NASSAU, Bahamas (AP) - A Malaysian conglomerate will take over operations at a luxury resort on Bimini and invest US$100 million (S$124 million) in air and sea transportation to the tiny island.
In a Monday speech to lawmakers, Bahamas Prime Minister Perry Christie announced that Genting Group will operate the Bimini Bay Resort and invest in a high-speed ship and aircraft to transport guests. Mr Christie says Genting is also developing a master plan for the island.
Last year, the Malaysian developer announced that it planned to open a 100,000-square-foot casino on Bimini. It is expected to open in July.
Mr Christie says Bimini's roughly 2,000 residents will soon see a dramatic improvement in the local economy.
Bimini is among the smallest islands of the Bahamas and is already home to a luxury yacht, fishing and second-home market.