The Deal On Grand Bahama Not Done Yet
The Prime Minister Hubert Minnis has announced that a letter of intent has been signed between Hutchison Whampoa and the Wynn Group of Steve Wynn of Canada to sell the Grand Lucayan and the Memories Property in Freeport to the Wynn Group. He says the Government now will enter the approval phase of the transaction with the Heads of Agreement to come. They hope that this will be concluded in the first quarter of the year. If that is so, that is good news from Grand Bahama. But no one believes for a minute that the Minnis administration can get it done. They are too soft and craven in order to conclude it. But we shall see. Freeport is as dead as doornail under the FNM.