The Isle of Man’s new casino project attracted a number of expressions of interest from potential developers but, having taken the process to the next stage, now only one remains.
The island’s government received seven expressions of interest to develop a new five-star hotel and casino, the deadline for which was set at January 31.
Economic Development Minister John Shimmin gave an update on the process to the lawmakers this week, Isle of Man Today reports.
“At this stage in the process, and despite a requirement in the invitations document, the department considered that it had insufficient information to evaluate the seriousness, capability, expertise or financial soundness of the potential developers,” he said. “The next stage in the process was to be a full tender submission. However, before doing so, the department decided to invite each party to answer a key facts questionnaire and to make a short presentation. At the end of this process, only one expression of interest remained.’
The Department of Economic Development will now discuss the project with the remaining interested party to “identify its viability.”
