Allowing on-shore casinos in India’s second most populous state could earn the government up to $277 million in annual revenues off total takings of gross approximately $896.34 million.
According to a report on Asia Gaming Brief, the figures came from the Maharashtra Tourism Development Corporation during a high-level meeting to discuss the possibility of legalizing on-shore casino gambling in the state.
Maharashtra with its capital city Mumbai is India’s third largest state by area but contains almost 10% of the Asian country’s population at 110 million.
In the meeting, the Maharashtra Tourism Development Corporation declared that it calculated the figures on the assumption that any casinos located along the state’s western coast or in Mumbai would typically see locals comprise 25% of any player pool with the remainder consisting of foreign tourists.
“A certain percentage of this turnover, maybe around a 25% tax, makes up to $277 million a year for the public exchequer,” said an official from the Maharashtra Tourism Development Corporation.
Officials declared that a recommendation on whether to permit land-based casinos is likely to be made only after issues including licensing, revenue generation and security are addressed although the final decision will rest with Chief Minister Devendra Fadnavis from the conservative Bharatiya Janata Party (BJP).
The state government was prompted to discuss the possibility of legal on-shore casino gambling after law student Jay Satya filed a public interest litigation action in the High Court seeking the implementation of the Maharashtra Casinos Control And Tax Act 1976.