Goa is ready to become a crown jewel in the gambling industry of Asia since there is a new regulation that will put a stop to the floating casinos. Union Gaming, the international brokerage, predicted that there will be a bright future in this Indian state.
In fact, this prediction by Union Gaming happened just a couple of days after the Chief Minister of Goa Manohar Parrikar made an announcement that there will be formal regulations for the casinos in this area. Goa will publish them by the end of August which and one of the things that will be included in it is that all of the floating casinos in this state will have to be transferred to the land.
One of the analysts, Grant Govertsen, said that the Goa’s policy on the casinos will be crucial and “transformational” since the integrated resorts will come to life and will not only put India on the map of this type of gaming but will perhaps make it an epicentre. The government of India is pushing the high-quality IRs in order to increase the popularity of the casinos and improve the economy of the country.
The estimated revenue in gambling in Goa is currently somewhere around $200 million at the moment. If everything goes well and all the Integrated Resorts that are planned in the future go through, it means that Goa can become a market worth a billion dollars. This could all happen overnight, according to Govertsen.
The reason for this growth is definitely the great demand for this type of entertainment. The demand has gone up simply due to the fact that the tourism in this area has skyrocketed in the last couple of years and this means that a lot of tourists are yet to go there and ask for casinos. Govertsen added that they believed that the true Goa potential could not be reached without the high quality integrated resorts.
Another company which will see a huge benefit in these changes is Delta Corp. Ltd. since they already have three floating casinos in this area. According to Govertsen, the government of Poa plans to grant licenses to the companies that already hold some of the floating casinos. This means that Delta Corp is probably the first to get it.
Govertsen also stated that the quality that Delta Corp provides in comparison to the competition was way better and “light years” ahead of them. The quality of their service and the way they deliver it is world-class. They have already bought a site near Goa where they are building an airport, and they plan to hire some of the best gaming architects for their possible land casinos.
The numbers show it all – Delta Corp made an out 85.7% more profit this year in comparison to the previous fiscal year.
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