Will Vici Properties $VICI (+0.7%) to the Bahamas next ?!?
The rumors that the Real Estate Investment Trust, which was spun off from Caesars Entertainment in 2017, may be interested in investing in Atlantis stem from the Central Bank of the Bahamas' latest quarterly report on economic and financial developments.
The bank's "Selected New Foreign Investment Projects" summary listed Vici and Atlantis owner Brookfield Asset Management $BAM (+0.45%) were listed as recently approved foreign companies for further investment in The Bahamas via New Providence.
Reports surfaced both in 2019 and last year that Brookfield was looking to sell Atlantis for around $2.5 billion. However, a takeover never materialized. Now Brookfield appears to have found a partner to invest in either ownership and/or expansion of the ocean-themed hotel.
The aforementioned 382 million dollar project could be a rejuvenation of a project that Atlantis 2022 launched in partnership with David Grutman of Groot Hospitality and music producer Pharrell Williams. The 400-room hotel called "Somewhere Else" was to be built near The Coral. However, the ground-breaking ceremony for the project never took place.
Vici might as well just buy a piece of Atlantis with its $382 million presentation, which was approved by the Central Bank of the Bahamas in September. Requests for comment from Vici, Brookfield and Atlantis have so far gone unanswered.
