Mr. Chips In America
Kerzner’s journey to America has been a decadelong odyssey. The owner of splashy resorts in France and the Bahamas, he tried to crack the U.S. market in 1983, only to get chased out by a hail of anti-apartheid protests. But in the last few years Kerzner’s Sun International Hotels has, like many other South African companies since the end of white rule, roared onto the global investment scene. In late August, Kerzner announced he was buying Merv Griffin’s much-troubled Resorts Casino Hotel for some $350 million in debt and equity–and will spend hundreds of millions more on a brand-new complex....