Goverment Authorities Take A Close Look At The Casino Industry in Goa

The casino industry in the Indian coastal state of Goa is coming under the microscope in recent months. Reports say that the once thriving casino industry here is now under threat of going bankrupt. In addition to the issue of offshore casinos going bankrupt, there is an issue of whether to bring the casinos on land or ban them completely from the state.

Manohar Parrikar, who serves as the chief minister of the state of Goa says that the issue regarding the offshore casinos will be carefully reviewed under the Daman and Diu Public Gambling Act of 1976. It is important to point out that the Indian state of Goa is one of the few states in India where gambling is legally allowed. Many Indians now flock to Goa precisely because of the legal gambling industry there. The state has even been compared to being the Las Vegas of India because of its numerous casinos.

There have also been several major developments in the Indian legislature that could have a major impact on the casino industry in Goa. One of these was a proposal that would ban cash transaction in casinos. Another would be identifying money at casino tables a loophole. If these proposals went through, they would most likely kill the casino industry that now exists.

Another development in the Goa casino industry is that five existing offshore casinos would be relocated inland in the next three years. This decision was reached in July by the state assembly of Goa. It is important to point out that for a long time, there has been a strong push to shut down offshore casinos in Goa. Many political parties including the present ruling Bharatiya Janata Party have called for the closure of casinos in Goa. The casinos have been attacked for being a corrupting influence and creating gambling addicts.

The issues of Goa’s casino industry going bankrupt is giving a second thought to both government officials and the companies operating the casinos. Present rules prohibit land based casinos in the state of Goa from having live games. This is when a dealer actually hands out cards for you to play a gambling game such as blackjack. The land based casinos are only allowed to have electronic games such as slot machines.

These rules are why they are so many offshore casinos located off of the state of Goa. They are the only place where you can play in live gambling games such as blackjack and poker. Recently, the local legislature in Goa said that the offshore casinos could be relocated to a special entertainment zone. This would presumably mean that the restriction on live gambling would not apply to them and they could continue with live gambling as they do offshore right now.

Whether the offshore casinos do indeed relocate onshore or not remains to be seen as the entire industry is now at risk of being bankrupt. If the casinos are deemed unprofitable, then this might just be the end of the casino industry in Goa both onshore and offshore.