Tuesday, December 8, 2009

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No dice By Scott Armstrong ~ Guardian Business Editor ~ scott@nasguard.com: PLAY has been suspended at the Our Lucaya Casino in Grand Bahama this week as the venue transfers from its previous owners Isle of Capri to new owners Treasure Bay Gaming & Resort. A statement from the Ministry of Tourism & Aviation said that all casino play would be suspended until November 30. Casino employees will be fully utilized during this one-week period, the statement said, preparing the premises for new management, including undergoing training programs. It is the beginning of a new chapter for the casino, which has faced nervous times when Isle of Capri announced it was pulling out. Earlier this month The Nassau Guardian reported how the new operator, based in Biloxi, Mississippi, planned to upgrade the casino's equipment and introduce a vibrant marketing program. In addition, apart from some employees who elected to accept severance benefits, the remainder of the 200 plus staff continued in the employment of Treasure Bay. "The selection of Treasure Bay as operator of Our Lucaya offers our company a new opportunity for strategic growth in resort markets," said Treasure Bay COO Susan Varnes in a statement at the beginning of November "For quite some time, we have considered expansion into the Caribbean, and this casino offers the right opera- tional fit with our portfolio, which includes properties located in Biloxi, Mississippi, and on the islands of St. Croix, Aruba and Bonaire. Back in March, the Isle of Capri announced that they would not be renewing their lease, which ended on May 31. Since then, the government worked out an agreement with them to stay on until a new operator was found. Treasure Bay Gaming and Resorts Inc. owns and oper-ates Treasure Bay Casino and Hotel in Biloxi and Divi Carina Bay Casino on St. Croix, Virgin Islands. The company also manages the Alhambra Casino in Aruba and the Flamingo Casino in Bonaire. Isle of Capri confirmed in March that it will shut down operations in Freeport at the end of May, effectively leaving its 234 employees in limbo. The U.S.-based company said it made a decision to focus on domestic operations. Grand Bahamas' economy will be dealt another crushing blow as the Isle of Capri casino, which operates out of the Our Lucaya hotel, confirmed yester- day that it will be shutting down its operations at the end of May, effectively leaving its 234 employees in limbo. In an interview with The Nassau Guardian yesterday, Isle of Capri Senior Director of Corporate Communications Jill Haynes said the move was the result of a decision the company recently made in concordance with its "strategic corporate plan". "(We) have notified the gov- ernment and our employees that we will not be renewing our lease when it expires in May," Haynes said. "The Isle of Capri is focusing on our domes- tic operations as part of our strategic corporate plan." That plan, according to Haynes, includes shutting down operations in The Bahamas and the United Kingdom and focusing on the 18 casinos and 8,000 employees that the St. Louis, Missouri, based corporation has in North. Wednesday, November 25, 2009