Casino Chains and Investors to Approach India

The potential for a profitable gambling market in Asian countries has been under the radar of many companies recently. Several casino giants and investors are looking to establish themselves in the rapidly growing gambling market in many parts of Asia especially India, Singapore and Macau. One of India’s premier beach destinations, Goa, is being considered by several gambling operators as a goldmine for offering gambling games to locals and tourists.

Indian casinos beat recession

Several investors and companies have taken note of the fact that some of the Indian casinos had actually been set up during the recession in 2008 and still performed very well. A group of well known investors from India started the Casino Royale in Goa in November 2008, which made big profits. Real estate magnate Jaydev Mody, who owns Delta Corp, runs the Casino Royale along with a group of prolific investors.

What started as a project worth INR eleven crore three years ago, rapidly expanded to over INR 100 crore by the end of the financial year in 2011. A collection of twenty four well known individual investors including Rakesh Jhunjhunwala invested INR 280 crore in Delta Corp. Noticing the advantages of such an untapped industry in a growing market like India, these investors believe that the gambling market is here to stay.

Steep profits registered by Indian casinos

Indian casinos have seen a steep hike in profits. There is also an increase in the number of casinos being established. In 2008, Goa was home to only one offshore casino and 10 onshore casinos found in luxury resorts and hotels. Within three years, this number has increased by leaps and bounds. With seven offshore casinos and seventeen onshore casinos in india, the collective revenue earned by these casinos has shot up from a humble INR 40 crore to over INR 300 crore by 2011.

Many representatives from local resorts and casinos believe that there is substantial potential for an expansion of the gambling market in the country. The partnership with global casino giants will lead to a massive boom in the Asian gambling markets. With the gambling business dipping in premier destinations like Las Vegas, investors are also looking at Macau and Singapore as potential gambling hubs.

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