Mauritian Government Relaunches Casinos Sale after Suffering Rs 2 Billion Losses

The Mauritian government has officially relaunched the sale of its stakes in the heavily deficit-ridden Casinos de Maurice, appointing PricewaterhouseCoopers (PwC) to structure the multi-stage privatisation process.

The state-owned enterprise, which includes the high-profile Grand Casino du Domaine at Les Pailles, accumulated nearly Rs 2 billion in losses between 2015 and 2025.

In an investment opportunity document formalising the announcement, PwC confirmed that interested parties must submit their expressions of interest by 15 August.

An ‘Obsolete’ Business Model

The decision aligns with a broader government strategy to rationalise public holdings and alleviate the burden on public finances.

On 5 May, Prime Minister Navin Ramgoolam informed the National Assembly that the state could no longer sustainably support the enterprise, describing the current business model as “obsolete.”

The cabinet has validated PwC’s appointment to oversee a phased divestment.

The strategy aims to introduce private capital, expertise, and agile management to the business while attempting to preserve local employment and continued operations.

According to the PwC document:

“This business opportunity offers an interested party the possibility to expand and diversify its activities, while taking advantage of a growing entertainment and hospitality sector.”

Rising Competition and Political Controversy

Casinos de Maurice is majority-owned by the state via the State Investment Corporation (SIC) and has operated strategic gaming venues across the island since 1984.

While the company enjoyed a profitable era in the distant past, it has suffered recurrent losses over the last two decades.

The current administration attributes the financial decline to several structural factors:

• An operational model poorly adapted to changing market trends.
• Increased competition from online gaming and a proliferation of gaming houses across the country.
• High structural costs.
• Persistent governance issues.

The financial mismanagement drew direct political fire this month. In May 2026, Prime Minister Ramgoolam openly criticised the previous administration’s governance, specifically pointing to the distribution of staff bonuses—including a 14th-month salary—disbursed on the eve of the last elections.

A History of Failed Sales

This latest privatisation push follows two decades of abortive attempts by successive governments to offload the gambling venues.

In 2019, the then-MSM government officially launched a privatisation process that ultimately collapsed.

Further attempts were made between 2021 and 2022, when consultancy mandates were handed to various firms, including KPMG.

Although the SIC declared itself open to all proposals and negotiations reached an advanced stage, the deal fell through.

A subsequent exercise announced in 2023 similarly failed to reach an outcome.

Source: Defi Media