Goa Casinos To Generate $1 Billion In Gross Revenue, Says New Report

By superadmin
  • 0
  • 19 September,2018

With more and more exciting news coming in each week, 2018 may soon turn out to be the best year for the Indian poker community yet. A recent report states that gaming revenues generated from Goa casinos may soon reach $1 billion in the coming few years.

The Union Gaming Report

According to a latest study by Union Gaming Securities, an investment advisory organization headquartered in Las Vegas, casinos in Goa are set for a significant development in terms of GGR (Gross Gaming Revenue) if the state government authorizes the offshore casinos to set up operation on land in 2018. Grant Govertsen, Managing Director at Union Gaming Securities, believes that the revenues could easily reach the $1 billion mark provided the casino operations are permitted ashore. Last week Govertsen stated, “We expect Goa to quickly become a $1 billion market as it transitions to land-based casinos, which is still just a fraction of India’s total GGR potential of $10 billion to $17 billion.” Now this is surely some exciting latest poker news India.

The estimation is primarily based on the state government’s plan to shift offshore casinos to land. The state authorities have been dedicatedly planning to shift the floating casinos to a new location for past few years. The analyst further said “It is the already-government-telegraphed move to land-based operations in Goa that will provide the highest levels of growth in the coming years. We expect the government’s formal announcement early this year. The introduction of the country’s first true integrated resorts should result in expansive growth in gaming revenue given significant pent-up demand for a high-quality gaming/entertainment experience.”

Delta Corp: Leading the Market

The United Gaming report also estimates that Delta Corp Ltd., which operates its casino at the Deltin Suite, will act as the dominant factor in the state’s transition to on shore gambling. Delta Corp currently holds over 70% supply share in Goa. Experts believe the firm will effectively hold their lead in the market and will even boost their influence when the transition to land-based gaming is finally complete.

Govertsen said, “Delta is India’s premier gaming operator with dominant position in India’s leading holiday destination, Goa. Delta, with a 70 percent supply share of Goa today will be the leading land-based player. We expect the company to not only maintain this dominant market share, but to grow it as it leads the transition to land-based gaming in Goa.” He believes that the company’s revenue will increase to 34 per cent in 2018 due to better infrastructure and growing popularity of gaming in India.

We surely hope the Goa government follows through its plan of shifting off shore casinos to land as the analysis shows this will only result in expanding the market but also lead to higher revenues for the operators as well as for the government.

We will keep following this story and keep you updated as always. So keep following Poker Indian Group for the latest poker news daily.