Hospitality firm Hotel Leela Ventures is negotiating with the MDLR Group to sell-off its offshore casino in Goa, a senior company official said today.

“We are negotiating with the MDLR Group to sell our offshore casino in Goa,” Leela Group General Manager (Corporate Communication) Mithu Basu said. The deal, which is not yet signed, will be tabled for approval at the company’s board meet on June 27 in Mumbai, Basu said.

Also Read   Related Stories News Now - Great Offshore: Great buy? - Bharati Shipyard open offer for Great Offshore at Rs 344/share - Bharati Shipyard fixes open offer price at Rs 344 - Hostile takeover of Great Offshore possible: Analysts - Bharati Shipyard to buy addl 20% in Great Offshore - Dolphin Offshore up 10% on $18-million order

Also Read   Related Stories News Now - Markets end flat - Turbulence ahead for airlines despite oil price drop - Weak rupee may bring cheer to NRIs, expats - LIC buys PSU stocks, sells pvt sector blue-chips in Q4 - Banks may lower deposit rates as inflation eases: Report More

Leela Group halted operations of its Casino Rio recently since it was located several kilometers away from Panaji and was, hence, unable to attract customers.

Besides, large-scale opposition from local fishermen in 2007 had forced resort owners to relocate their offshore casino from the resort adjoining river Sal to river Mandovi in Panaji.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end flat - Turbulence ahead for airlines despite oil price drop - Weak rupee may bring cheer to NRIs, expats - LIC buys PSU stocks, sells pvt sector blue-chips in Q4 - Banks may lower deposit rates as inflation eases: Report

Tags : Hotel Leela | offshore | Goa | Mithu Basu | MDLR Group   Read Business news in  Advertisements -  Journey on, We are by Your Side. Click here to know more -  2 Lac Apartments, 1 Lac House / Plots. Click here -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  Learn How One City is Running on FOOD SCRAPS. -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More