business@tribunemedia.net
Thursday, February 19, 2026
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Casino developer’s ‘win-win’ Governor’s Harbour pledge BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A US gaming developer yesterday pledged his proposed Governor’s Harbour project, featuring plans for a mega yacht marina and “boutique” casino, will be a “win-win development” for central Eleuthera and involve the local community at every stage. Jeff Jacobs, principal of Jacobs Entertainment, told Tribune Business in a messaged response to this newspaper’s inquiries that he has no intention of imposing his development vision on Eleuthera residents and will “listen carefully” to their views and concerns to ensure any investment is environmentally and financially sustainable. Asserting that a “tourist-oriented development in central Eleuthera can serve as a rising tide to lift all boats”, he added that its scale and form were “decisions” for the local community and Bahamian government to make. However, Tribune Business can reveal that his plans have already sparked alarm among many residents as well as environmental activists, who fear Mr Jacobs’ proposal - especially for a casino, regardless of its size - is simply too large for the Governor’s Harbour area while also being out of “tone” with the community’s history and character (see other article on Page 1B). They are also concerned that Eleuthera’s
Jacobs Entertainment chief affirms mega yacht, ‘boutique’ gaming plan infrastructure, especially its already-challenged electricity and water utilities, will simply be unable to cope with the additional demands exerted by such a development, while its scale will also exert undue pressure on the environment and require potentially hundreds of workers to be imported from Nassau and/ or overseas because the island’s own workforce is unable to meet the labour requirements. Mr Jacobs told this newspaper that his current thinking includes developing four to five “lock and leave” neighbourhoods, which some observers yesterday interpreted as a reference to gated communities; plus a small resort with several restaurants, a mega yacht marina, small boutique hotel and “affordable workforce housing”. No estimates were
DEVELOP - See Page B8
Gov’ts Bazaar move driven by 20-year ‘vesting’ woes BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A CABINET minister yesterday said the Government has little choice but to acquire Freeport’s International Bazaar by compulsory acquisition because it would otherwise have to wait 20 years for ownership to be “fully vested” in it. Ginger Moxey, minister for Grand Bahama, said outside the House of Assembly that the Davis administration had decided to act - despite having negotiated a $2.8m purchase of the now-derelict property with the majority of its 13 owners - because the company that owns the Bazaar
GINGER MOXEY and its real estate had been struck off the Companies Registry. She pointed out that, under reforms to the Companies Act’s section 273 that were implemented in 2019, any property or other
ACQUIRE - See Page B10
Planning Institute Bill put beyond February BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE NATIONAL Development Planning Institute Bill is unlikely to meet its original end-of-February completion deadline as officials work to strengthen the legislation following public consultation. Felix Stubbs, chairman of the National Development Plan steering committee, said feedback from recent consultations made it clear that additional work is needed to strengthen the
Bill thus making it unlikely the legislation will meet the deadline for completion and tabling in the House of Assembly. He added that there was a general consensus that aspects of the draft were “a little bit weaker” and required refinement, adding the committee will spend the next two weeks revising the legislation, with hopes of meeting an end-of-March target. Despite the revised timeline, Mr Stubbs said he remains confident the Bill will be tabled in
DELAY - See Page B9
But promises that Eleuthera residents will make necessary ‘decision’
Gov’t ‘quite supportive’ as tourism labelled ‘rising tide to lift all boats’
Governor’s Harbour plan is model ‘that’s never worked’
lives on Eleuthera, told Tribune Business that the initial “ideas” proposed by Jeff Jacobs, a casino and hospitality developer whose company owns numerous gaming facilities in the US, raises multiple concerns for residents and the Governor’s Harbour community due to the extra pressure it would likely impose on the island’s already-strained utilities infrastructure, environment and workforce. Speaking after Mr Jacobs confirmed to this newspaper that the Government was “quite supportive” of his thoughts, which also include the development of “four to five ‘lock to leave’ communities; a “small hotel” with numerous restaurants; affordable worker housing; pedestrian trails and improved public beach access, Mr Carey argued that successive administrations have been overly-eager to embrace such mega resorttype projects in the Family Islands.
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net AN ex-Bahamas National Trust (BNT) executive director yesterday argued that a seemingly large-scale investment project targeted at Eleuthera’s Governor’s Harbour, and featuring proposed mega yacht and “boutique” casino facilities, is employing a development model that has “never worked in the Family Islands”. Eric Carey, an environmental advocate who now ERIC CAREY
IDEA - See Page B9
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GRAND LUCAYAN RESORT
Grand Lucayan’s terminations target endFebruary close Up to 279 staff set to receive severance Protracted late pay sage drawing to end Resort sale near close with Disney, MSC BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Government plans to complete the termination of all 279 Grand Lucayan staff by February 27, 2026, it has been revealed, as efforts to complete the resort’s $120m sale to Concord Wilshire head into what is likely to be the final stages. Julian Russell, chairman of Lucayan Renewal Holdings, the Government-owned special purpose vehicle (SPV) that holds the Grand Bahama-based resort, informed Obie Ferguson KC, the Trades Union Congress (TUC) president, of the intent to pay all workers their due severance pay, other benefits and entitlements under their relevant industrial agreements by month’s end. The letter, addressed to Mr Ferguson in his capacity as head of the Bahamas Hotel Managerial Association (BHMA), which represents 94 Grand Lucayan middle managers, was dated February 13, 2026. “As you are aware, the Government of The Bahamas has entered into an agreement to sell the Grand Lucayan Resort to Concord Wilshire Group and, as such, we write to inform you of the pending redundancy of all employees, including members of the Bahamas Hotel Managerial Association,” Mr Russell said.
PAYOUT - See Page B10