Land-based Casino Operators gets Financial Support

The Economic Development Board particular office has show commitment to supporting casino operators and other economic operators that the COVID-19 pandemic has impacted, in essence, operators who are not functioning due to the health restrictions in the country.

As a result, a particular office has been set up at the Economic Development Board (EDB). This collaborates with the Development Bank of Mauritius Ltd and the One-Stop-Shop of the Ministry of Finance. This office will support companies engaged in the following sectors: fitness centres, food court, bar, restaurant, cinema, casinos, night clubs, reception room, multipurpose room amongst others, and any other business sector that officials could recommend Economic Development Board.

These operators in these sectors would be eligible for financial support from the Development Bank of Mauritius Ltd. Under the following scheme that the authorities have set, which include an interest-free loan of Rs 100,00 to settle cash flow problems, a special Covid-19 support program for a loan of up to 1 million rupees with an interest rate of 0.5% and a one-year moratorium. However, they created this program to support operators that have shut down their operations, especially in the entertainment scene due to the health restriction impose by the Mauritius government to curb the spread of the virus. This approach is evident that the limitation has significantly impacted the majority of the land-based casino operators. Several of these companies could not return to business even after restriction could potentially be ease in the coming months. This is quite a commendable effort from the authorities to set up a financial program for operators such as the land-based casino segment to mitigate the effect of the health crisis in the country.

Meanwhile, the casino operation has been closed down since March 30. Even before that, they have been restrictions for much of 2020; As mentioned earlier, undoubtedly, the land-based casino operators felt the impact of the covid-19 pandemic outbreak. Since the first national lockdown in the country, which continues with no definite resumption date, has also disrupted the horse racing season. However, these new directives by the authorities have left operators in the entrainment and casino sector to share their frustration in the previous month. According to local media, one of the casinos’ owners who wish to speak in anonymity says the future of their business is dying. This second confinement to the land-based casino is not good for their business as our turnover is negative laments.

While one of the directors, Monta Ida Films Rajesh Calicharan, says that given the evolution of the Covid19 pandemic in Mauritius, his company owns several cinemas, casinos including Machine (train, Flacq, and Port Louis) and Novely in Curepipe.

“The well-being of the population must come first with the record contamination of the pandemic in India and United States, and no films are showing in theaters and no casino operations,” – he said.

However, Rajesh does not hide his concern about the future of his business; with this second lockdown, we should be ready for a hard time as things could get worst, and we should be prepared for survival mode. These could be worst than the first national lockdown, – he said. The vaccine roll-out has been delayed in Mauritius than what the government plans. This has been one of the government’s initiatives to provide relief fund for operators in the entertainment sector.

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