Mr. Kerzner has been spending a lot of time in New York and London and reportedly intends to invest in a home in The Bahamas.<\/P><\/p>\n
He also plans to spend more money in The Bahamas because of his permanent residency status, the Journal has learnt.<\/P><\/p>\n
In addition, the permanent residency is expected to attract more international investors here who would wish to have residency.<\/P><\/p>\n
Mr. Kerzner, who employs the largest number of Bahamians outside of government, has residences is several cities worldwide.<\/P><\/p>\n
His permanent residency comes as he prepares to move his multimillion-dollar expansion of Atlantis Paradise Island into full swing.<\/P><\/p>\n
Construction of his new 1,200-room hotel is expected to begin in the last quarter of 2004.<\/P><\/p>\n
Atlantis has a total workforce of about 6,000 and Mr. Kerzner, during the groundbreaking of Phase III last September, promised to employ another 4,000.<\/P><\/p>\n
The completion of Phase III, which is scheduled in 2006, will bring Kerzner\uffb4s total investment on the island to $1.7 billion since it opened Atlantis in 1994.<\/P><\/p>\n
A lot is riding on the expansion with Prime Minister Perry Christie and his cabinet pointing continuously to the rewards Bahamians will reap from the development, which is expected to provide a significant boost to the local economy.<\/P><\/p>\n
Mr. Kerzner, who is known in South Africa as the Sun King, is said to have a golden touch that has made him one of the wealthiest entrepreneurs in the world.<\/P><\/p>\n
The casino magnate owns hotels in Mauritius, Mexico, the United States and Dubai and is involved in many other \uff93larger-than-life\uff94 projects intended to \uff93blow away the customer.\uff94<\/P><\/p>\n
The UK Guardian reported recently that: “Shareholders in Wembley, the gaming and dog tracks company, have been offered an extra \uffa37.6m (US$13.48 million) in an increased bid from a group of investors including the South African gambling tycoon Sol Kerzner.\uff94<\/P><\/p>\n
Kerzner and his son, Butch, also announced late last year that their company had reached agreement with another company to develop a new six-star luxury hotel in Cape Town, South Africa.<\/P><\/p>\n
But Kerzner is also involved in other ventures aimed at improving hospitality industries.<\/P><\/p>\n
Last December, for instance, he announced that he was donating millions of dollars toward the building of a new School of Tourism in Johannesburg, the first combined hospitality and tourism training school in the country.<\/P><\/p>\n
The Bahama Journal<\/B><\/p>\n","protected":false},"excerpt":{"rendered":"
The Government of The Bahamas has agreed to award Johannesburg-born gaming tycoon Sol Kerzner permanent residency, the Journal has learnt.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[12],"tags":[],"class_list":["post-245303","post","type-post","status-publish","format-standard","hentry","category-headlines"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/245303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=245303"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/245303\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=245303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=245303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=245303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}