leelaventure will have to pay deposit and an annual licence fee to goa govt

Goa to get India’s 2nd floating casino

Posted: Tuesday, May 23, 2006 at 0000 hrs IST
Updated: Tuesday, May 23, 2006 at 0000 hrs IST

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Mumbai, May 22: Hospitality major Hotel Leelaventure Ltd is launching India's second floating casino in Goa. Current government guidelines do not allow casinos on land. Hence, the idea for a casino at sea.

‘The Caravela’ in Goa is the only shipboard casino in India right now. It is being managed by a leading player in the global casino industry, Casinos Austria International (CAI).

Its on board 'Goa Casino' is operated by the Advani Pleasure Cruise Company Ltd, a joint venture between Advani Hotels and Resorts India (AHRIL) and CAI. Leelaventure's Rs 16-17 crore casino is expected to be operational by August this year on a catamaran acquired by the company.

"The boat will be stationary at a particular area on the water and at the required distance from the shore as per the rules laid down by law," Hotel Leelaventure vice chairman and MD Vivek Nair told FE.

The company is in the process of evaluating various international casino operators who have a presence in Nepal, Europe and US. The company will select one operator to manage and run the casino. Hotel Leelaventure will have to pay the Goa government a one-time deposit and an annual license fee in order to keep the casino running.

While 'The Caravela' is an entertainment destination, complete with specialty restaurants and a swimming pool, drawing in about 35,000 tourists every year, Hotel Leelaventure's floating casino is largely meant for its up-market clientele and will also feature a restaurant apart from the casino room.

"As much as 50% of The Caravela's 35,000 tourists who come on board are dedicated casino-goers," Harish Advani of AHRIL told FE. "During the off-season, we get a lot of Indian tourists but during the peak season, it's a healthy mix of Indians and foreigners," he added.

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Goa to get India’s 2nd floating casino

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