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Baha Mar: Harrah's Unveils Plans Casino Resort In Bahamas

By Chuckmonster on Monday, 7th November 2005 10:33am
  » filed under Las Vegas  comments: 0

   

Casino operator Harrah's Entertainment Inc. (HET.N: Quote, Profile, Research) and Starwood Hotels & Resorts Worldwide Inc. (HOT.N: Quote, Profile, Research) said on Monday they planned to build the largest resort in the Bahamas.

The resort, to be called Baha Mar, will be located on Nassau's Cable Beach area of New Providence Island.

The companies, along with Baha Mar Development Co., will put up to $2 billion into the 2,400 room resort, The Wall Street Journal reported on Monday, putting it in direct competition with the 2,317-room Atlantis resort on Paradise Island in the Bahamas, owned by Kerzner International Ltd. (KZL.N: Quote, Profile, Research)

Harrah's, the No. 1 casino company after buying rival Caesars Entertainment this summer, is to co-own the resort with Starwood, whose hotel brands include Sheraton. Westin, W, and St. Regis.



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