Chow Tai Fook to acquire Baha Mar casino
The Hong-Kong based company is currently in talks to acquire the casino resort in the Bahamas.
Hong Kong.- The Hong Kong investor in casino resorts, Chow Tai Fook, announced a plan to acquire the Bahamas casino resort project Baha Mar. The company is waiting for the government of the Bahamas to approve the petition to become a “proposed investor and acquirer” of the resort.
Baha Mar is operated by Perfect Luck Assets, the company that Chow Tai Fook wants to buy, and established by China Export-Import Bank the secured creditor of the casino resort. Henry Cheng Kar Shun, Chow Tai Fook’s chairman, said: “Chow Tai Fook Enterprises is looking forward to having Baha Mar join its portfolio of world-class integrated resort development projects. We are fully committed to this project and plan to hire as many Bahamians as possible to work at the property.”
The company is also involved in the investment of casino resorts in Macau, Australia and Vietnam: they acquired a Vietnam casino project controlling stake for US$4 billion, and they’re developing another one in Brisbane. “Chow Tai Fook Enterprises is dedicated to the successful opening of Baha Mar and will work with the government to achieve the goal of a phased opening,” added Shun.
