Harrahs Entertainment and Starwood Hotels and Resorts Worldwide recently announced their partnership in the building of a new casino in Bahamas. The estimated cost of the project is 1.6 billion dollars. This resort will be the biggest in the Caribbean. Located on New Providence Island, on Nassau Cable Beach, the Baha Mar, as the casino will be named, will include a huge casino and six hotels, which altogether will offer 3,550 rooms to future guests. The main investor of the project is Baha Mar, with 57 percent, followed by Harrahs, with 33 percent and Starwood with 10 percent.
The Baha Mar has been scheduled to open in 2010. The resort is mainly aimed at families and young people. Apart from the hotels and the casino, the resort will include a golf course, a retail center, restaurants and bars, as well as a beautiful natural background of splendid beach, waterfalls, and canals. The company that was in charge of the design of the Wynn resorts in Vegas and the Bellagio will also be responsible of Baha Mars design.
Atlantis casino-resort will have to face a fierce competition, when Baha Mar will open. The 2.300-room hotel built on Paradise Island has been the industry leader of the Caribbean area for many years. Harrahs Entertainment Inc., bought Caesars Entertainment recently, and is planning to build a huge Caesars casino at the resort. In its turn, Starwood Hotels and Resorts Worldwide will build and manage brand hotels, such as St. Regis, Westin, or Sheraton.
