Wynn Group pulls out of Freeport resort purchase

first_img Related Items:#AMResorts, #magneticmedianews, #WynnGroup Facebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, August 25, 2017 – Nassau – All guessing is unnecessary now as the Wynn Group, in an exclusive interview with the Nassau Guardian has announced that it will pull out of the Grand Bahama deal to purchase the three resort strip and is now looking to get its refundable deposit back from owners, Hutchison Whompoa.Wynn is still not saying why they have opted out of the purchase though and are not revealing what was in the agreement, described as a bullet point letter of intent with the PLP Administration in May.    What was said is that while Wynn will work with  any of the resorts to see the revival of the Lucayan Strip, they prefer the #AMResorts which is the largest tour operator in the United States.AMResorts accounts for 20% of bookings within the Caribbean and Mexico and currently has no footprint in The Bahamas.    #WynnGroup, CEO, Paul Wynn shared much in that interview including that they are still interest in Grand Bahama if the Government was interested in revisiting their idea of what must happen on the troubled tourist strip.The Wynn Group is moving onto other business in Nassau; a hotel to come for Goodman’s Bay called, the Kimpton Hotel.#MagneticMediaNews Facebook Twitter Google+LinkedInPinterestWhatsApplast_img read more