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KUALA LUMPUR, Sept 12 — Genting Malaysia Bhd’s indirect 70 per cent-owned unit, BB Entertainment Ltd (BBEL), is acquiring a piece of land from RAV Bahamas Ltd for US$24.6 million (RM78.6 million).
The land, measuring 6.6 hectares, is in the Bimini Islands, Bahamas.
BBEL is building a 307-key hotel on the land and it is adjacent to the Resorts World Bimini, Genting said in a filing to Bursa Malaysia here today.
“By acquiring the land, Genting Group will have better control in terms of planning for future development and expansion,” it said.
RAV’s principal activity is real estate development on the island of Bimini in the Bahamas. It currently holds a 30 per cent interest in BBEL.
BBEL is the owner and operator of the Bimini Casino in Resorts World Bimini. — Bernama