Madam Speaker, I am informed that the casinos have made operating losses of Rs272 million for the financial year ending 30 June 2025 and Rs121 million for the six-month period, that is, from July 2025 to December 2025. I should also highlight that the total losses that have been accumulated for the period 2015 to 2025 amounted to Rs1.9 billion. The model that casinos have been operating in Mauritius is clearly flawed, Madam Speaker. The chronic losses made by casinos are attributable mainly to the following – (i) The Casinos of Mauritius closed Sun Casinos and Beach Casinos Ltd, which resulted in massive redeployment of 111 staff to other already overstaffed casinos. So, we had a problem of overstaffing; (ii) Despite that the Casinos of Mauritius was systematically making huge losses every year, on 02 September 2024, that is, on the eve of the General Election, the management of the casino signed a collective agreement to provide a 14th month bonus as productivity bonus, and this, Madam Speaker, was backdated to 02 July 2022. The company was making losses, yet they decided to pay a productivity bonus on the eve of the election and backdated it to 02 July 2022. This is how the MSM operated! It is not their money. They could not give a damn. Sorry, I do not know whether it parliamentary. They could give a care, but they just spent. This the method of the MSM. This was the level of incompetence and irresponsibility by the previous regime which, therefore, naturally further made the situation worse. All they cared about was to lure voters by dishing out public funds! With a view to maintaining casino operations, SIC has injected funds to the tune of Rs1.3 billion during the period 2015 to 2025. The latter had to contract debts amounting to Rs771 million to finance this injection. In addition, I am informed that casinos have arrears amounting to Rs262 million as at March 2026. Now, this model of financing the losses of the casinos is clearly, Madam Speaker, unsustainable as it entails massive transfers of funds from profitable entities of the SIC to loss making ones. This mechanism will rapidly reach its limit and the SIC will have to ultimately borrow to finance the deficits of the casinos. This will have a direct bearing on public sector debt and which should be avoided at all costs. Madam Speaker, it is not the business of Government to run casinos, especially when it has clearly been making losses over so many years. As I have already stated in the House, Government is in the process of disposing the casinos. I am informed that, as of today, a Transaction Advisor, namely Price Waterhouse Coopers, has already been appointed since February 2026 to provide advisory services for the disinvestment process. The Transaction Advisor has completed the first phase of the disinvestment process by working on an estimated valuation for the casinos. The Transaction Advisor has also prepared an Information Memorandum and an Expression of Interest. The launching of the Expression of Interest is scheduled for May 2026. The SIC, Madam Speaker, will have to come up with bold options to address the related human resource issues arising out of the disposal process of the casinos, including the possibility of elaborating an Early Retirement Scheme.

Mr Rookny, yes!

Thank you, Madam Speaker. Could the hon. Prime Minister inform the House if the companies owning the Casinos in Mauritius continue to remain solvent? And up to when will the Government continue to inject funds in the lossmaking casinos?

As I said, Madam Speaker, I do not know. Maybe I am mistaken; maybe the hon. Leader of the Opposition seems to know how many people attend whatever. I think this is the only country in the world where casinos actually lose money!

(Interruptions)

You started the bid. I just told you how many millions you lost when you were in power. But this is precisely why we are relooking at it. This is why we appointed Price Waterhouse Coopers, and these are the steps we are doing because it is unsustainable.

Hon. Members, before we proceed with the next question, I had the feeling that my previous ruling on the question of giving opinion did not meet the consensus in this House. I have just checked – because I do not know everything by heart – Standing Order 22 (1) (g) – “a question shall not ask for an expression of opinion, (…).” That is all I have to say! Next question! Hon. First Member for Vacoas and Floréal! GOLDEN VISA SCHEME – INVESTMENT CRITERIA & IMPACT ASSESSMENT