Sefton Group notes with disappointment the news release issued by the Isle of Man Department of Economic Development yesterday (22nd September) seeking expressions of interest related to the issue of a second casino licence. The news release follows a decision taken by the Council of Ministers in April 2011 to pursue the matter ‘without damaging the viability of the existing casino operator’. The average UK casino has a catchment population of nearly 400,000 and there are no instances where two casinos operate in close proximity without a local area population of at least 250,000. Blackpool, with a town population of 140,000, a local area catchment many times bigger, and 1.5 million visitors per year has just two operating casinos. The Isle of Man market is much smaller and more mature than its UK equivalent, having hosted a casino operation for more than 45 years, and so there is no realistic prospect of two casinos operating profitably, or of a second operator doing so without affecting the viability of the first (as required by the Council of Ministers’ original brief). Commenting on the news release Sefton Group Chief Executive, Brett Martin, said: ‘We understand and respect that it is the will of Government to examine the viability of a second licence but we have been urging that a comprehensive financial review be undertaken as the first step. Our disappointment stems from the fact that this has apparently not been done and that the process is being pushed forward without a proper assessment and understanding of the local market. We will be asking Government to reconsider this approach and undertake the financial due diligence before proceeding further’. ENDS