The Sefton Group is urging the Isle of Man government to reconsider plans to award a second casino licence.
Last week, the Isle of Man government announced plans to issue a second licence and invited expressions of interest from potential developers. A move Minister for Economic Development Allan Bell said would create "significant economic opportunities and benefit."
However, question marks remain about the viability of such a project, given that the Isle of Man has such a small population already served by the island’s only existing casino property, the Palace Hotel and Casino.
The Sefton Group, which operates the casino, has warned that with such a small catchment area, the Isle of Man is unlikely to support two profitable gaming facilities.
"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," said Brett Martin, the group’s chief executive. "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."
