Community Forum

*Arubalisa* · 05-11-2010, 09:21 AM

Icahn Group also investing in Cabana casino
10 Mei, 2010, 08:10 (GMT -04:00)
http://www.amigoe.com/artman/publish/artikel_72290.php

ORANJESTAD — The remains of the Royal Cabana Casino. Icahn Group, the new owner of the casino and The Aruban Resort wants to the casino re-open within one year.

Icahn Group, the new owner of The Aruban Resort will also re-open the former Royal Cabana Casino – the run down shell at the Sasakiweg for nearly two years.

The Gillman Group had started these restoration activities in 2007, but had never completed them. These American investors had had great plans to restore the casino to its ‘former glory’. At the time, they said they wanted to invest 70 million dollars in Royal Cabana Casino. However, this was never realized. Icahn Group has now promised to start with the restoration within a period of one to three months. Casino-manager Tropicana Entertainment, of which Icahn Group is major shareholder, seems to be the most important candidate to manage the casino for the time being. Scott Butera, director of Tropicana, had been on Aruba last week with Vincent Intrieri, senior managing director of Icahn Group and his advisor. However, according to Intrieri, other possible operators are still an option. A delegation of the Icahn Group will return to Aruba this week with the exact calculations to resume the building’s reconstruction.

After The Aruban Resort had been auctioned for 35 million florins last week, it is now definite that the hotel will remain open. According to the Minster of Tourism, Labor and Transportation, Otmar Oduber (AVP) during a collective press conference last Friday with the new owners, the casino will be open again at the end of June. Icahn Group will be looking for a new hotel operator. The casino will re-open in the building where Key Largo Casino had been located until recently. During the press conference, one announced that the dismissed employees of Key Largo would be the first candidates to resume work there.

The timeshare holders of The Aruban Resort seem to be pleased with the take-over. Icahn Partners had purchased the resort for 35 million florins during an auction last Thursday. John Cole, Chairman of the board of owners stated before this newspaper to have held ‘positive conversations’ with representatives of the Icahn Group. Cole said he was confident Icahn would make considerable investments in the hotel and its casino. However, that did not dissuade the cooperative association of timeshare holders from an attempt to secure the 15,000 free timeshare weeks via summary proceedings, which had been held last week Wednesday. For that matter, the judge had rejected the request from the timeshare owners.

DANNYO · 05-11-2010, 10:29 PM

Something positive at last for The Aruban Resort.

Chip Collector · 05-13-2010, 03:28 PM

Quote:

Originally Posted by Arubalisa

casino will re-open in the building where Key Largo Casino had been located until recently.

I assume that is a temporary measure while they rebuild the building where the Royal Cabana was located, or is their intention only to reopen the Key Largo? Anyone have any idea?

*Arubalisa* · 05-13-2010, 04:16 PM

The article below references finishing the "shell" of the old Royal Cabana Casino.

Quote:

Originally Posted by Arubalisa

Icahn Group also investing in Cabana casino
10 Mei, 2010, 08:10 (GMT -04:00)
http://www.amigoe.com/artman/publish/artikel_72290.php

It also addressed the status of the Key Largo Casino.

Quote:

the casino will be open again at the end of June. .... The casino will re-open in the building where Key Largo Casino had been located until recently. During the press conference, one announced that the dismissed employees of Key Largo would be the first candidates to resume work there.

Chip Collector · 05-13-2010, 08:33 PM

Sorry, Lisa, the article still has me confused. Are they saying that they will initially open in the Key Largo space, then move into the renovated Royal Cabana space, or are they saying that both will open, or are they saying something else?

*Andrea J.* · 05-13-2010, 08:49 PM

Chip
My understanding and i get my information from the ARUBAN FORUM and its members as well as the article that lisa posted.
They will begin work within the next few months on renovating and constructing the hulking monstrosity of the former ROYAL CASINO.
In the interim, the Key Largo casino will reopen. Once the LARGE casino opens the Key Largo will be closed.
The former Key Largo employees will be offered positions in the newly reopened KeyLargo casino.

The LaCabana is also planning to put in a small casino in their interior atrium area/where the captains table once was.

Chip Collector · 05-13-2010, 10:12 PM

Thanks, Andrea. That is clear. It will be nice to have the Royal Cabana up and running again, in some form Glad to hear the Key Largo employees will have a job again, too.

Bill · 05-14-2010, 02:58 PM

Key Largo is scheduled to open in July,

05-11-2010, 09:21 AM	#1 (permalink)
Arubalisa Moderator Join Date: May 2007 Location: Boca Catalina Posts: 10,685 Images: 174	Icahn Group also investing in Royal Cabana casino Icahn Group also investing in Cabana casino 10 Mei, 2010, 08:10 (GMT -04:00) http://www.amigoe.com/artman/publish/artikel_72290.php ORANJESTAD — The remains of the Royal Cabana Casino. Icahn Group, the new owner of the casino and The Aruban Resort wants to the casino re-open within one year. Icahn Group, the new owner of The Aruban Resort will also re-open the former Royal Cabana Casino – the run down shell at the Sasakiweg for nearly two years. The Gillman Group had started these restoration activities in 2007, but had never completed them. These American investors had had great plans to restore the casino to its ‘former glory’. At the time, they said they wanted to invest 70 million dollars in Royal Cabana Casino. However, this was never realized. Icahn Group has now promised to start with the restoration within a period of one to three months. Casino-manager Tropicana Entertainment, of which Icahn Group is major shareholder, seems to be the most important candidate to manage the casino for the time being. Scott Butera, director of Tropicana, had been on Aruba last week with Vincent Intrieri, senior managing director of Icahn Group and his advisor. However, according to Intrieri, other possible operators are still an option. A delegation of the Icahn Group will return to Aruba this week with the exact calculations to resume the building’s reconstruction. After The Aruban Resort had been auctioned for 35 million florins last week, it is now definite that the hotel will remain open. According to the Minster of Tourism, Labor and Transportation, Otmar Oduber (AVP) during a collective press conference last Friday with the new owners, the casino will be open again at the end of June. Icahn Group will be looking for a new hotel operator. The casino will re-open in the building where Key Largo Casino had been located until recently. During the press conference, one announced that the dismissed employees of Key Largo would be the first candidates to resume work there. The timeshare holders of The Aruban Resort seem to be pleased with the take-over. Icahn Partners had purchased the resort for 35 million florins during an auction last Thursday. John Cole, Chairman of the board of owners stated before this newspaper to have held ‘positive conversations’ with representatives of the Icahn Group. Cole said he was confident Icahn would make considerable investments in the hotel and its casino. However, that did not dissuade the cooperative association of timeshare holders from an attempt to secure the 15,000 free timeshare weeks via summary proceedings, which had been held last week Wednesday. For that matter, the judge had rejected the request from the timeshare owners. Attached Thumbnails Share Share this post on Digg Del.icio.us Technorati Twitter Share Post on Facebook __________________ Aruba Bound! ~ Blogging to Aruba ~ Hoosier Kitties ~ Our-Cruises ~ Pictures of Aruba

ADVERTISMENT

05-11-2010, 10:29 PM	#2 (permalink)
DANNYO Senior Member Join Date: May 2007 Location: Marriott Surf Club Posts: 1,580 Images: 1	Something positive at last for The Aruban Resort. Share Share this post on Digg Del.icio.us Technorati Twitter Share Post on Facebook __________________

05-13-2010, 08:33 PM	#5 (permalink)
Chip Collector Senior Member Join Date: Aug 2007 Posts: 161	Sorry, Lisa, the article still has me confused. Are they saying that they will initially open in the Key Largo space, then move into the renovated Royal Cabana space, or are they saying that both will open, or are they saying something else? Share Share this post on Digg Del.icio.us Technorati Twitter Share Post on Facebook

05-13-2010, 08:49 PM	#6 (permalink)
Andrea J. Aruba since 1979 Moderator Join Date: May 2007 Location: renaissance island, eagle beach, amsterdam manor/passions beach bar, Hung Paradis, alto vista chapel, madam janettes, big porch at B55 Posts: 13,258 Images: 80	Chip My understanding and i get my information from the ARUBAN FORUM and its members as well as the article that lisa posted. They will begin work within the next few months on renovating and constructing the hulking monstrosity of the former ROYAL CASINO. In the interim, the Key Largo casino will reopen. Once the LARGE casino opens the Key Largo will be closed. The former Key Largo employees will be offered positions in the newly reopened KeyLargo casino. The LaCabana is also planning to put in a small casino in their interior atrium area/where the captains table once was. Share Share this post on Digg Del.icio.us Technorati Twitter Share Post on Facebook __________________ Please, I'll have a Grande' decaf Mocha Latte' with a shot of liquid tranquilizer.

05-13-2010, 10:12 PM	#7 (permalink)
Chip Collector Senior Member Join Date: Aug 2007 Posts: 161	Thanks, Andrea. That is clear. It will be nice to have the Royal Cabana up and running again, in some form Glad to hear the Key Largo employees will have a job again, too. Share Share this post on Digg Del.icio.us Technorati Twitter Share Post on Facebook

05-14-2010, 02:58 PM	#8 (permalink)
Bill Senior Member Join Date: Aug 2007 Location: Any beach, party, bar or Casino!!!!!! Posts: 1,030 Images: 3	Key Largo is scheduled to open in July, Share Share this post on Digg Del.icio.us Technorati Twitter Share Post on Facebook __________________ BW