Thursday, September 29, 2011
The Isle of Man Department of Economic Development is seeking expressions of interest from the private sector on partnering with the government to establish a five-star hotel and casino complex on the island, to attract visitors and boost tax revenues.
The government believes that in granting a second casino licence, an opportunity will be created to diversify the island's visitor offering and to increase visitor numbers to the island and the on-island spend per visitor.
“Additionally, the development of a resort hotel and casino complex, which will be the second casino built on the Island, will fulfil the government’s objective to further diversify the island’s overall economy and create employment in the construction and leisure sectors," the department stated. "It is envisaged that a five-star resort hotel and casino, encapsulating a modern design, will complement [the island's] existing facilities, enhance the standing of the island and will provide residents, tourists and business travellers with additional leisure facilities such as a spa and conference services.”
“A high quality hotel and casino complex incorporating conference and leisure facilities presents a rare opportunity to build and operate a casino resort hotel in an English-speaking part of Europe and provides an exciting opportunity for both the Island and for those involved in financing, developing and operating casino, hotel leisure resorts," the department added. "The lack of gaming duty on terrestrial casinos and no limit on the number of slot machines is expected to enhance the appeal of this opportunity to potential interested parties.”
Commenting on the decision to move ahead with the granting of the second casino licence, Minister for Economic Development, Allan Bell commented: "I believe the granting of a second casino licence and development of a hotel complex will be a great asset to the Isle of Man, creating significant economic opportunities and benefit. Not only will the development create jobs in the construction and leisure industry, but it will also significantly add to the island’s excellent existing services."
Tim Craine, Director, Department of Economic Development Business Development Agency added: "This is a rare opportunity to build on and complement our existing visitor and leisure facilities on the Isle of Man. We are looking to work with organisations interested in the construction, ownership and management of hotel and resort complexes. With good transport links from the UK, beautiful countryside, as well as nine golf courses and a range of outdoor activites, the Isle of Man offers an ideal location for five star hotel and spa leisure complex – a welcome addition for both visitors and residents."
The Department of Economic Development has invited interested parties to express their interest in the development and give a brief outline of their proposal accompanied by details of the company or consortium interested in delivering the project.