Kerzner International added grim new warnings last week about terrorism to its risk assessment of a $1 billion Atlantis resort it is planning in the United Arab Emirates. As recently as August, the Bahamas-based company had only included a broad mention of terrorism in its discussion of potential risks to investors.
But last week Kerzner added a detailed note on potential instability in the Middle East and the Dubai emirate, where it is the government’s partner in the new resort. The UAE’s support of the American war on terrorism, Kerzner wrote, “may increase the likelihood of attacks on the state by terrorist organizations.”
A Kerzner executive described the new language as the result of the company regularly updating its risk disclosures, as required under federal securities law. No new development prompted the change, he said.
Douglas Hanks III, The Miami Herald
