The Indian State of Maharashtra presents an appealing opportunity for the gaming industry, said Global Market Advisors (GMA) in a research report released this week.
The report follows on from a white paper entitled “Gaming in India: An Evaluation of the Market’s Potential” which was released in April, 2016.
According to the author of the research brief, Kit Szybala Director of Research and Analysis at Global Market Advisors, “Maharashtra’s concentrated population and share of the Indian economy, the State of Maharashtra, and Mumbai in particular, present an appealing gaming market opportunity to the State of Maharashtra and the greater gaming community.”
The local market gaming potential was one of the main factors for this conclusion, with over 100 million people in Maharashtra – potential gaming patrons.
“GMA expects that these casinos will garner a majority of gaming revenue and demand from the
local market, which is expected to include the population living within five hours of Mumbai.”
GMA said the local market could generate around $874.9 million in gaming revenue in 2021, while
Maharashtra’s integrated resorts, should they be properly designed and situated, can expect to draw in foreign tourists as well.
According to GMA’s estimations, the foreign tourism market could generate up to $89.3 million in gaming revenue, and the domestic tourism market could generate $128.6 million in gaming revenue in 2021.
This in turn would lead to higher gaming tax revenues for the state, said GMA.
“If the State of Maharashtra were to employ a 25 percent gaming tax rate, the state could expect to receive approximately $273.2 million in gaming revenue in the subject year.”