Russ DeLeon, a prominent figure in the betting industry, has recently acquired 100% ownership of a five-star luxury hotel currently under construction in Grenivík, Iceland. Despite the change in ownership, local officials, including the mayor of Grýtubakkahrepp, see no significant alteration in the project's trajectory, as DeLeon had previously been involved. The mayor expressed that development is progressing well, and he anticipates brighter days ahead for the ongoing construction.

In an interview, Mayor Þröstur Friðfinnsson shared that he has never met DeLeon personally but is aware of his past involvement with the project. He emphasized that the investment fund is still managing the hotel, and the municipality is simply leasing land for its construction. This sentiment reflects a sense of stability and optimism regarding future developments, underscoring local confidence in the project's completion despite the ownership transition.

The acquisition highlights the increasing investment interest in Iceland's luxury hospitality sector, particularly in picturesque locations like Grenivík. As tourism continues to thrive, projects like this hotel could play a significant role in enhancing the local economy and attracting visitors, which may lead to further investments in the region's infrastructure and services.