By the Caribbean Journal staff
Resorts World is significantly expanding its investment in the Bahamian island of Bimini.
The company has revised its business plan from an initial investment of $150 million to $600 million, Bahamas Prime Minister Perry Christie said.
Christie was speaking at the signing of the Supplemental Heads of Agreement between the Bahamian government and Resorts World and its partners.
The initial phase of Resorts World’s investment included a 300-room Hilton hotel (200 rooms of which have been activated); an airport expansion and the construction of a deep-water jetty for the company’s high-speed cruise ship from Miami.
Under the new agreement, Resorts World has been granted options on several new projects, including the lengthening of Bimini’s airport runway to 9,000 feet and the development and construction of a water taxi terminal on the lagoon side of the airport.
Additionally, Resorts World plans to build another hotel with a minimum of 200 rooms, Christie said.
“The Government and the developers have also agreed to undertake the resurfacing of additional roads in Bimini and to increase infrastructural expenditure from $10 million to $15 million with the developer making the initial capital outlay to be repaid in deductions from casino fees,” Christie said.
The projects will also include construction of housing for employees and residents as part of a planned community.
Right now, 525 Bahamians are full-time employees at Resorts World Bimini, with another 100 full-time jobs expected by the end of this year when all 300 rooms at the Hilton are slated for completion.