Marriott Casino, Entertainment Complex still on hold – Harper

first_imgThere has been no firm decision taken as yet to outfit the Casino and Entertainment Complex at the Marriott Hotel in Kingston, Georgetown.This was confirmed by Beverly Harper, the Chairperson of Atlantic Hotel Inc (AHI), which owns Marriott Guyana.The AHI chairperson was at the time debunking reports in sections of the local media to the effect that AHI has made a decision to go ahead with the outfitting of the Casino.Harper told  Guyana Times  that AHI would certainly like to have the Casino and Entertainment Complex outfitted before any sale of the property could be made since it would be the more economical option.The AHI chairperson further indicated to this newspaper that at present, the company is in receipt of proposals and is in fact open to receiving proposals to outfit the Casino and Entertainment Complex.However, she explained that any such proposal would have to meet the Marriott International’s requirement, adding that it certainly could not be any competing interests such as existing hoteliers.According to Harper, the shell/building for the Casino and Entertainment Complex is completed and is the building adjacent to the current hotel operations.She explained that the building had been constructed as part of Phase I of the construction of the facility—a project that had been undertaken by the People’s Progressive Party/Civic (PPP/C) regime.Recent media reports have been fuelled by an advertisement appearing in the local dailies indicating that AHI was ready to embark on Phase II of the operation, which includes the outfitting of the Casino and Entertainment Complex but the advertisement being referred to is essentially for an available position of Accountant.Forensic Auditor, Anand Goolsarran had cautioned against proceeding with the outfitting of the Casino and Entertainment Complex.His recommendation had come in an audit he had undertaken of AHI, given the lack of market intelligence on the operations of casinos among other considerations.In the report, Goolsarran said: “The Entertainment Complex is too risky a venture for the Government to undertake.”He had also recommended that Government should proceed with haste to advertise for the sale of the hotel, bearing in mind that the Management Agreement with Marriott International is for 30 years, renewable for another 10 years.That Agreement, he observed, does provide for the sale of the hotel to a reputable individual or firm so that it can roll-over to the new owners.He suggested that Government alternatively retain majority interest in the hotel and offer 49% of shares to the public and institutional investors, such as banks and insurance companies.last_img

Leave your comment