Tell a friend about this website Contact us (Suggestions, complaints, corrections, etc.) Bookmark this page because you'll need it later (OR you can also press CTRL-D)

Note: This article archives are meant to be reference material for MalaysiaCentral.com's internal staffs only.

NEW YORK: Casino operator Harrah's Entertainment Inc and Starwood Hotels & Resorts Worldwide Inc are joining forces to build the largest resort in the Caribbean at a cost of US$1.6 billion (RM6.04 billion).

The Baha Mar "resort metropolis" will be located on Nassau's Cable Beach area of New Providence Island and offer a massive casino and six hotels with a total of 3,550 rooms.

Set to open in 2010, the resort is a direct challenge to Kerzner International Ltd's nearby 2,300-room Atlantis on Paradise Island in the Bahamas.

Harrah's, which bought rival Caesars Entertainment this summer, is to build a 95,000 sq feet Caesars casino -- the size of two football fields -- at the resort.

Starwood will build and run hotels under its Sheraton, Westin, W and St Regis brand names. Privately held Baha Mar Development Co will run services tying the resort together.

Baha Mar will lead the investment with 57%, followed by Harrah's with 33% and Starwood with 10%. The resort -- aimed at young adults, families and convention customers -- will feature an 18-hole golf course, long beachfront, 55ft-high waterfall and a network of canals connecting the casino, hotels, shops and open-air restaurants.

The resort's design team also worked on the Bellagio and Wynn resorts in Las Vegas. Harrah's shares rose 65 cents to US$63.98 on the New York Stock Exchange, while Starwood rose a cent to US$58.60.

Tell a friend about this website Contact us (Suggestions, complaints, corrections, etc.) Bookmark this page because you'll need it later (OR you can also press CTRL-D)