The website of a Cayman company has
an advertisement seeking partners for a hotel/condominium development would
have a casino as part of its plans.
The advertisement is placed under
the subsection “Opportunities” on the website of a company called Cayman
Investment Group, whose managing director is Port Authority Chairman Stefan
Under the heading “Hotel/Condo
& Casino” the advertisement states a developer is seeking partners for suitable
investors in creating a hotel/condo development on a proposed site that has
1,200 feet of water front. The development
would include a par-71 golf course designed by Roy Case and a marina facility.
term growth objectives of the project would include Cayman’s first casino
license,” the advertisement states.
details of the proposed development are unknown.
for comment, Mr. Baraud said the Cayman Investment Group website had been
online since 2006.
particular piece has been up there since 2007, so I’m not sure why this is an
issue now,” he said.
is not currently legal in the Cayman Islands. The idea of a national lottery
has been discussed recently as a way of increasing government revenues. However, as recently as Monday Premier
McKeeva Bush said the establishment of a national lottery would have to be
approved by a referendum. Mr. Bush has
not publicly discussed a possibility of a casino.
Cayman Investment Group website also list several other investment
opportunities including a six-storey development, a cruise ship home port, and a
medical spa that would provide non-invasive cosmetic
procedures to “discerning visitors on vacation” and affluent residents.
“One of Cayman’s premier luxury
brand hotels and day spa have expressed an interest and are ready to promote
the service within their property,” the advertisement states.