Harrah's plans to open Casino Resort in the Bahamas
The world's biggest casino operator, Harrah's Entertainment plans to construct a casino resort in Nassau, Bahamas. Las Vegas-based Harrah's will team up with Starwood Hotels and Resorts to operate the new Baha Mar. The creator of this new resort is Sarkis Izmirlian. He recently purchased the Crystal Palace Casino and the Wyndham Nassau Resort.
Even though Harrah's Entertainment Inc. was greatly affected by Hurricane Katrina, destroying three of the gaming company's casinos, the casino giant's revenues have increased by over 40%. Buying Caesars Entertainment this year also helped their financial situation.
The only company not excited by this news is Kerzner International. They own and operate the Atlantis Bahama Resort. Sol and Butch Kerzner believe that the competition will be fierce, even calling it a "bloodbath". The only consolation for Kerzner Inc. is that the Bahamian government has stated that it will allow only two casinos in the country for the next twenty years.
Even though Harrah's Entertainment Inc. was greatly affected by Hurricane Katrina, destroying three of the gaming company's casinos, the casino giant's revenues have increased by over 40%. Buying Caesars Entertainment this year also helped their financial situation.
The only company not excited by this news is Kerzner International. They own and operate the Atlantis Bahama Resort. Sol and Butch Kerzner believe that the competition will be fierce, even calling it a "bloodbath". The only consolation for Kerzner Inc. is that the Bahamian government has stated that it will allow only two casinos in the country for the next twenty years.
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