Published
Legal & Regulatory

Former Baha Mar developer calls for moratorium on sale

BMD

BahaMar
Holdings, the original developer of the Baha Mar resort, has called for a moratorium on the sale of Baha Mar to Chow Tai Fook Enterprises (CTFE) amid claims of potential corruption in relation to concessions granted by the previous government of the Bahamas.

According to BMD, such concessions included acceding to CTFE’s demands for increased power generation from Bahamas Power and Light, as well as granting 1,200 new Chinese work permits instead of hiring locally, to finish completion of the resort.

In a statement issued on Monday, the company said: “These documents confirm the nation's fears that the previous administration had engaged in the wholesale giveaway of hundreds of millions of dollars in tax waivers and concessions that the country could not afford and that rightfully should have been earmarked for The Bahamian people, solely to facilitate a charade of a sale in the lead up to the general election last May.

“The agreement also clearly raises the concern about the potential of corruption and self-dealing by members of the previous government, even beyond the now public self-dealing by the former Attorney General," the company added.

BMD Holdings has also urged the new government of the Bahamas, led by Prime Minister Hubert Minnis, to “reopen the casino licence investigation” and publicly disclose the Gaming Board’s assessment of CTFE’s suitability.
Premium+ Connections
Premium

1xBet Partners

 
Premium

Revsharks

 
Premium

Imagine Live

 
Premium

GammaStack

 
Premium

Galaxsys

 
Premium

PIN-UP Partners

 
Premium

Sport Generate

 
 
Premium

RISK

 
Premium

Lynon

 
Premium

Digitain

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...