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Buddy’s Hotel on verge of opening gambling casino

May 11, 2009 News

Guyana will have its first casino soon.
This is according to the management of Buddies International Hotel, now Buddy’s Princess International Hotel, the Princess Group of Companies.
Operations Manager, Oguz Tayanc, told this newspaper that the government has already granted management the casino licence and construction of the gambling facilities has commenced.
According to him, this should be completed in two to four months.
“We are working on making Guyana a tourist destination. We doing some renovations on the hotel and hopefully we will be bringing tourists to Guyana,” Tayanc stated.
In addition to the casino, Tayanc said that management plans to include entertainment centres in the Buddy’s Princess Hotel premises and construction for this facility will commence in six months.
The Princess Group of Companies is an international company with hotels all around the world.
Tayanc, who is in charge of operations for the Caribbean and South America, said the company has hotels in twelve different countries and 11 of their hotels hold five-star ratings.
In May, Chief Executive Officer of the Princess Group of Companies, Sudi Özkan, was reported as saying that he had bought Buddy’s International Hotel for the sum of US$15 million and planned to invest US$10 million to upgrade it to a five-star hotel.
According to reports, the hotel currently holds a two-star rating.
The hotel was reportedly built at a cost of US$13 million with several mortgages and a loan from the Guyana government, part of which has been repaid in cash with an outstanding balance which was to have been wiped clean through room nights granted to the government.

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