Nepal's casino war may reach Goan coast
Shirish
Pradhan
2August 2007
Kathmandu, (PTI)
An
American businessman, involved in a legal battle with an Indian citizen Rakesh
Wadhwa over the control of Nepal's casino industry, is planning to open a floating
casino in Goa.
The businessman, R D Tuttle, said a ship for the casino has
been ordered and will soon arrive from USA. He had already paid Nepalese rupees
five crore fee to Goa government for registration.
Though foreigners are
not allowed to invest in casino business in India, he said he would manage it
by appointing a dummy investor and taking hold of the management of the casino.
The casino, with Rs 50 crore investment, will be three storied and will employ
few hundred locally hired staff, he said.
Though the senior staff will be
taken from Nepal for short period, they will return after imparting necessary
trainings to the new recruits, he revealed.
Now Tuttle will have competition
with Wadhwa not only in Kathmandu but in Goa too, where Wadhwa already has stake
in a floating casino. Goa government is learnt to have granted licence to five
new casinos for operation this year.
Speaking about his legal battle with
Wadhwa over control of casino industry in Nepal, Tuttle said: "I am half
way to win the battle after the Hong Kong Court decision on July 27." The
casinos, seven in Kathmandu and one in Pokhara, are run by Nepal Recreation Centre
(NRC), a joint venture owned by Hong Kong registered company, Cannosa Investment.
In
fact, the court verdict to revive the old Cannosa and ruling that "the company
and all the persons are placed in the same position as before" gives Tuttle
the Power of Attorney of the Cannosa, which was denied earlier.
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