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