The David Group has proposed a $2 billion development project that includes a stand-alone casino to be built in Fiji, if gambling licence is granted by the Government.
If approved, the first phase of the development costing $1 billion includes the casino, 1000 room luxury integrated seven-star hotels with restaurants, conference rooms, a business centre, shopping mall, marina and the infrastructure required to connect this multifaceted development.
Managing Director, Pacific Islands Business Consultancy PTE Limited, Sandeep Singh said a second phase of the development costing another $1 billion would include an amusement park, indoor rugby stadium and entertainment complex and luxury subdivision.
Singh said this project is in line with a government agenda of private sector led growth that adds value to the domestic economy while boosting exports in the services sectors.
He said it also satisfies a need to increase the capacity and scope of the tourism industry in Fiji.
Singh said while it is understood that Fiji has been averse to gambling, casino tourism is common place in many parts of the world and is an important part of the David Group model.
“A casino would provide the opportunity to diversify the Fijian tourism sector and entice more tourists from China. However, while a casino may be a lucrative inclusion to the Fijian tourism landscape, we must mitigate against the local community being exposed to gambling in line with the ethos of the Government and stakeholders, like the Churches.”
Proposal
David Group has proposed and is in agreement to a five per cent Gambling Turnover Tax, to establish a charity trust that will provide support to education, youth development and welfare endeavours in Fiji.
The charity trust will be funded through an annual allocation of four per cent of the net income.
The David Group will allocate another one per cent of its net income directly to the Great Council of Chiefs to support their initiative of provincial development; also $500K to be allocated as additional funding to the Ministry of Youth and Sports, for the development of grassroots rugby.
They have also agreed that $1 million, upon the licence being issue, to support an initiative of village modernisation.
Singh said David Group offers Fiji an opportunity to boost economic growth, created world-class infrastructure, provide jobs and generate revenue for the community.
