Sunday 23 October 2016
17 December 2012 Business Outlook Business

Raising The Stakes

Goa’s casinos are flush with cash as the weak rupee lures gamblers to India

Sanjay Sinha lives in Singapore and works in an investment bank. He spends his vacations in Macau, where he unwinds by playing poker. For the Christmas break, though, he headed to Goa where casinos are legal and very cheap. “The rupee is now so weak that it makes sense to head to Goa. Before I set off, I decide the maximum I can lose. In rupees that sum allows me to play 40% more than I could in Macau or Singapore,” he says.

In its Global Gaming Outlook Report for 2011, PriceWaterhouseCoopers (PwC) says that Asia will overtake the US as the world’s largest casino market. This is due to growing incomes and logistical and regulatory support. Recent examples of this include a railway that connects Macau with Guangzhou, which has boosted traffic from the mainland.


Going forward, Macau and Singapore will fuel growth in Asia. By 2015, the Asian market will reach $79.3 billion from $34.3 billion in 2010, an 18.3% compounded annual increase, says PwC.

In India, gambling is relegated to Goa, Sikkim and Daman. In 2011, casino owners in Goa reported the highest booking ever owing to the sharp depreciation of the rupee. Delta Corp, the only listed casino entity, which runs four casinos in India, recorded a revenue of Rs 27.8 crore in Q1 of FY12, a quarter-on-quarter growth of 40%.

Falling Flat “Sometimes, Not Taking A Risk Is The Biggest Risk”
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store

Post a Comment

You are not logged in, please Log in or Register
  • Daily Mail

More than a decade after India first started the procurement process, it has finally inked an €8bn agreement to buy 36 Rafale fighter jets from France’s Dassault. The original deal was to buy 126 Rafales to replace the accident-prone Russian MiG-21s. Ultimately, the government offered to buy only 36 ready-to-fly planes.

POLL STARTED ON: Sep 26, 2016
Brazil’s Rio de Janeiro is hosting the 31st Olympic Games from August 5 to 21. This is the first Olympics being held in South America and is going on even as a majority Brazilians are unhappy with their rulers. Here’s a quiz on some random Olympic facts and related trivia.
QUIZ STARTED ON: Aug 11, 2016