Mandovi boats win another extension
Starting this month, casinos in Goa will see their licensing fees go up 2.5 times to 4.5 times, according to the Times of India. The increase is expected to boost annual revenue by approximately Rs150 crore (US$23 million).
Goa has six offshore and nine land-based casinos.
“We are yet to get an official intimation about the hike in various fees for casinos. We will react once we get the details,” said Srinivas Nayak, director of Casino Pride. Shares in rival Delta Corp., India’s largest casino operator, dropped 16 percent on the news.
Offshore casinos with the capacity to carry more than 400 passengers will see their annual license fees increase to Rs40 crore up from Rs12 crore. For offshore casinos with the capacity for 200 and 400 people, the fee has been increased to Rs30 crore per year, up from 11 crore. Shihile vessels with less than 200 in passenger capacity will now pay Rs25 crore, up from Rs10 crore.
Onshore casinos also saw an increase in annual fees, to Rs50 crore from Rs20 crore per year. License application fees, transfer fees, renewal fees and the amount of non-refundable security deposits also will be increased.
In addition, the government announced that it has agreed to extend the license of offshore casinos operating on the River Mandovi. Those licenses, which were set to expire on March 31, are now valid for another six months.
