Grand Banks and Palm Beach Motor Yachts Proudly Announce the Completion of the Acquisition of Casey’s Marina in Newport, Rhode Island

To be renamed Grand Banks and Palm Beach Motor Yachts Marina, this landmark waterfront destination will set a new standard for owner experiences and premium service in America’s sailing capital.

NEWPORT, R.I. – June 16, 2025 – Grand Banks and Palm Beach Motor Yachts have finalized the acquisition of Casey’s Marina at Spring Wharf in the heart of Newport, Rhode Island Harbor—the nation’s storied sailing capital and former America’s Cup venue. The purchase, which also includes the adjacent 10,000-square-foot Waites Wharf, builds on the brands’ seasonal presence established in 2018 and signals a long-term commitment to delivering world-class service and an elevated owner experience.

Following the recent expansion of its state-of-the-art manufacturing facility to accommodate the construction of both newly launched and upcoming models, the company is now the only yacht builder to own and operate a brand-specific marina today in the main harbor of Newport, Rhode Island, further elevating the ownership experience.

Reimagined as the Grand Banks and Palm Beach Motor Yachts Marina, the property will offer reserved berths, haul-out capabilities, a private lounge with boutique guest amenities, and on-site service capabilities delivered with the same craftsmanship and attention to detail that defines every Grand Banks and Palm Beach Motor Yacht.

“I’m excited about this strategic acquisition, which will further enhance our owner experience and service capabilities in the Northeast. This will be a home for our owners in this iconic harbor where sailing heritage runs so deep, it’s a thrilling next chapter. Newport has been a defining part of my sailing and boat building career for almost forty years,” said Mark Richards, CEO and Chief Designer of Grand Banks and Palm Beach Motor Yachts. “My ocean-racing experience has shaped this company's direction, bringing true innovation and technology to a classic form. This isn’t just a marina, it’s a place that brings our vision to life.”

“This marina has been part of Newport’s waterfront for generations, and it means a lot to see it in the hands of a team that truly understands and respects its legacy,” said Bill Casey, former owner of Casey’s Marina. “Grand Banks and Palm Beach Motor Yachts have been part of this dock for years, and I’m proud to see them take it to the next level for the community and their owners.”

With nearly a century of combined boatbuilding heritage and a legacy steeped in ocean-racing performance and long-range cruising, Grand Banks and Palm Beach Motor Yachts will reveal the full marina vision, along with additional exciting announcements, at the Newport International Boat Show this September.

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WHAT OWNERS SAY ABOUT GRAND BANKS YACHTS

“We love our overnight trips. Recently we came down from Yamba to Sydney, about 300 nautical miles and, although we sat on 24 knots the whole way, we were only burning 100 litres (26 gallons) of fuel an hour!!! The EB44 is the best thing we’ve done for the family… we call it the ‘family wagon’”

MATT SPENCER, EASTBAY 44 OWNER

“This is my 4th Grand Banks and I’ve always liked them – they’re sea-kindly, fast and fuel efficient. But the stuff Mark Richards has done has made them even better. He’s raised the game and they’re now next generation in terms of design. My wife and I love cruising on it – each August we live onboard for 30-40 days. She feels very safe as it has a really nice ride. And we love the style and the lines.”

TOM WHIDDEN, GRAND BANKS 60 OWNER AND 8 TIMES AMERICA’S CUP PRO SAILOR.

“I was in Mexico when COVID hit and had to get home. I had an 1,100nm trip, uphill (upwind & up current) and, let me tell you, the boat did better than I did! I had to keep going day and night. Almost no boat of this size can go from Puerto Vallarta to San Diego non-stop. And thanks to the hull shape and lightweight carbon superstructure, it’s amazingly efficient.”

GARY WEISMAN, GRAND BANKS 60 OWNER

“The range of the boat had huge appeal. Because of the V-Warp® Technology hull that slips so easily through the water, the weight reduction of the carbon fibre and the new Volvo engines, we could simply go further with less stops. Of course, it saves money but the real plus is the convenience. At 10 knots I can travel for over 2000 nautical miles without refuelling. As a sailor, I don’t like to stop once I get going!”

JOHN BACON, GRAND BANKS 60 OWNER