Big piece of India’s B market
The Maharashtra Tourism Development Corp. has come out in favor of land-based casinos in the Indian state, saying the industry could generate up to $277 million in new revenues for the government, a substantial chunk of India’s reported $60 billion annual gaming market, according to the Times of India. Currently, Goa, Daman and Sikkim are the only states that allow casinos in India.
“A certain percentage of this turnover, maybe around 25 percent tax, makes up to Rs1, 500 crore (US$277.78 million) a year for the public exchequer,” an MTDC official said at a recent meeting on the matter.
Another official estimated that more than 7.5 million foreign and 18 million domestic tourists visit Maharashtra every year, especially Mumbai, Konkan and Ajanta-Ellora. “If onshore casinos are allowed as recreational facilities along the Konkan beaches, including Mumbai, and if 40 percent of foreign tourists and 25 percent of domestic tourists visit these places, the industry can get an annual turnover of roughly Rs6,000 crore (US$1.11 billion),” the official said.
In 2015, Indian law student Jay Satya discovered that gaming legislation had been passed in Maharashtra in 1976, but never ratified or enacted. He pushed for a formal decision, and the Mumbai High Court directed the state “to decide … on the issue of implementation of the act, particularly since the legislation was enacted.” The final decision must be made by Chief Minister Devendra Fadnavis.
