Construction of £70million headquarters not anticipated to resume
A £70million pound construction project that was billed as the largest ever single investment in the Island has been put on indefinite hold.
It follows the Gambling Supervision Commission's decision to cancel the gambling licence of King Gaming, the company behind the plans.
The move by the GSC follows suspension of the licences of King Gaming Limited and Dalmine Limited 24 April due to an ongoing criminal investigation.
Work on construction of King Gaming's new HQ off Victoria Road, Douglas had been commenced by local contractors the Excel Group, but was put on hold when news of the suspension broke.
Construction company, Excel Group, which had been contracted to build the new headquarters for King Gaming had been working on the project for two and a half years.
Police confirmed they had executed a series of warrants on business premises in Bucks Road and Victoria Road on the same day the suspension of King Gaming's licence was announced by the GSC in April. Seven people were arrested and later released on bail.
The cancellation by the GSC of King Gaming's Licence with immediate effect is supported by a brief statement in which the Commission says it continues to liaise with partner agencies regarding aspects of King's affairs.
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