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Andros Island to Feature 'Eco-Tour' Theme Park11 May 1999Andros Island Hotel & Casino, Inc., is expanding its property on the island of Andros in the Bahamas to include an "Eco-Tour" theme park, similar to those under development in Costa Rica. Shortly after selling nearly 1.2 million shares of its common stock to free up some spending money, the company announced that it has acquired an additional 1,800 acres of land which surrounds (on three sides) its current 80-acres of beach front property. The theme park is an addition to initial plans of building a hotel, marina and casino. The company reported that discussions are currently in progress with developers who have Eco-Tour development experience and that a major hotel and resort company has expressed an interest in joint-development and possibly joint-ownership. The project is expected to take 18 to 24 months to complete. Necessary funding is estimated to exceed $15 million. |