Chow Tai Fook acquires Baha Mar

The Hong Kong investor in casino resorts announced its plan to acquire the casino resort in October.

Hong Kong.- Hong Kong-based Chow Tai Fook Enterprises Limited announced that they signed an agreement to acquire and operate Baha Mar Resort in the Bahamas. The deal allows Chow Tai to acquire all capital of Perfect Luck Assets Limited, which sets the company as the full owner and operator of the resort.

Former  VP of Operations at Rosewood Hotels & Resorts and current president of the Chow Tai subsidiary in the Bahamas, Graeme Davis, said: “Chow Tai Fook Enterprises Limited (CTFE) will dedicate significant, ongoing investment and resources towards the pre-opening and opening of Baha Mar Resort. We will also ensure that the Bahamian people and the region benefit fully from the project, which will create tremendous job and economic stimulus opportunities. Further, by combining our global hospitality expertise with the vibrant and authentic Bahamian culture, we will create a memorable, unmatched experience for guests of which all Bahamians can be proud.”

Chow Tai said that they will begin the hiring process in January. 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.