applies for Chapter 11 to complete opening
The hotel towers look resplendent and the casino is complete with equipment from IGT, Scientific, TCS John Huxley and CG Technology amongst others, ready to whirl into life. However the owners of Baha Mar, the $3.5bn global gaming destination resort in Nassau, The Bahamas, have filed for bankruptcy, just to ensure it does finally open….
The Bahamas – Baha Mar takes Scientific approach to gaming
Baha Mar Casino & Hotel, the Caribbean’s newest and largest casino resort, has selected a host of Scientific Games solutions in systems, games, table products, and interactive to drive entertainment, help transform customer service, increase operating efficiency, and provide end-to-end casino and slot-management solutions. Baha Mar, the $3.5bn resort in The Bahamas, conducted an extensive…
