Daman
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I havent seen a lot about Daman, India casinos until recently in early 2008. So it hasnt really been on my radar screen, but is now, and in a big way. Here’s what Ive seen written:
First, from Thunderbird Resorts fourth quarter 2007 press release:
In India, the Company previously announced a 50-50 joint venture agreement with a group of Indian Nationals to develop a 5-star resort in Daman, India. The first phase funding of this project is planned in the second quarter 2008 under which the parties will jointly fund $16 million in equity consisting of 40,000 square meters of land and $8 million of capital contributions. Daman Hospitality Private Limited will be owned 50% by Thunderbird and 50% by a group of Indian Nationals. The Company will commence construction of a 5-star hotel, an event center, various food and beverage outlets, and a casino. The casino operation will be owned by a group of Indian nationals which will lease space from Daman Hospitality Private Limited under a comprehensive lease arrangement.
Also, I saw this here:
Highstreet Cruises and Entertainment will also leverage a regulation that allows gambling in the Union territory of Daman, and has plans to set up a five-star, 100-room hotel there.
“Daman has lovely beaches, has lot of industrial activity and the resultant footfalls, and is very near to Mumbai and Pune. It has great potential for entertainment and gaming activity”, Mody said.
