Baha Mar Announces Casino Partner
Global Gaming Asset Management (GGAM), known for its work in Las Vegas, Macau and Singapore, will manage the Baha Mar Casino & Hotel when it opens in December 2014. The international firm played a leading role in Venetian Macau, which boasts a nearly 500,000-square-foot casino floor.
The casino serves as the centerpiece of the biggest resort project now under construction in the Western Hemisphere. Baha Mar said it will unveil the largest gaming facility by floor space in the Caribbean.
Executives from the $3.5 billion mega resort in Nassau made the announcement at the opening of G2E Asia 2013 in Macau. The exhibition attracts the who’s who of the gaming world from dozens of countries.
“GGAM has proven itself in every major gaming market it has entered – Las Vegas, Atlantic City, Macau, Singapore and Manila – and have succeeded,” said Sarkis Izmirlian, the CEO of Baha Mar.
“They’re a powerhouse of casino management, database marketing, junket operations and convention business, all of which will help to position Baha Mar as the next iconic gaming destination.”
The announcement ends months of speculation and indeed serves as the last big piece of the puzzle for the rising mega resort.
It also marks a final coming of age following Harrah’s withdrawal from the project many years ago. Shortly after that setback, the Export- Import Bank of China and China Construction America threw their hats in the ring and changed the fortunes of the project.
Obie Wilchcombe, the minister of tourism, was on hand for the announcement.
“We’ve been able to witness firsthand the outstanding international gaming resorts developed by the GGAM team. They are uniquely qualified to take advantage of the pending modernization of the country’s gaming regulations to provide Baha Mar and The Bahamas with a sustainable competitive advantage.”
The Baha Mar casino is expected to have a strong Asian influence and hopes to attract tourists from that region. Baha Mar executives estimate at least one-third of its business should come from gambling.
By Jeffrey Todd
Guardian Business Editor