NASSAU, Bahamas — The $65m Grand Lucayan deal “is not a cataclysmic event” for the Government’s finances, a Cabinet minister argued yesterday, insisting: “We think we’ve hit a home run.”
Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that the purchase price paled into insignificance when compared to the $2.636 billion recurrent spending budgeted by the Minnis administration for the 2018-2019 fiscal year, The Tribune reported August 28.
Defending the Government’s hotel acquisition from critics he described as “armchair quarterbacks”, Mr D’Aguilar said it was only paying $30m of the purchase price this fiscal year – a sum that was just $5m greater than what it had originally allocated to support the failed Wynn Group purchase. http://www.tribune242.com/news/2018/aug/29/lucayan-well-hit-home-run/
