State Considers Exit from ‘Casinos de Maurice’ Following Rs 2 Billion Loss

The Mauritian government is preparing to divest from Casinos de Maurice following a decade of financial decline and allegations of gross mismanagement.

Addressing the National Assembly this Tuesday, 5 May, Prime Minister Dr Navin Ramgoolam revealed that the state-owned entity has racked up accumulated losses totaling nearly Rs 2 billion between 2015 and 2025.

“Outdated” Business Model

The Prime Minister informed Parliament that the current operational model for the casinos is now considered “outdated.”

He expressed serious concerns regarding the previous administration’s internal handling of the company, specifically citing the controversial distribution of employee bonuses.

According to Dr Ramgoolam, a 14th-month bonus was granted to staff on the eve of the last legislative elections. Most notably, this payment was reportedly backdated by two years.

Transition Strategy

In light of the financial deficit and management failures, the government has moved to begin the withdrawal process.

Accounting firm PricewaterhouseCoopers (PwC) has been formally commissioned to draft a comprehensive plan for a gradual divestment.

This strategy aims to facilitate the state’s disengagement from the gambling sector while addressing the fiscal instability of the institution.

Source: Defi Media