The Economic Development Minister has confirmed serious interest has been raised regarding the possibility of a major new development for the Island.
John Shimmin said the department has received seven expressions of interest in a proposed plan to build a new five-star hotel and casino here.
He added the DED is about to enter into discussion with the interested parties to better understand their proposals and the potential economic benefit to the Isle of Man.
Minister Shimmin said that only then will a decision be taken as to whether to invite formal tenders.
He confirmed the department does have available grant assistance schemes under which appropriate actions can be considered, but as yet no applications for consideration have been received.
The minister concluded by saying a license would only be recommended if the new development was significantly different to the existing casino and leisure complex in Douglas.
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