Kerzner

The charges of corruption, that the ANC is using its powers, not to charge people such as Kerzner, are very serious charges.

RULING OF THE DISCIPLINARY COMMITTEE - HOLOMISA 1996

The charges of corruption, that the ANC is using its powers, not to charge people such as Kerzner, are very serious charges.

ANC Daily News Briefing 1996

Another influence on the decision of Kerzner's owners was looming competition for the resort the likes of which Atlantis had never encountered.

Resort Operator Kerzner Becomes Smaller Kris Hudson 2011

The Bahamian Atlantis posted occupancy of 62% and cash flow of nearly $135 million in 2010, down from 70% occupancy and $167 million in cash flow in 2008, according to Morningstar Co. Elsewhere, Kerzner lost its bids to build casino resorts in Singapore and the U.K.

Resort Operator Kerzner Becomes Smaller Kris Hudson 2011

Mr. Kerzner cashed out some of his shares and rolled over the rest into the newly private company, people familiar with the deal say.

Resort Operator Kerzner Becomes Smaller Kris Hudson 2011

Facing debt payments, Kerzner has been attempting to sell its 50% interest in the resort.

Resort Operator Kerzner Becomes Smaller Kris Hudson 2011

Associated Press Sol Kerzner in 2009 But the recession caused the worst downturn for hotels in decades, leaving many properties unable to support hefty debt incurred in their boom-time buyouts.

Resort Operator Kerzner Becomes Smaller Kris Hudson 2011

Ultimately, Kerzner will be left with stakes in six smaller luxury resorts under its One & Only brand and contracts to manage the Atlantis in the Bahamas and other properties.

Resort Operator Kerzner Becomes Smaller Kris Hudson 2011

Kerzner tried for months prior to the mortgage's Sept. 9 due date to restructure the debt with Brookfield, which held a critical junior piece of the loan.

Resort Operator Kerzner Becomes Smaller Kris Hudson 2011

Kerzner was backed into a corner partly because, under the terms of the debt, if the company had sought to force a compromise with its lenders by putting the resort into bankruptcy, then the owners would have become liable for penalties and other costs of up to roughly $500 million.

Resort Operator Kerzner Becomes Smaller Kris Hudson 2011