National

Questions Swirl As New Owners Are Expected To Take Over By August

NASSAU, BAHAMAS – The $827 million sale of the Grand Lucayan Resort is moving forward, with new ownership set to take over on August 15, 2025, despite public concerns about delays.

Published

8 months ago

July 25, 2025

Italia Hall

NASSAU, BAHAMAS – A major development moment for Grand Bahama, back on May 16th, brought celebration, optimism, and a vision for a brighter future.

That’s when the government signed a Heads Of Agreement with U.S.-based developer Concord Wilshire to purchase and redevelop the Grand Lucayan Resort.

The $827 million project is being hailed as a potential game changer for the island.

Prime Minister Philip Davis, speaking at the signing, said the development would create 1,300 construction jobs and more than 1,700 permanent jobs for Grand Bahama.

Developers also painted a bold and exciting vision, plans for a full-scale cruise resort, a revamped 25,000-square-foot casino, a Greg Norman-designed golf course, overwater cabanas, beach clubs, family attractions, water parks, retail outlets, music venues, restaurants, and even a 16-slip mega-yacht marina.

But fast-forward nearly three months later, and some residents have raised concerns that the project appears to be in a holding pattern, prompting questions about what’s happening behind the scenes.

Well, a letter recently sent to travel partners, and obtained by Our News, confirmed that the sale is indeed moving forward.

In that letter, hotel management stated:
“We hereby advise that the hotel has been sold and the new owner will take over on August 15th, 2025.”
The letter also noted that bookings beyond July 31st, 2025, will not be accommodated, and recommended other local resorts for guests needing accommodations, acknowledging the potential disruption to travel plans.

So, where do things stand now?

We caught up with the Minister For Grand Bahama, Ginger Moxey, during Thursday evening’s 2025 Goombay Summer Festival. Here’s what she had to say:

Ginger Moxey – Minister For Grand Bahama
“It’s progressing. Of course, there was a sale, so we’re just looking forward to what’s next. I believe the prime minister spoke to it recently. I’m just excited that finally there is some movement on the hotel, and Grand Bahama is moving in the right direction.”