The minister of tourism in the Bahamas announced that Treasure Bay Gaming and Resorts, based in Biloxi, Mississippi, will replace Isle of Capri casinos as the operator of the Our Lucaya Casino on Grand Bahama Island. Isle of Capri announced previously that it will leave the Bahamas at the expiration of its management contract for the casino on October 31.
Vincent Vanderpool-Wallace, minister of tourism and aviation for the Bahamas, said Isle and Treasure Bay have worked closely with government officials to assure continued operation of the casino while the transition is made. He also praised Treasure Bay for its decision to retain all current employees of the resort.
“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. “For quite some time, we have considered expansion into the Caribbean, and this casino offers the right operational fit with our portfolio, which includes properties located in Biloxi, Mississippi, and on the islands of St Croix, Aruba and Bonaire.
“As longtime developers and operators of Caribbean gaming properties, we plan to apply our experience at Our Lucaya to achieve strong fiscal results, as we have accomplished in similar jurisdictions. For us, there is no doubt that this property, located on the beautiful beaches of the Bahamas, holds the type of potential that can be enhanced by our proven business model. We will work hand-in-hand with the resort operator and the government of the Bahamas to strive for increased visitations and revenues, resulting in a true shared success.”