It is reported from India that Goa casino cruise company Advani Pleasure Cruise, a subsidiary of Advani Hotels & Resorts, is considering abandoning the casino cruise market. Advani Pleasure Cruise (APCCPL) is 51% owned by Advani Hotels and CAI Casinoinvest International, a Casinos Austria subsidiary, owns 46%.

APCCPL’s vessel the Caravela was for several years the only casino cruise ship operating in Goa. It has now been joined by other operators; around six at present with more expected to be licensed. The recent rapid expansion of vessels offering the chance to gamble aboard has come at a time when gambling spend across the world has been declining.

At a recent meeting of the Advani Hotels board, it was decided to explore the option of disposing of the casino subsidiary APCCPL. The company has not commented on what prompted the possible exit from the Goa off-shore casino market, but has made it known that a buyer is being sought for its cruise ship company. (E-04.29.09)

© Copyright 2009 CasinoCompendium



>>> return to archives
>>> return to frontpage