11 Feb 2015

Poor due diligence behind failed Fiji casino

2:59 pm on 11 February 2015

The opposition finance spokesperson in Fiji, Biman Prasad, says the government needs to do more due diligence when being courted by overseas investors.

His comments come after a 15 year exclusive gaming licence given to the failed One Hundred Sands casino resort project in 2011 was revoked by government this week.

Gambling. Dice

Photo: RNZ / Diego Opatowski

" It was too good to be true to begin with. It is a very important lesson for government for the future to watch out and do the due diligence before they give licences to companies which perhaps do not have the capacity or the capability to finally invest that kind of money."

The leader of the National Federation Party Biman Prasad.

The failed $290 million US dollar project was supposed to have been operational in 2013 and has accumulated 1.1 million US dollars in fines imposed by the Fijian government after failing to get off the ground.