Genting Group investing $300M in casino in Bahamas

Sep 23, 2013 6:36 PM

Malaysia-based Genting Group is investing some $300 million in a casino entertainment project on an island in the Bahamas that has few year-round residents.

But, they aren’t the people Genting is counting on to support the project. It’s the hundreds of visitors who leave the cruise ships that stop at Bimini with tons of money in their pockets. Those are the potential customers Genting is counting on.

After having failed to get the Florida lawmakers to give them a casino license for the Miami area, Genting joined with a local developer to fund the project. Genting opened the casino in June, expects to finish a 150-room hotel by Christmas and will add 50 luxury suites to the hotel sometime in the future.

Genting has gaming projects in various parts of the world, including on the Las Vegas Strip where it has acquired the remnants of The Echelon from Boyd Gaming Corp. (BYD).

Ray Poirier is the longtime executive editor at GamingToday.

Contact Ray at [email protected].

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