FREEPORT, BAHAMAS – Power has been disconnected at the Grand Lucayan Resort in Freeport after unresolved arrears with the Grand Bahama Power Company (GBPC), according to sources.
The resort’s new owners, Concord Wilshire Capital, reportedly refused to assume the outstanding debt, prompting GBPC to cut electricity to the property.
The 56-acre resort — sold by the government in May 2025 for $120 million as part of an $827 million redevelopment plan — was expected to transform into a luxury mixed-use destination with a cruise port, hotel, casino, and marina.
Deputy Prime Minister Chester Cooper declined comment, directing media inquiries to the Office of the Prime Minister.
The development adds another twist to the long-troubled property’s story, as questions persist about whether the full purchase payment has been made and how funds from the sale have been allocated.
