The Atlantis resort casino on Paradise Island is spending up to $130m over the next couple years to ensure the property keeps pace with the new kid on the Bahamas block.

The Atlantis opened its doors nearly 20 years ago and while the resort remains a popular destination, including hosting an annual PokerStars tournament event, its status as the Caribbean’s go-to gaming venue is under threat from the new $4.2b Baha Mar resort.

This week, Atlantis president/managing director Howard Karawan told Tribune Business that owner Brookfield Asset Management would likely spend “north of $80m” this year to gussy up the property, and Karawan says he foresees the company spending “another $50m or so” in 2018 “to keep the product fresh and updated.”

Karawan told the Bahama Journal that “absolutely we can coexist” with Baha Mar, particularly if the new resort “follows in our footsteps and opens new facilities that can grow the market and we not steal from each other.”