Harrah's Entertainment has pulled out of a six-hotel resort project in the Bahamas due to frustration over the amount of time it was taking to organise.
The company had agreed to join with Baha Mar Resorts and Starwood Hotels and Resort Worldwide in the US$2bn mega-resort on Nassau’s Cable Beach.
“Unfortunately, it has taken longer to organise the project than anticipated and circumstances have changed such that it is simply not prudent to move forward,” Harrah’s said in a statement.
The mixed-use resort, which was planned for a 405-hectare site, was expected to have a work force of 10,000 on its completion in 2011.
