Delta Corp. will build a casino resort in Goa
The only registered casino operator in India is Delta Corp. - plans to build an integrated resort (IR) in the state of Goa.
However, the company will not promote the project until the state government makes certain concessions in taxation and policies applicable to IR as a whole.
In the new integrated resort, it is planned to create a conference centre, a water park, a marketplace and, of course, a casino.
According to the chairman of the Delta Corp. board Jaida Modi, the company's plans, including the level of investment, are completely dependent on the coordination of political issues.
“Building an IR is a win-win for everyone: government, citizens, and business. This is an important, cost-effective step. I see no reason for the slowdown in the development of an integrated resort in the future. Business is set, it grows and develops. All that is required of us is to introduce innovations and maintain the quality of the services provided,” - Modi explained.
The government is considering a possible policy change that will allow floating casinos to occupy territories other than the Mondovi River. The most likely location will be a zone located near the airport of Goa, which will greatly facilitate international travel.
Delta Corp. owns three floating casinos in the region, and over the past decade, the average capital gains of the company ranged from 20 to 25%. Delta Corp. also owns property in Sikkim and recently applied for a license to build an integrated casino in the union territory of Daman. The parent company of the online gambling operator, Addd52, also plans to expand to Nepal.
One of the main problems with any expansion of the gambling business in Goa is the high tax rate. Modi stressed that casinos are “excessively taxed” and added: “The government is aware that the billionth business is concentrated in the gambling industry, but most of it is in the shadow. If we do not drive legal operators into conditions incompatible with the growth and development of campaigns, cooperation will be more than fruitful.”
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