(Caribbean Journal) Sun International has signed an agreement with developer Newland International Properties to own and operate a 75,000-square-foot casino at the Trump Ocean Club International Hotel & Tower in Panama.
The company, which is based in Johannesburg, South Africa, acquired several spaces within the 70-story development for the casino.
It plans to invest $105 million for the acquisition and build-out of the project, which is slated to open by mid-2014.
“Sun International is a globally-recognized company known for its superior offerings,” said Roger Khafif, president of Newland International Properties Corp. “The publicly-traded company has a tremendous track record for creating exceptional entertainment services. The casino will be fully integrated within the building, providing an unparalleled, all-encompassing lifestyle experience in Panama.”
The casino will be located on the property’s mezzanine level, featuring 600 slot machines, 32 gaming tables, a restaurant and a lounge. A Salon Prive will be located on the top floor, the penhouse level, with its own restaurant and lounge area.
The floor below will have reserved deluxe suites for “elite clientele,” according to the company.
“Given Trump Ocean Club’s icon status, great location and upmarket brand standards that match our own, we are very confident that, once operational, the casino will attract substantial numbers of both local and foreign visitors,” said Sun International’s Acting CEO Garth Collins. “Furthermore, this opportunity is very much in line with our strategy to focus on the Latin American region. It will create greater presence and brand awareness for us and should significantly enhance our ability to access other opportunities in the region.”
Miami-based Cervera Real Estate is the lead sales consultant for the project.