Atlantis keeping expansion plans close to its chest
Guardian Business Reporter
Published: Oct 07, 2013
On the heels of the opening of its new $5 million Cantor Gaming Race and Sports Book, Atlantis has revealed it is planning the development of another new gaming facility in the next nine to 12 months.
President and Managing Director of the Atlantis Resort George Markantonis said the company has invested an estimated $35 million in capital expenditure projects, adding “we are not done yet”.
Just in casino upgrades alone Markantonis confirmed that $18 million has been spent. This includes the construction of Todd English’s Olives Restaurant and the Moon Club, which both opened in July, and the Cantor Gaming Race and Sports Book facility that was officially unveiled last week.
Back in June, Markantonis stressed that the resort would not expand its 60,000-square-foot casino but the amenities around the casino. But with the success of its Cantor Gaming Race and Sports facility, Markantonis said they are considering adding another amenity within the next year or so in the space where the resort’s old sports book facility was located.
“I think it’s prime gaming space. It’s located in the middle of our casino. So I think it gives us an opportunity to add yet another new casino or gaming amenity in the next nine to 12 months,” he said.
“We have a lot of ideas with what we are going to do with it but none that I am going to share because we wouldn’t want to give anyone any kind of competitive advantage.”
The $18 million investment in expanding amenities around the casino is a move Markantonis has said will translate into hundreds of jobs for Bahamians. There are also plans to add poker rooms and redo the Seaglass casino, which is located in The Cove.
The upgrades come as casino operators in the country await the proposed Gaming Bill to be tabled and passed in Parliament.
Gaming Board Chairman Dr. Andre Rollins has said that he anticipates the bill to be before Parliament before year’s end, a move that could make The Bahamas a major player in the multi-billion dollar gaming industry.
The proposed Gaming Bill would introduce an entirely new mobile and online gaming segment to the Bahamian resorts’ gaming offerings, allowing The Bahamas to tap into what is projected to be a $100 billion industry globally in 2015.