Trump Casinos
Trump Eyes Panama
Trump name has always been synonymous with luxury and power. Trump hotels can be seen everywhere in the United States with casinos and all the modern amenities. So, what is so important with this new one that it needs an official announcement for its construction? Trump Organization is opening Trump Ocean Club International Hotel & Tower in Panama’s Punta Pacifica peninsula. This would represent the first Trump casino brand being taken internationally.
Sure, Donald Trump has taken his name globally, opening nongaming projects such as condominiums, golf courses and hotels across the globe. But, this is the first Trump casino brand offshore. With the booming real estate market in Panama, Trump Ocean Club could not have chosen a better time to construct their building. And with the Trump’s name, there is no doubt that this casino hotel would be profitable as all other investments of the Trump Organization.
Trump Organization shared the project with K Group, a development company in Panama, headed by Roger Khafif. The Trump Entertainment would be allowed to operate their casino, which is estimated to be 2,787 to 3,251 sq m in size, as long they are under the lease and contract that states that they should give a cut of their gaming revenue to the development group. Through nothing is still confirmed – negotiations are now in process.
This is project is estimated to cost more or less $400 million in development and be completed by 2010. Because of its flexibility, it allows a lot of different investment opportunity to arise without a lot of additional capital.
Experts say that the reason why the American gaming companies never entered the UK market because UK never changed their gaming rules. With Trump aboard in Trump Ocean Club, there will probably be some arrangement or management contract where he can be a co-developer. Not much money in that arena, but potentially big rewards for his overall hotel profit.
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