The Tribune

By PAUL G TURNQUEST

Chief Reporter

Reporting from China

pturnquest@tribunemedia.net

MACAU, China - GLOBAL Gaming Asset Management CEO William Weidner believes that the combination of Atlantis and Baha Mar will add strength to the Bahamas as a gaming destination.

Speaking on the heels of having been selected as the casino operators for the $3.5 billion integrated resort, Mr Weidner said when Baha Mar is completed in December 2014 it will truly be, “once again, better in the Bahamas.”

“There are few places that are of this scale anywhere, and when you build something of this scale if there is a way of creating your own brand in ownership and being able to then heighten the awareness of the destination at the same time. When you hear someone say Baha Mar, it almost sounds like Bahamas.

“When you develop something of this size, what Vegas taught us, when I was in Vegas in 1995 we tore down the Sands in 1997 and opened the Venetian in 1999.

“What was The Venetian? The Venetian was a $2 billion place but it created its own brand. And it’s been done with places like whether it is Wynn, when after he left and he opened Bellagio. These integrated resorts of this scale do create their own brand. So now

it’s up to us to make it not only uniquely a casino and call it a tourist destination, but uniquely Bahamian. So it’s a combination that allows the destination to also complement the brand.”

Minister of Tourism Obie Wilchcombe, who flew into Macau to be a part of the big announcement, said for the Bahamas, Baha Mar creates the potential of a “giant jackpot”.

“The Bahamas has had gaming for a very long period of time but it always served as an amenity. I think what Baha Mar is doing now is causing for the Bahamas to be transformed into a gaming destination, so this is revolutionary.

“And when you think of the Bahamas’ entry into the tourism industry 50 years ago we didn’t have much competition in the region. Well today is a different world.

“So what gives us the edge? Well we have taken a step towards that edge right now. And I think to be able to get the partnerships that Baha Mar has gotten with someone who has the experience of the West and the East, and have been able to make some things work and cause for development and growth in Las Vegas, and in Macau, is now coming to the Caribbean.”

Baha Mar CEO Sarkis Izmirlian said that as they met with all the biggest gaming companies in the world, and listened to what they had to offer the project, it became clear that GGAM was truly the right partner for Baha Mar.

“They are the most experienced team. They understand Asia better than anybody else. They have built and opened and operated the biggest and most successful casinos in the world and they are completely aligned with our interest in making sure that Baha Mar is successful. So as I got to know Bill and Brad (Stone) and Garry (Saunders) and their team I got more and more comfortable that GGAM were the right guys. And at the same time we made the strategic decision of branding Baha Mar, Baha Mar.

“Because after all we are spending $3.5 billion creating a resort which is about the Bahamas and which will put us on the map. So we don’t need another name, we are our own brand. And it is great that we are in Macau to announce it. Asia is the future of gaming as you see. This year it will have a $40 billion market. I mean it is just enormous. So we thought we should bring the announcement to the future of gaming and tell the world that actually we are going to take it back to where we are, we are going to take it back to the Bahamas.”