US$600 million resort expansion.Kerzner International Ltd. said it had reached an agreement with the Government of the Bahamas for a US$600 million expansion of its Caribbean hotel, water park and casino casino or cassino (both: kəsē`nō).
1 Card game played with a full deck by two to four players. Its origins are obscure though it probably traces back to the Italian game of Scopa. Atlantis, reports Reuters Reuters
British cooperative news agency. Founded in 1851 by Paul Julius Reuter, it was initially concerned with commercial news but began to serve a growing newspaper clientele after the London Morning Advertiser subscribed in 1858. (May 27, 2003):
The resort and nearby smaller resorts would expand in two phases by late 2006. Improvement will include 1,200 new rooms at Atlantis in addition to the 2,300 currently, new water attractions such as a "dolphin dolphin, fish
dolphin, large, swift game fish, Coryphaena hipparus, also called dorado. It is of nearly worldwide distribution in warm waters. encounter", restaurants, retail spaces and convention space. A time-share project will add 120 two-bedroom suites and Kerzner may develop a new golf course with the government. The company will begin with a $100-million expansion of its One & Only resorts late this year and proceed to the second US$500 million phase, including the hotel addition to Atlantis on Paradise Island For the DC Comics fictional island formerly known as Paradise Island, see Themyscira
Paradise Island is an island in the Bahamas, north of the island of New Providence which is home to (Nassau). It is best known for the sprawling 'Vegas-by-the-sea resort' Atlantis. , by the end of 2004, with completion by Christmas 2006;
Kerzner President Butch Kerzner said he expected that revenue per available room, or RevPAR RevPAR
A performance metric in the hotel industry which stands for "revenue per available room." RevPAR is typically calculated by multiplying a hotel's average daily room rate (ADR) by its occupancy rate. , would be steady in the second quarter, compared with a year earlier. "Booking patterns have now returned to normal levels following the end of the this war," he said, referring to the U.S. war in Iraq;
He added that the Bahamas agreed to improve Nassau International Airport and the roadway systems, casino tax exemptions tax exemption, immunity from the requirement of paying taxes. Federal, state, and usually local law provide exemption from taxation for a wide variety of organizations, usually not-for-profit, such as churches, colleges, universities, health care providers, various , and exemptions from import duties on construction materials. Kerzner said it would finance the development through free cash flow and existing debt capacity.