Goa casino market faces major growth

Credits: itsgoa.com
Credits: itsgoa.com

According to brokerage Union Gaming, casino gaming revenue is set to break the €800 million in the next few years after moving to land.

India.- The casino market in Goa is one of the most relevant segments in the Asian gambling industry and is soon to experience a major growth, according to Union Gaming. The international brokerage has projected casino gaming revenue to increase by 34 per cent and reach 818 million euros in the next few years after moving from the Mandovi river to land.

The firm evaluated the segment’s improved infrastructure and the growing acceptance of gaming in the country. Union Gaming analyst Grand Govertsen highlighted Goa’s potential should casinos be moved to land.

“We compare the Goa transition from riverboat to land-based, as like the Midwest riverboat transition story on steroids. We expect the government’s formal announcement early this year. We expect Goa to quickly become a [€818 million] market as it transitions to land-based casinos (from [€122.7 million] today), which is still just a fraction of India’s total GGR potential of [€8.1 to €13.9 billion].”

Mr. Govertsen said the move is an “already-government-telegraphed move” and added that “it will provide the highest levels of growth in the out years.”

Mopa would be the designated location to reinstall the gaming venues once the international airport is commissioned, with an announcement expected in the next few months. Nonetheless, the ships will still be operational and host tourism activities – a scenario that’s been included in the draft casino bill the government wants to release this month.

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