Update on proposal for allowing casinos in Mumbai

Update on proposal for allowing casinos in Mumbai
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Local Press Co 5-point Snippet

1. The state home department, in a meeting last week, discussed the proposal for allowing offshore casinos in Mumbai in a bid to boost international tourism and reap revenue benefits.

2. According to a DNA report, the meeting was attended by relevant stakeholders, including officials from Maharashtra Tourism Development Corporation (MTDC), Department of Tourism & Culture, Revenue etc. The report also mentions that the proposal for allowing offshore casinos in the maximum city can likely be passed as early as end of this year, albeit on a trial basis.

3. While talking to the leading daily, Vijay Satbir Singh, principal secretary, home department said, “As the first step, we have initiated a study into the implementation of the existing Acts in Sikkim and Goa – the only two states in India where casinos are allowed. The study will look into the revenue and tourism impact of starting casinos. Based on these findings, we will discuss the matter with our seniors and proceed accordingly.”

4. It is estimated that casinos can generate an annual estimated revenue of Rs 3000 crore, 25 percent of which will go to the Maharashtra state government as per the provisions under the Casino Act of 1976.

5. The proposal for allowing casinos is expected to be speed tracked as the state government is under obligation from the Bombay High Court to finalize the 40 year old casino act since October 2015.

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