Not for the first time it looks like casino developers are casting their gaze towards India as their next port of call. The fastest growing continent in the entire gambling industry has already seen the casino business boom in many of its corners. That eventually resulted in Macau becoming the biggest casino destination on the planet. Mumbai-based developer, Jaydev Mody, made the latest claims, telling news channel ET Now, “They all want to enter the Indian market.
“This is evident in the fact that business in Las Vegas is dipping and Macau today is the biggest casino destination in terms of top line.”
India has already seen the casino industry introduced in Goa and Sikkim with the former seeing revenue growth of 50% per year since 2008. Caesars followed this just last month by deciding to increase its presence in the country by opening a location under their hotel brand. Sheldon Adelson has even called out the country for their lack of casinos and the fact that they’re missing out on the gambling industry’s gourmet five-star curry.
The casino gambling industry is only one small part of what might shape India’s gambling future. Sports’ betting has long been all the rage with the masses and is largely down to the popularity of cricket. Government taxation or regulation is yet to take place and with an industry estimated to be worth around £1billion it’s little wonder there’s a clamour for regulation.
When Macau finally decides to grant casino license renewals it will have a large bearing on the industry’s growth in Asia as companies could look elsewhere. Whether this would help India it’s unknown. With a population the size that it is the country might not even need help from Chinese customers and could easily draw customers from its own territory.
