PHILIPSBURG--Rumours of pending negotiations on the transfer of Mullet Bay Resort and Casino were confirmed to this newspaper by reliable sources on Tuesday.
A large and financially strong European (French) group was said to be showing serious interest in redeveloping the resort into a prime destination.
A substantial offer was said to be in the process of being made to both SunResorts and the association of Mullet Bay homeowners.
Representatives of the three parties were reported to be currently on the island. With a view to the delicate nature of the expected negotiations, our sources declined to provide further details.
Mullet Bay Resort and Casino was heavily damaged in 1995 when Hurricane Luis hit the island. Disagreement between SunResorts, the major owner of the property, and the homeowners about insurance matters and ideas about rebuilding the resort led to court proceedings both in New York and in the Netherlands Antilles. A three-times-extended moratorium on payments granted SunResorts by the Antillean court has hitherto not led to a breakthrough.
The continued closure of the resort has seriously damaged the island's reputation as a prime tourism destination.
Give us your opinion on this story ![[new]](/images/new.gif)
Post a message on our message board! Click Here!
