At least two serious bidders are vying to take over the stalled $3.5b Baha Mar integrated resort casino in the Bahamas.

Last week, Bahamian Prime Minister Perry Christie told legislators that the bankrupt Baha Mar’s receivers had shortlisted two groups as “preferred bidders” for the project. Christie said Sarkis Izmirlian, the project’s original backer before China Export-Import Bank (EXIM) foreclosed on the property, was not involved with either bid.

One of these bidders has a “Bahamian investor connection” but Christie refused to divulge further details. (Sun International founder Sol Kerzner, who has a Bahamian connection, was previously rumored to be interested in taking over Baha Mar.)

Christie said the Bahamian government was not involved in the negotiations currently taking place in China, which is also home to the property’s principal contractor, China Construction America (CCA).