When I was visiting Mark Stevenson, the managing director at the Trump tower in Panama City, he was huddling with some guys who appeared to be big boys from out of town.  Now I know who the guys were.   And BTW, those condo units that I have for sale where you can get a 7% return look pretty good now.  I just hope that the owner does not raise the price!!

South Africa’s Sun International has reached an agreement with Newland International Properties for the acquisition of the casino component of the hotel development in Panama.

Under the terms of the agreement, Sun International will get the casino component of the project, the Penthouse (to use as a private salon), a group of building apartments and the rights that the building has to apply for a casino license, all for a value of $45.5 million.

Following the processing of the transaction, and for a period of nine months, Sun International will invest an estimated $60 million in developing the facilities and related casino.

The group plans to install 600 slot machines and 32 gaming tables in a 5,800 square meters area.

Source: Iol.co.za