Two years after Trump Ocean Club (below) opened in Panama City, construction has restarted on plans to equip the luxury retreat with the largest casino in Central America.
The venue had been stalled over financial difficulties on the part of the developer, Newland International Properties, which entered U.S. Bankruptcy Court in May to negotiate a restructuring of $220 million in debt, a process that is now complete.
The casino could be open as early as February, but is more likely to debut later in 2014, according to Managing Director Mark Stevenson, who said designers are “in the final stages right now of completing the final planning and detailing.”
Trump has an agreement with South Africa-based Sun International to operate the 7,000-square-meter gambling hall in exchange for a payment of US$45.5 million and another $60 million to build out the facility. Sun also will take over a block of hotel rooms for marketing to high rollers.
The casino will be Sun’s second in Latin America. The company also developed the Monticello gaming resort near Santiago, Chile.
