Booming business for Bimini Bay

$250m Project To Make Bimini ‘The Hamptons Of The Bahamas’

THE Bimini Bay Resort's developers yesterday said they were aiming to transform Bimini into "The Hamptons of the Bahamas" via their next $250 million development phase, a project that could potentially generate several hundred full-time jobs for Bahamians.

Leslie Bethel, chief operating officer for RAV Bahamas, told Tribune Business that the high-end Rockwell Island real estate development, to be constructed across three islands...

Closer to a bailout? FHA’s mortgage delinquencies soar

Delinquencies and foreclosures of FHA-backed mortgages are soaring, putting further strain on the housing agency's...

ROCKWELL ISLAND BEACH ESTATES LAUNCHES IN BIMINI

Located just a short hop by plane or boat from Miami, Bimini has long held an exalted place among tropical getaways. Author Ernest Hemingway spent many a day fishing these Bahamian waters and a long line of sportsmen and pleasure seekers have followed in his wake. Set to launch in 2012 along the beach of North Bimini, Rockwell Island Beach Estates will offer a collection of villas and a host of luxury amenities, including a state-of-the-art we...

Genting expands into the Bahamas

After the setback in Genting Malaysia Bhd's venture in Miami, the company has bounced back with a new casino development in the Bahamas worth US$24mil (RM74mil). It was reported that the company had entered into a joint venture (JV) agreement last Friday with RAV Bahamas to open Resort World Bimini Bay, a luxury boutique casino on Bimini Island. The 10,000 sq ft casino is set to be open in December at the Bimini Bay Resort and Marina, in no...

Casino to catapult Bimini’s economy by 25%

A senior government official estimates that the Resorts World Bimini Bay casino should catapult the tiny island's economic output by 25 percent in the first year alone. The 10,000-square-foot facility will be the first large-scale gaming center in the Family Islands, according to Obie Wilchcombe, the minister of tourism. He said that Bimini's location on the doorstep of the U.S. positions it as an exotic hub for the gaming public. "Bimin...

While Genting Awaits Destination Casino License Fate in Miami, Today They Announce Resorts World Bimini Bay Casino Just 45 Miles Off Miami’s Coast

(Miami, FL) -- While waiting on the fate of their proposed $3.5 billion uber-luxe Resorts World Miami destination casino gambling license with the State of Florida legislature next year, Genting Group pulls the trigger with a boutique smaller casino just 45 miles off Miami's cost on the island of Bimini. Today RAV Bahamas LTD., developer of Bimini Bay Resort & Marina and Rockwell Island Beach Estates has announced a new partnership with Gentin...

Malaysia’s Genting planning to open casino 50 miles east of Miami

Malaysian firm Genting, which plans to develop the Resorts World casino project in Miami if it can receive legislative approval, has announced it will open a new casino just over 50 miles east of the city on the island of Bimini in the Bahamas. The 10,000-square-foot project at the Bimini Bay Resort, which is a partnership with RAV Bahamas, a subsidiary of Miami developer the Capo Group, is set to open in December. “It’s a $24 million investm...

Bahamas seeks Genting investment beyond Bimini

Ties between Miami’s Capo family and Genting’s Lim family led to a casino deal for Bimini. Bahamas’ officials would like Genting to invest in other island venues, too. NASSAU -- If Bahamian government leaders have their way, the opening of Resorts World Bimini Bay will be only the beginning of Genting Group’s footprint in the country. Bahamas Tourism Minister Obie Wilchcombe said Friday he has been in discussions ...