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Bahamas Board to Consider License Applications

30 November 2005

BAHAMAS – As reported by the Bahamas Journal: "The Gaming Board is set to formally consider the proposed casino licenses for PNK Exuma and the Baha Mar Enterprises Ltd. next week as both enterprises pursue plans to either establish or expand their interests in The Bahamas.

"PNK intends to invest $5 million into the operation of a casino at the Four Seasons Emerald Bay Resort in Exuma, while Baha Mar wants to take over the enterprise already in operation at the Wyndham Nassau Resort on Cable Beach.

"…PNK is the trade name for Pinnacle Entertainment, which announced last year that it has signed a letter of intent to sublease adjoining premises from the Emerald Bay Resort for the casino planned for approximately 5,000-square-feet of space.

"…Starwood Hotels and Resorts has renewed its commitment to the Bahamas by joining forces with Baha Mar and Harrah's Entertainment for a $1.6 billion 'resort metropolis' at Cable Beach.

"Baha Mar plans to invest $7 million in the renovation of the former Crystal Palace Casino at the Wyndham…"

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