Analyst Grant Govertsen, who works for the Union Gaming Securities Asia Ltd., believes that casino industry in the Indian state of Goa could be worth over $1 billion in terms of gross gaming revenue. United Gaming compares the Goa transition from riverboat to land-based gambling venues to the Midwest riverboat transition on steroids.
When investors proceed to creating land-based gambling venues in the Indian state of Goa, this will lead to an extreme growth in the industry. The industry is expected to experience a skyrocketing growth, reaching $1 billion. What is more, Mr. Covertsen says the introduction of the first integrated resorts should result in the expansive growth of gaming revenues.
United Gaming said in their latest memo that gambling industry in India is just now taking its baby steps. Investors and analysts worldwide expect to see a rapid growth in the industry when Goa shifts from riverboat to land-based gambling venues, growth which will be partly driven by economic factors and is said to lead to the improvement of national infrastructure and greater acceptance of this kind of entertainment.
The Most Valuable Player in Goa
United Gaming speculate that Delta Corp Ltd. will be the leading participant in Goa’s transition to land-based gambling experience, as the company owns more than 70 percent supply share of the state. Analysts believe the company will not only maintain their leading position, but even expand their influence as they pave the way for land-based gaming in the state of Goa.
In fact, Delta Corp already proceeds with a plan designed to establish a land-based gambling and entertainment venue in the Indian state. Sources say the company plans to acquire land not far from the new airport in Goa which is currently under construction.
Delta Corp is a big fish in the gambling industry in India. And once they acquire a gambling license to operate in Goa, they will expand their influence even more – this will make Delta Corp the only company operating in all three states where gambling is legalised – Goa, Sikkim, and Daman.
The South India gambling entrepreneur Delta Corp’s latest earnings have shocked investors worldwide. This Monday the company revealed their fiscal Q3 growth results covering a period from October to December 31, 2017. The net revenue of the company has skyrocketed to INR1.62 billion (US$25.3 million). The gains are 57% higher than those from Q4 data results of 2016. After-tax revenues have reached the considerable price of INR447 million.
The success of the Indian gambling tiger gave investors the solid ground to propel the company’s shares to record prices. Thus, while stock prices of leading real estate companies have dropped down rapidly, stock prices of Delta Corp Ltd. have skyrocketed. At present, Delta Corp’s stocks are being sold for INR329.25 – with an increase of 3.62 percent.