I’m going to the boat casino to dry the land game changer

In response to India’s Goa state chief minister’s announcement that existing boat-based casinos (pictured) must be converted to land operations within four years and official rules related to casino businesses will be announced by the end of August, a broker described Delta Inc., one of the current Goa operators, as “transformative.”

Union Gaming Securities Asia Ltd, which is responsible for Delta Corp, experiences from the United States show a nearly 25% increase in total gaming revenue (GGR) in 2000, the first year it opened its operations after its Illinois River Boat Casino license was converted to land.

Goa has allowed small electronic game halls in luxury hotels on land over the years.

Union Gaming estimated Goa’s annual GGR at around $200 million, but added that the country’s “true potential” and India’s “true potential” cannot be realized without a venue-side “supply of quality.” The brokerage has an optimistic view of the future of Goa gaming, suggesting earlier this year that the size of the industry could exceed $1 billion at GGR in a few years.

According to a 2016 report by Global Market Advisors LLC, the Indian casino market could be worth $10 billion a year in terms of facilities, with “the right product.”

“We believe the introduction of a high-quality integrated resort (IR) supply will firmly place India on the game map and (eventually) become one of Asia’s crown jewels,” Union Gaming analyst Grant Govtsen said in a note on Monday

He added: “Important is the government’s intention to issue IR licences only to those who hold existing maritime licences. Delta holds three of these licences, two are owned by other companies, and a sixth have never been in business…”

Mr. Govtsen also said, “In terms of developing the first IR, Delta has not only purchased a large site near the new airport already under construction, but it’s also going well in terms of masterplanning the site with the world-renowned game architect.”

Delta Corp reported an unaudited net income of INR 416.6 million ($6.05 million) on revenue of INR 1.96 billion in the fiscal second quarter ended June 30 two weeks ago, and an operating net income of INR 216.4 million on revenue of INR 1.32 billion in the same period last year.

The company, India’s only publicly traded gaming company, currently operates casinos in the Indian states of Goa and Sikkim.

BY: 슬롯사이트 순위

Paradise Co Casino Up 89 pct In August

Paradise Inc., South Korea’s foreign-only casino operator, saw casino sales rise 89.3 percent month-on-month to 50.76 billion won ($37.3 million) in August.

Revenue fell 15.0% year-over-year. The company did not comment on the reason for the change.

The group’s table game sales rose 97.5% sequentially to 48.1 billion won in August 2022, but fell 16.6% year-on-year, according to data submitted to the Korea Exchange on Friday.

Machine game sales rose 8.4% month-on-month to 2.66 billion won last month and 33.4% year-on-year.

The month-on-month improvement was consistent with South Korea’s tourism market continuing to ease entry procedures for foreigners from certain places to recover from COVID-19-related disruptions.

Paradise’s cumulative casino revenue for January-August 2022 was 178.56 billion won, down 0.3% year-over-year.

Through Aug. 31, the amount customers exchanged for chips at the table increased 8.8% year-on-year to nearly 1.31 trillion won.

The company’s casino division consists of Walkerhill in Seoul, Paradise Jeju in Jeju Island, real estate in the port city of Busan, and Paradise City in Incheon, with the latter operating through Japan’s Sega Sammy Holdings Inc. and ventures.

In August, Paradise reported a net profit of just 18.61 billion won for its shareholders in the second quarter, down 1.6% from a year earlier.

BY: 안전 슬롯사이트

Philippine gaming regulator explains alleged lack of pogo back tax

The Philippines’ gaming regulator reportedly recently announced that an independent government commission had settled just over a third of the centurion it claimed owed to the collection of Philippine offshore game operators (POGO) license holders.

According to a report by Inside Asian Gaming, guardians of the Philippine Entertainment Gaming Corporation (PAGCor) have responded to claims released by the Audit Committee last week that a group of licensed eye game companies in the country is losing more than $42.55 million in total. The source explained that the figures were released after a formal review and represented total arrears over the past year.

Faulty figures:

However, PAGCor reportedly declared that just over $14.89 million of that total was “finally settled” after it was wrongly charged to a business operator suspected of operating an undeclared website. Regulators also announced in a “thorough re-examination” that the secret domain turned out to be a product of an unlicensed agency stealing livestreams from POGO-licensed companies.

Pandemic Issues:

PAGCor then reportedly attributed the remaining $27.66 million in unpaid taxes to the impact of the coronavirus pandemic and its own decision to tally the minimum guarantee fees incurred by local licensed iGaming companies that have not yet reopened. The Philippines began distributing POGO certifications in 2019, but the number of high-water markings at 63 public operators has since dropped to 26 as of April, and regulators have also unilaterally cancelled 22 licenses since the start of the year.

They say they read PAGCor’s explanation…

“Despite being allowed to resume operations from June 2020, existing lockdowns, restrictions on business operations, bans on foreign workers entering the country and other epidemic measures have still prevented most operators from resuming operations. This has resulted in receivables.”

BY: 슬롯사이트