Kerzner International Limited - Introduction

Introduction

Coral Towers
Paradise Island
Bahamas
Telephone: (242) 363-6000
Fax: (242) 363-5401
Web site: http://www.kerzner.com

Public Company
Incorporated: 1993 as Sun International Hotels Ltd.
Employees: 11,485
Sales: $561.3 million (2003)
Stock Exchanges: New York
Ticker Symbol: KZL
NAIC: 713290 Other Gambling Industries

Based in the Bahamas, Kerzner International Limited is a publicly traded premiere resort operator listed on the New York Stock Exchange and named after its famous founder and chairman, Solomon "Sol" Kerzner—the one-time vilified builder of South Africa's Sun City resort. Although all but one of the company's properties features a casino, Kerzner relies less on gaming income than does his competitors, focusing his attention instead on income derived from rooms and the sale of food and beverages. The company's flagship property is the Atlantis, Paradise Island resort complex in the Bahamas. Taking the legend of Atlantis as its theme, the resort offers 2,300 rooms, 35 restaurants and lounges, a 100,000-square-foot casino entertainment complex, an 88,000-square-foot convention center, and a full-service marina. Kerzner also operates a string of smaller, luxury five-star resorts under the One&Only brand. On Paradise Island, the company operates the Ocean Club, which has been catering to Hollywood celebrities and royalty since the 1940s. In addition, the One&Only label has been applied to resorts located in the Maldives, Mexico, Dubai, and Mauritius. Kerzner also has attempted to crack the U.S. market, resulting in setbacks in Atlantic City and Las Vegas. The one success is the company's 50 percent interest in the Mohegan Sun, a Connecticut tribal gaming resort. Howard Kerzner, the founder's son, now serves as the company's chief executive officer.