🔥 Maharashtra may allow offshore casinos - The Economic Times

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Goa was the first Indian state to permit casino gaming. had discussed bringing out a casino and cruise policy during Invest Karnataka


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Goa was the first Indian state to permit casino gaming. had discussed bringing out a casino and cruise policy during Invest Karnataka


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New casino policy of Goa government can be a win-win for everybody: There is a political sensitivity when it comes gambling in India and.


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The state will either make you richer or wiser, here is the list of top 10 best casinos in Goa. Deltin Jaqk; Casino Pride 2; Deltin Caravela; Casino Carnival; Casino.


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Meetings: , , , , , , Indian education topics MN, and Casino Project, Amador County, CA, Samish Indian Tribe, WA Entity list India ; entity removed and license review policy revised.


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In long India Gambling Laws ​ While the debate about what gambling is legal and Gambling falls under the state list, and thus the states have the power to.


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They have realised that ours is a business, the gambling part is for the customer. The business is there and we will keep growing. Demonetisation gave us a dip only for a couple of months because most of our business was again on credit cards. What about online gaming? Then we started a land-based casino in our hotel which again added to our revenues. About 30 years ago, it was Rs for a 5-star hotel room, today it is Rs 15, to Rs 20, and we are not in the business of hotels. I do not know where you got those numbers from but yes we are planning to invest, subject to the new land policy coming in. In Goa, it has become part of the economy now. Yes, the EBITDA margins have been pretty steady and they would not get affected in the future by more than a couple of percent here or there. If the government realises that there is a multi-billion dollar business out there in gaming -- but it is all grey market or below the radar -- and they tax it appropriately, it would all come into the organised sector and then the business can grow. Goa does not have a lot of taxation or revenue coming in from anything else other than tourism and casinos. It is a numbers game. For reprint rights: Times Syndication Service. If that is in line with what we hope it will be, then opportunities will keep coming. We are on the ground floor. The whole industry is about 10 years old and this is just the beginning and it has got a long way to go. We are running a business. It makes a lot of sense. We are still hoping that the government will look at it again and rationalise because the increase has been manifold and unreasonable. How has the journey been and where do you see it headed? It is not gambling for us. Jaydev Mody. We started 10 years ago with one casino, then two and then three. We have seen gross gaming revenues grow as well as your overall visitations. Why is that and how do you see the hotel business shaping up? Are you seeing a lot of competition here? Market Watch. Company Summary. Give us some projections.

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Over the past many years, you have overcome a lot of these hurdles as a business to sustain. I do not see any reason why we cannot keep growing at that pace in the future. Where do you see the company over the next three to four, five years? We just about started the business. In the poker business, which is our adda52 brand, we are the leaders. What had prompted you to acquire Advani Hotels? All rights reserved. Read more on Delta Corp Ltd. Expert Views. But we have worked harder to overcome that cost and we have come out okay level. Commodities Views News. That was our main concern and we were also keen on getting hotel room inventory in Goa and this was a good way to do it. The game changer of course, like you said maybe the casino policy. Fill in your details: Will be displayed Will not be displayed Will be displayed. Could the new casino policy of the Goa government be a game changer for you? But all that depends on the casino policy and based on that, we structure our investment and our plan etc only after that. To see your saved stories, click on link hightlighted in bold. Now you have gone on record saying that you do not like dealing with the hotel business. We are crazily taxed and to grow in this environment is extremely difficult and very challenging. Pinterest Reddit. Delta Corp Ltd. Lots of people claim that they make money in hotels and that may be true if you hold on to the asset for years where ARR changed. How did you overcame those headwinds? Add Your Comments. Over last two years, demonetisation and increase in license fees, led to a significant correction in the stock price. Become a member. The market is there. So, we do not find too much going on there in terms of competition but we have two other businesses -- adda52rummy and the Fantasy business -- where we have started off and have start-ups and are fighting to get market share. We just had to market harder and sell harder and improve footfalls and work at our top line and we have recovered that hit substantially. Market Moguls. Technicals Technical Chart Visualize Screener. Download et app. Edited excerpts: What is your vision for Delta Corp? What is your vision for Delta Corp? They will look at it if they want the industry to survive. And our margins are pretty good. It would make sense politically because the chief minister has been asked by the people to get the ships moving out of the Mandovi. The hotel business does not ever make money, according to me. Forex Forex News Currency Converter. Is that plan still on the anvil and how will that help your overall casino business? Zia, Jaydev Modi become grandparents to a baby boy. There is adda Is this going to be the next wave of strong growth? We were very keen on acquiring their subsidiary called Advani Pleasure Cruise. And they could improve only if taxation is rationalised. The travel time is less, there is no traffic in the river and all the allegations on so many other aspects of being in the river goes away. Follow us on. We are planning to do an integrated resort which would have much more than hotels and gaming, it would have a water park and a lot of retail and a convention centre kind of a destination, an integrated resort. It is a very tough business, yes. There is a political sensitivity when it comes gambling in India and regulatory hurdles as well. It is a win-win for everybody, for the government, for the people and for the industry. We just have to keep innovating and keeping our product and our quality of service, right up there. Can we assume that the margin picture will look healthy as well? We started a casino in Sikkim which added to our revenue and now we are waiting for a license in Daman and an opening in Kathmandu that will drive revenues. It already exists. He thought the best thing would be to keep it close to the new airport, so that the rest of the state does not get affected. But a lot has to happen to make it a global kind of business, the most important one being taxation. We recovered pretty fast. Markets Data.