Only July 6, the long awaited Trump Ocean Club Casino Hotel in Panama City, Panama will finally open its doors. The 70 story tall casino complex includes a luxury hotel, a casino licensed under Panamanian gambling laws, condominium units as well as luxury shops, private beach, golf, office space and lots more.
The construction is in the final stretch now, so a substantial portion of the condominium owners will be allowed to move in on July 6. The project developer, Roger Khafif of Newland Properties, confirmed that everything is going according to plan.
The newest Panamanian casino is expected to open its doors to gamblers sometime later this year. There are strong unconfirmed rumors that Donald Trump will be announcing the opening of his first online casino in Panama along with the new Trump Ocean Club Casino Hotel.
The Panamanian casino/hotel will be the tallest building in Latin America. The building’s design resembles a fast sloop running at full sails. The architectural form strongly resembles a building in Dubai which also looks like a sailing vessel.
The casino was designed by the Columbian architectural firm of Arias Serna Saravia. The height, along with its distinct look, is sure to make Trump Ocean Club the most recognizable modern structure in Latin America.
Donald Trump and partners invested 220 million on the project, disclosed Mr. Trump’s charming daughter Ivanka. So far, the casino has 95% occupancy for the first year of operations. The hotel will have 369 rooms and suites and will also include a luxury spa, gourmet restaurants, a private beach club, and two floors of exclusive boutiques and shops.
Mr. Khafif, the CEO of the developer, proudly announced that the Trump Ocean Club Panama is already profitable with the 12-story office attachment completely sold out as well as 34 commercial spaces for boutique shops. There are still 140 condos left unsold within the building.
The casino’s grand opening will be taking place later this year. According to online gambling news in Panama, there are still heated negotiations between multiple parties interested in managing Trump’s Panamanian casino.
“Negotiating with the casino management company continue to advance. We have the letter of intent signed by the group that would operate Trump Ocean Club Casino. What’s holding things up is a recent unsolicited offer we received from a well-known casino operator and we are considering this new offer very seriously. We expect a final decision next week, “said Khafif, without revealing any additional information about this mysterious company.
Donald Trump is very bullish on casino ventures in Latin America and is considering further expansion in Colombia, Brazil and Chile.