New Casino Policy of Goa government can be a win-win for everybody: Jaydev Mody, Delta Corp
Recently, Owner of Delta Corp, Jaydev Mody said in a interview, “We are been taxed heavily and it is pretty difficult to grow in this situation but still we are doing well and growing both organically and inorganically. We have had 20% to 25% compounded growth for the past 10 years.”
He also said about the vision of this company that,”The Whole industry is about 10 years old and this is just the beginning and it has a long way to go. But a lot has to happen to make it a global kind of business, the most important one is taxation. If the government realises that there is a multi billion dollar business out there in gaming, it would all come into organised sector and the business can grow. It already exists. The Market is there.”
He also added, “We Started 10 years ago with one casino, then two and three. Then, we started a land based casino in our hotel which again added to our revenues. I do not see any reason why we cannot keep growing at that pace in future. The business is there and it will keep growing. We just need to keep innovating with time.
He also talked about the political sensitivity when it comes to Gambling in India, he added, “In Goa it has become part of the economy now. Goa does not have a lot of taxation revenue coming in from anything else other than tourism and casinos. It is a number game. We have an assured 4 to 5% margin and that is what we operate on and we run it like a business.”
He said about the new casino policy, “It Clearly makes sense politically because the CM has been asked by the people to get the ships moving out of the Mandovi. He thought the best thing would be to keep it Close to New Airport, so that rest of the states does not get affected. It is a Win Win for everybody, for the government, for the people and for the industry also.”
And lastly he also talked about the future of company in coming 3 to 5 years, “We Will have multi location casinos in Goa, Daman and Sri Lanka and maybe in Kathmandu (Nepal). The Game Changer might be the Casino Policy.