Six offshore casinos in River Mandovi can help with taxes for aggrieved city
The Corporation of the City of Panaji (CCP) resolved to renew the trade licences of the offices of all six offshore casinos, operating in River Mandovi, in the state of Goa. The corporation is expected to earn Rs 52 lakh, around US$5.2 million, revenue from the renewal, which was due in March.
Although there was objection to the licence renewal by three councillors against Commissioner Sanjit Rodrigues’ decision to grant trade licence to off-shore casinos, Mayor Uday M. Madkaikar justified the decision stating that government has already permitted casinos to resume operations from November 1 and CCP can get into legal hurdles if the trade licences are not renewed.
The mayor also said that several restaurant and hotel owners, taxi operators approached the corporation with a request to grant the licenses, so they can resume operations, which in turn will help these people to get business.
The Council, which met after almost eight months, also agreed in-principle to waive off payment of various taxes for commercial establishments, within its jurisdiction, for the period they remained shut, due to the COVID-19 lockdown, and that the taxes to be imposed on the floating casinos would help revenue to pay salaries.
Delta casinos company buys stake in shipbuilder
In related gaming news, Delta Corp Limited Company Secretary & GM, addressed Disclosure under Regulation 30 of the Securities and Exchange Board of India, informing that that Delta Pleasure Cruise Company Private Limited, a wholly owned subsidiary of Delta has agreed to subscribe to up to 45% of the equity share capital of Waterways Shipyard Private Limited for consideration, not exceeding INR155, billion, some US$20 million).
WSPL is an established shipyard operator on India’s western coast, which has previously constructed over 60 vessels, including the vessel ‘Casino Royale’ used for casino operations by one of the Company’s subsidiaries. Given the significance of marine vessels to the Company’s casino business, this investment is expected to bring strategic benefits and a long term partner to support Delta Group’s vessel building and maintenance requirements.
