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Tuesday, March 11, 2008

Harrah's drops Bahamas plans

from this afternoon's GlobeSt (3/11):

UPDATE Last updated: March 11, 2008 12:10pm

Harrah’s Bowing Out of Bahamas Deal
By Brian K. Miller

"LAS VEGAS-Harrah’s Entertainment told Baha Mar Resorts last week that it was terminating their joint venture agreement to develop a multibillion-dollar resort on 1,000 acres in the Bahamas that included a 100,000-sf casino and more than 3,000 hotel and condo-hotel units. Baha Mar Resorts revealed the notice on Friday, saying it has sent its own notice to Harrah’s questioning the gaming resort operator’s ability to unilaterally terminate the agreement." ...

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