Thumbs up from Bahamas for Baha Mar Resort

The Bahamas authorities have approved the gaming licence for casino-resort complex Baha Mar Resort, Bahamas newspaper Tribune242 reported.
The Chow Tai Fook Enterprises (CTFE) property’s soft opening is scheduled for April 21 of this year, with the gaming licence received by its Sky Warrior Bahamas Ltd. subsidiary.
According to Obie Wilchcombe, the Bahamas Minister of Tourism, the application received a ‘comprehensive probity investigation’ based upon eligibility criteria for licensing in the country’s Gaming Act, with the country’s Gaming Board recommending its approval and the granting of ‘associated certificates of suitability.’
The Bahamas Attorney General, Allyson Maynard-Gibson, has also assured that the sealed documents containing the details of the deal that saw the complex being purchased by CTFE last year would be released in April, without specifying if they would be released before the property’s opening.
In December 2016, CTFE signed a US$3.5 billion (MOP28 billion) purchase agreement for the project through its subsidiary Chow Tai Fook Holdings.
The Hong Kong conglomerate acquired Baha Mar Resort by purchasing Perfect Luck Assets Limited (Perfect Luck), a special purpose vehicle (SPV) held by Chinese state-owned Export-Import Bank of China, which according to the newspaper requested the deal documents be sealed.