Government ultimatum for casino developers

Caption: Casino developer Larry Claunch, right, showing plans of the proposed development to Prime Minister Bainimarama during the ground breaking ceremony on Denarau Island in April last year. Photo: SHALENDRA PRASAD.

STATEMENT FROM THE ATTORNEY-GENERAL ON ONE HUNDRED SANDS LIMITED?

The Fijian Government will not hesitate to cancel One Hundred Sands Limited?s exclusive casino license if the company cannot demonstrate that construction of the new casino will begin soon, to the agreed-upon standards and specifications.

With due consideration of the significant economic benefits the project would bring to Fiji, Government has given One Hundred Sands ample time to get their finances in order. Today, I have written to the Chairman asking him to show clear cause why Government should not cancel the License. Their response will be assessed in the best interests of the Fijian people.

Under the terms of the License, One Hundred Sands will be required to pay the Fijian Government a US$100,000 penalty each month that the project remains incomplete, beginning 1 October 2013.

MINFO