After conducting research into the gaming market in India, the Global Market Advisors LLC (GMA) has noted that India is “vastly underserved” in the casino market.
When looking at the Indian population, it has been estimated that by 2025, the casino market has the potential to be worth approximately US$10.2 billion. The numbers were reached when basing the casino industry on those who are middle class. However, since the country has only legalized gambling in a few locations, the market is not likely to reach its potential based on its current available casino gaming establishments.
Although India has a population of over 1.25 billion people, it has very few gaming tables available. There are only 730 tables when totaling the number available in India, Nepal and Sri Lanka. The number of slots that are available are even fewer than that.
Kit Szybala, the GMA’s director of research and analysis, commented on the gaming market in India and nearby countries: “The existing gaming markets in and near India generally offer an unattractive gaming product that could be easily and vastly improved. Other gaming destinations fail to adequately market or cater to the Indian gamer. Even so, Indians continue to demonstrate a proclivity for gambling, as many Indians frequent legal casinos domestically and seek out gaming opportunities abroad.”
With only three states, Goa, Sikkim, and Daman, offering legal casinos in India, the demand is certainly greater than the supply. It has recently been announced that a new casino will be opening in Sikkim. The new casino is likely to open its doors to the public in the next two to three months.
The new casino in Sikkim will be operated by Delta Corp, the same conglomerate that operates a number of the Goa casinos. The GMA representative said: “Indian gaming operators like Delta Corp and Pride Group, and non-Indian gaming operators like Silver Heritage already realize the potential value of the Indian gaming market. As such, they are currently positioning themselves to capitalize on the underserved market’s potential promise.”