The Domaine Les Pailles has been sold off for Rs 441 millions; all the restaurants and the available lands part of it formed part of the agreement, except for the casino, which was not included in the Rs 441 millions sale deal. It is the Yihai International Investment Management Ltd which made the colossal acquisition. A Memorandum of Understanding (MoU) was signed by the State Investment Corporation and the Chinese company.
The new owner of the Domaine Les Pailles intend to make some massive investments for the maintenance of the latter; it is ready to invest 113 millions of American dollars for this purpose.
The casino at Domaine Les Pailles
When asked about the losses being faced at the Domaine Les Pailles, Minister Xavier Duval said that even before the government took possession of it, Domaine Les Pailles was already facing considerable losses,at around Rs 95 millions. That was recorded from 2010 and 2013. As for the employees, they will still be able to work and will not lose their jobs because of the site having been sold to another company. Rather, they will continue to work for the new owner.