Bahamas casinos post revenue declines
Casinos in The Bahamas are reporting revenue declines in 2010 as steep as 18 percent in at least one case, Guardian Business has learned.
Of the three casinos in The Bahamas, Crystal Palace saw the highest revenue drop, down by 18.5 percent or $5 million from $27 million to $22 million, while Atlantis offered only that its “revenue was down a little under 2009” by 8 percent. Officials at Treasure Bay in Grand Bahama said it was still too early for them to give a year-on-year comparison, given it only gained control of the operations in late 2009.
However, like other casinos globally, revenue intake seems to have been affected by certain categories of visitors, with information pointing to the largest fall-off coming not from the high rollers at all -- but those visitors likely whiling away time in the casino.
“Spend for low-end players was down by 25 percent per trip [and] 10 percent for VIP segments, averaging to an 18.5 percent overall decline,” said a statement from Robert Sands, vice-president of governmental and external affairs for Baha Mar, which operates the Crystal Palace casino.
Those low-end players are often times lumped in the discretionary spend category that has been affected by the economic downturn. The falloff in that category has led to sluggish growth in visitor arrivals to tourism-dependent destinations like The Bahamas, and has seen casino chairs emptier than they would have been just three years earlier.
“Our casinos have faced the same world economies as any other,” senior deputy secretary of the Gaming Board Dennis Martin told Guardian Business on Wednesday. “We’ve all had some downturn and things are not as good as they would normally be.
“For instance, Crystal Palace has closed for a period of time [and] all that would have an effect on their gross takings and the rest of it.
“Indeed, they are all planning promotions for 2011 that would help lift sagging revenue. Atlantis locked itself in as the setting for international card tournaments like the annual PokerStars Caribbean Adventure last year and for the next two years to come.”
While it may not be able to attract the kind of high-level events like Atlantis, Treasure Bay is looking to roll out the red carpet to get more players at its tables during the first quarter of 2011.
“We have just dropped $28,000 in mail orders to customers inviting them to Grand Bahama,” said new general manager Craig S. Turner. “The incentives range from instant credit to two and three room nights to attract new and existing customers back. So we are waiting for that to take hold, based on the billing at the end of last year, we’re looking for a number of persons to be coming to the island between now and next month.”
Grand Bahama has been especially challenged with growing its air arrivals over the last two years, with most of its visitor arrival growth coming from cruise arrivals. While that segment is important, those visitors do not hold the key to boosting hotel occupancy and the associated spinoff business essential to the growth of that island’s economy.
Crystal Palace said it will maintain very aggressive incentives and rewards to attract profitable players, focusing primarily on free or discount airfare and free rooms as well.
“As a small casino, [Crystal Palace] is unable to provide the same level of complimentaries and cash back to the scale of the larger gaming companies,” Sands said. “Instead, we focus on soliciting trips from known profitable players who are looking for a smaller, more laid-back and intimate setting, where the service experience is more personalized.”
Republished with permission of the Nassau Guardian http://www.thenassauguardian.com/
Jamaican reggae star Buju Banton may face two more drug charges
Federal prosecutor James Preston is reportedly seeking to lay two more charges against Jamaican reggae star Buju Banton when he is retried next month in Florida.
However, his legal team led by David Oscar Markus is fighting the new indictment on the grounds that it is not permissible for new charges to be brought on old information and the weapons charge was a violation of the Fifth Amendment.
The Jamaica Observer reported that Markus said that the chief danger raised by a multiplicitous indictment is the possibility that the defendant will receive more than one sentence for a single offence.
Markus is contending that an indictment is multiplicitous if it charges a single offence in more than one count.
The artiste was tried last September on charges of conspiracy to possess with intent to distribute cocaine, and aiding and abetting the possession of a firearm during a drug-trafficking offence. However, the 12-member panel of jurors was unable to reach a verdict following three days of deliberations. The trial lasted a week in Tampa, Florida.
But should the new indictment stand, Banton will be tried for conspiracy to possess with the intent to distribute cocaine, attempted possession with intent to distribute cocaine, possession of a firearm in furtherance of a drug-trafficking offence, and using the wires to facilitate a drug trafficking offence.
Both sides are now awaiting a ruling from the court on the matter.
If convicted, Banton faces up to 20 years' imprisonment. The United States government would also seek to seize the artiste's assets. A date for the retrial will be set soon.
Investors of the bankrupt Royal Reef Resort in North Caicos seek answers
Investors of the bankrupt Royal Reef Resort in North Caicos seek answers in how to recoup their millions of dollars pumped into the project
One of the Investors of the Royal Reef Resort in North Caicos, has spoken out on behalf of fellow investors, who continue to seek answers as to how they can recoup millions of dollars that they've pumped into the project, that has since folded.
Mr. Donald Clarke and his colleagues believe they have been defrauded by Canadian Fred Pratz, who allegedly built the resort.
Mr. Clarke said they have spent many years of trying to get answers to questions and the current status of their life's savings invested in the Royal Reef Resort questions that he says have all gone unanswered.
Mr. Clarke submitted supporting documents to RTC's Expressions in his bid to seek representation from the powers that be.
Clarke also said he has forwarded correspondences on to the government and after three years of frustration and anxiety, still have no co-operation.
Mr. Clarke submitted supporting documents to RTC's Expressions in his bid to seek representation from the powers that be and speaking with host Robert Hall yesterday, he gave his reasons why the Royal Reef Resort went bankrupt.
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Mr. Clarke said he invested $325,000 of his personal funds into the Royal Reef Resort and collectively, all the condo owners, approximately 40 of them, invested about $15-16 million dollars.
Host of Expressions Mr. Robert Hall gave Mr. Clarke the assurance that the supporting documents sent to Expressions, would be forwarded to the Attorney General and the Financial Crimes Unit.
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Mr. Clarke said he too has spoken to members of the Financial Crimes Unit, who he says have been an extremely dedicated and professional staff; however he noted that because Mr. Patz left the country and went back to Canada, it is now an international endeavor to try to bring him back to face justice, which is why he is soliciting the co-operation of the TCI government, the Financial Crimes Unit and anyone who might be able to right the wrong that has been done to him and the other investors in the Royal Reef Resort.
Clarke said the Royal Reef Resort was supposed to be a source of revenue in many respects.
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Mr. Mr. Donald Clarke, one of the Investors of the failed Royal Reef Resort project in North Caicos, speaking on RTC's Expressions yesterday.
Super movie stars vacation in the TCI
Super Stars continue to make the TCI their choice vacation spot.
Zac Efron whom avid movie watchers might recall as the singing teen basketball star who played Troy Bolton in the hit TV movie, High School Musical, doesn't appear to be moping around after his breakup with Vanessa Hudgens.
An article posted on Canadaeast.com, says the 17 Again star was spotted vacationing on Parrot Cay Island in Turks and Caicos, accompanied by none other than Rumer Willis, the daughter of Hollywood stars Bruce Willis and Demi Moore who will model Badgley Misch-kas brand in the spring 2011 campaign.
Sources told the Chicago Sun-Times that Efron, 23, and Willis, 22, were looking "extremely cozy" together - and considering the two were visiting Parrot Cay with the rest of the Bruce Willis family, it looks like Efron is more than just an acquaintance.
Rumer Willis was recently linked to new Glee cast member Chord Overstreet; they attended a party at Family Guy creator Seth MacFarlane's house in October.
Efron recently ended his nearly four-year relationship to Hudgens, whom he met on the set of the first High School Musical movie.
Reps for both Efron and Willis insist the two are "just friends."
Well, whether friends or lovers, its always heartening to know that these movie stars see something in the Turks and Caicos that continues to lure them here something that perhaps we here in the TCI, may take for granted.
New Year arrival at Cheshire Hall
There was double joy for Charles and Angeline Etherard on New Year's Day.
The Provo couple celebrated the arrival of 2011 with a beautiful bouncing baby boy.
Little Badson Etherard was born at the Cheshire Hall Medical Centre at 5.45pm, weighing in at a healthy 3.311kg.
I thank God, said proud dad, Charles. We have been blessed with a fantastic gift and it is very special that he was born on New Year's Day.
Badson is our second child and we are so happy and proud.
It's amazing that our son is the first baby born in this country this year and its something he will always be proud of.
Charles, who works in retail, was full of praise for the staff at the Cheshire Hall Medical Centre maternity department, who presented the couple with a gift to mark the special occasion.
He added: The nurses and doctors have been wonderful and we would like to thank them so much and wish them all a happy 2011.
They presented us with a baby set on behalf of Interhealth Canada and that was such a kind and appreciated gesture.
Interhealth Canada midwife, Shantal Gardiner, said Badsons arrival was both natural and uncomplicated.
Angeline had a very good pregnancy, she added, and the birth went exactly to plan.
Badson is a beautiful, healthy little boy and both he and mum are doing fine.
New US Congress Convenes
A new U.S. Congress has convened in Washington. Republicans now control the House of Representatives, and Democrats have a reduced majority in the Senate, giving the United States a divided legislature.
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The 112th Congress features scores of new Republicans. Most are still getting settled in their new offices and learning their way around the Capitol.
But the new legislators come infused with the ideological fervor that fueled their successful campaigns. They view last November's election as a national rebuke of President Barack Obama's economic stewardship and a mandate to scale back the size and scope of the federal government.
Kentucky freshman Republican Senator Rand Paul told CBS' Early Show he will not vote to raise the limit on federal borrowing unless spending is drastically cut. "All the new people coming to Washington are going to insist that if we raise the debt ceiling, it has to be linked to something,” he said. “From here on out, we are going to balance the budget."
The Obama administration says failure to raise the debt ceiling would cause the U.S. government to default on its loan obligations and produce a catastrophic financial crisis.
House Republicans say their first act will be to vote to trim their own office payrolls. Next week, a vote to repeal President Obama's health-care reform initiative is expected. New House Budget Committee Chairman Paul Ryan of Wisconsin ties repeal to national prosperity.
"This is related to jobs and the economy,” Ryan said. “The health-care bill has massive tax increases on individuals and employers that will cost us jobs."
Ryan spoke on NBC's Today Show. Most political observers view the repeal effort as a symbolic act, since the Democratically-controlled Senate will not follow suit.
New House Speaker John Boehner of Ohio takes over from California Democrat Nancy Pelosi, who spoke about her party's role going forward.
"We extend a hand of friendship [to Republicans] to create jobs, grow the middle class, and reduce the deficit. We look for common ground to solve the problems of the American people,” Pelosi said. “But where we cannot find common ground, we must stand our ground on behalf of the pledge we take every day: 'with liberty and justice for all.' And that includes economic justice for all."
The new Republican House majority has promised to change the way the chamber operates, with special reverence for the U.S. Constitution. The founding document is to be read aloud in its entirety before the House gets down to business. In the future bill sponsors will have to provide constitutional justification for legislation before it will be considered.
1st ANNUAL MASKANOO EVENT DUBBED A SUCCESS!
Grace Bay road was definitely the centre of attraction during Provo’s busy Christmas season, as thousands of visitors and residents crowded the street to witness a dream turn to reality, when the TCHTA and the Cultural and Arts Commission hosted the much talked about 1st Annual Maskanoo event on Monday, 27th December, 2010.
The event saw many persons gathering before the scheduled kick off time to mingle with vendors who lined the street selling a wide selection of items from famous Bambarra products to hand painted arts and crafts made out of local materials. These local items were indeed a big hit during the evening’s festivities, as persons were able to take tangible pieces of TCI’s culture with them.
Individuals were treated to a cross section of TCI’s local talent highlighting ripsaw music by the Island Boys, TCI’s song bird Barbara Johnson, popular Junkanoo group ‘We Funk” as well as The Somerset and Regent Palms Maskanoo groups who used amazing colours to complement the creative costumes worn throughout the parade. Spectators also joined in the parade with dancing, singing, waving, shouting and other pulsating expressions of excitement. Maskanoo 2010 culminated with a breathtaking display of fireworks visible from Grace Bay beach and the Grace Bay strip.
In addition to the entertainment and other offerings at Maskanoo, individuals had an opportunity to try their luck by participating in the $5000 Maskanoo Raffle, which was drawn later on in the evening. Prizes up for grab included 1st prize $5000, 2nd prize $500 and 3rd Prize $100. The astonished and excited winners included Krystal Malcolm who won 1st prize, Nicholette Thomas walked away with the 2nd prize and Veronica Rigby captured the 3rd prize.
Karen Whitt, President of the Turks and Caicos Hotel and Tourism Association (TCHTA), commenting on the success of Maskanoo 2010 said, “We were thrilled with the huge turnout of our visitors and residents to this first ever Maskanoo event. The participation from the local community, the media and our vendors has been unparallel and we look forward to gaining everyone’s support for Maskanoo 2011. This is a true example of what can unfold as a result of dedication and hard work. We anticipate that 2011’s event will surpass everyone’s expectations as we strive to improve annually.
TCHTA is also very grateful to those individuals and businesses who were committed to making Maskanoo a success!”
David Bowen, Director of the Cultural and Arts Commission stated, “I am still amazed and was very much impressed with the level of support and participation that we were able to attract for Maskanoo. The journey has definitely not been easy and we would have never been able to make the event what it truly was without our Maskanoo groups and participants. For their willingness and efforts, I would like to say a big thank you. We are excited and ready for Maskanoo 2011 and are already putting things into place in order to have a much larger showcase of our Cultural Heritage”.
The Maskanoo Committee would also like to take this opportunity to thank the sponsors and supporters of the event and looks forward to a bigger and better Maskanoo 2011 on Monday, December 26.
Official sponsors for Maskanoo 2010 included:
Radio Turks & Caicos
Royal Jewels
IslandCom
FirstCaribbean International Bank
KBC Productions – 92.5 FM and 102.5 FM
Tropical Imaging
International Banking Group
Sky Juice
Dove’s Security
Bangers & Crash Fireworks
Caribbean Cruisin – TCI Ferry
PPC Ltd
Bournewell Marketing Ltd.
Scotiabank (Turks and Caicos) Limited Establishes a $100,000 (CDN) Scholarship in Partnership with York University.
Scotiabank today announced the establishment of a scholarship program with York University (Toronto), Canada's third largest university. The scholarship, valued at CDN $100,000 is financed by Scotiabank (Turks and Caicos) Limited in partnership with York University and provides funding for one student for four years of study at York University.
"Through this scholarship, Scotiabank is investing in the future leaders of The Turks and Caicos Islands" said Doug Cochrane, Managing Director, Scotiabank (Turks & Caicos) Limited. "The scholarship recipient will have the opportunity to travel abroad and learn from some of the brightest minds before returning to The Turks & Caicos Islands and applying their skills to the continued development of the Islands,"
"This scholarship is emblematic of the leadership example set by Scotiabank (Turks & Caicos) Limited in supporting the communities it serves," said Claude Norfolk, Senior Vice President, Caribbean, International Banking, Scotiabank. "This scholarship will help to foster and develop the minds of bright, young Turks & Caicos citizens."
The scholarship is made possible through the Scotiabank Bright Future philanthropic program. Youth education is a key pillar of the program, which seeks opportunities to support children and the communities in which we live and work.
The scholarship program at York University was created to impact the development of sound academic talent within The Turks & Caicos Islands. One undergraduate scholarship (renewable for three years) will be awarded with proceeds going toward academic and living expenses. As part of the scholarship, the recipient receives an International Merit Scholarship from York University for each year they receive the scholarship funding. Special consideration will be given to students who have participated in the Scotiabank-York University Emerging Global Leaders Program in the Caribbean. The application deadline is March 15, 2011 for a September, 2011 entry to York University. Applicants may apply for the scholarship at http://futurestudents.yorku.ca/.
The York University Student Financial Services Office will manage all aspects of the scholarship, including the selection of the recipient. Applicants must demonstrate excellent academic standing as well as a proven record of community involvement through a minimum of 25 hours of volunteer experience. It is expected that the successful candidate will participate on an annual basis in the paid summer internships program at Scotiabank, and will return to The Turks and Caicos Islands and join Scotiabank (Turks and Caicos) Limited as an employee for at least three years after the successful completion of four years at York University.
Scotiabank has been a part of the Caribbean and Central America since 1889. It is now the leading bank in the region, with operations in 20 countries, including Bahamas, Barbados, Jamaica and Trinidad and Tobago. The Bank has more than 7,000 employees in the region, including affiliates, serving more than two million customers, with 232 branches, kiosks and other offices, plus 615 automated banking machines.
Vivica A. Fox Gets Engagement Ring from Slim
Well, it looks like Vivica A. Fox got what she wanted for Christmas. Yep, Auntie Viv went and got engaged to her 27-year-old boyfriend, Omar ‘Slim’ White (pictured with her) over the holidays.
A source told the NY Post that White proposed to Fox, 46, on Dec. 26 with an 8-karat diamond ring while the two were staying at the Ritz Carlton in South Beach.
Fox and White, who’ve been dating for just over a year, spent New Year’s Eve with Dwyane Wade, Gabrielle Union and Sanaa Lathan at a Chris Bosh bash.
Fox’s rep confirmed the engagement and it mark her second marriage (to a man younger than her).
Kartel Bleaching hits newspaper cartoon
Vybz Kartel and his bleaching issue dominates the damcehall scene for the most part of last year.
The issue grew intense late last year leading up to the holiday season, after the Gaza leader attribute his new skin tone to his extensive use of the Cake Soap.
The saga spilled over into the New Year with the latest Observer Clovis cartoon shows Vybz Kartel asking his girl why she using his bleaching soap to wash his cloth.
