Vici Properties Eyes $382M Investment in Atlantis Bahamas Resort
Vici Properties, the world's largest casino landlord, is reportedly exploring a $382 million investment in Atlantis Paradise Island resort in The Bahamas, according to the Central Bank of The Bahamas' recent quarterly report.
Atlantis resort aerial view Bahamas
The potential investment would be in partnership with current owner Brookfield Asset Management, who acquired the resort through a debt restructuring in 2012. The project received approval from Bahamian authorities on September 10, 2024.
This development could potentially revive the previously announced "Somewhere Else" project, a planned 400-room hotel collaboration between Atlantis, hospitality entrepreneur David Grutman, and music producer Pharrell Williams that was initially proposed in 2022.
Key Points About the Potential Deal:
- Investment value: $382 million - Current owner: Brookfield Asset Management - Previous sale attempts: Property was listed for ~$2.5 billion in 2019 and 2023 - Vici's current portfolio: 93 casino and gaming properties across US and Canada - Market capitalization: Nearly $33 billion
The investment aligns with existing partnerships, as Atlantis already maintains a relationship with Caesars Entertainment through its rewards program. Diamond-level Caesars Rewards members receive complimentary stays at the resort, and the property hosts the World Series of Poker Paradise tournament.
Both Vici Properties and Brookfield Asset Management have declined to comment on the potential investment, which would mark Vici's first major expansion into the Caribbean gaming market.