India seen as potential goldmine, but regulation, under-investment curbing growth

India’s casino industry has not seen much progress over the past year and there are few indications that 2016 will bring any cheer, despite estimates of the country’s enormous potential and existing demand. Currently, licensed casinos are only permitted in two states in the country, Goa and Sikkim, where recent adverse regulatory announcements have dampened the enthusiasm of industry observers. On a brighter note however, there are proposals pending before a few state governments that may lead to progress in the next year or so.  Casinos also exist in neighboring Nepal (under a much improved regulatory platform) and Sri Lanka (despite recent political changes). India has a population of about 1.3 billion and a rapidly expanding middle class. The country’s economy is growing at about 7 percent per annum, while its tourism market is growing in tandem, with a 10 percent compound average growth rate in outbound travel and 14 percent...

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