Gaming authority William Bonar accentuated the potential of India’s gaming sector while cautioning against regulatory impediments and legal intricacies impeding its progress. Despite the obstacles, the adviser maintains a positive outlook, drawing comparisons to Macau’s initial potential in the early 2000s.
After a recent visit to the nation, William Bonar emphasized in an interview with Asia Gaming Brief the escalating sophistication of India’s gaming panorama, surpassing some of his anticipations.
“Gaming in Goa is captivating both on aquatic and terrestrial fronts. I found it to be more advanced and well-administered than I expected, exhibiting commendable self-governance,” Bonar remarked.
Nevertheless, the adviser promptly underscored the regulatory barriers and legal complexities impeding the industry’s advancement.
For instance, the gaming industry in Goa faces restrictions on the number of floating online casinos permitted. Despite this, operators have expanded their existing operations by augmenting the dimensions of current casino vessels to encompass more tiers of gaming and entertainment.
One of the primary hurdles highlighted by Bonar is the taxation framework, which he perceives as a substantial encumbrance on industry expansion. “India ranks among the highest-taxed nations globally, impeding the industry’s growth.
“Enterprises must devise strategies to diversify their operations to achieve efficiencies while adhering to government regulations,” he elucidated. This apprehension mirrors the fiscal limitations encountered by operators universally, albeit mitigated by self-reporting and self-governance inherent in the regulatory framework.
“There exist, undoubtedly, regulatory impediments and a convoluted legal framework that might impede casino games growth in India in the short run. This scenario might ameliorate post-elections,” Bonar added.
India’s 2024 general election spans over six weeks from April 19th to June 1st, with Prime Minister Narendra Modi aspiring to secure a third consecutive term.
Concerning regulatory enforcement, Bonar acknowledged the presence of rules and regulations governing casino operations, albeit with scant enforcement. “There are established rules and regulations for casino operations and gameplay. Enforcement is limited; nevertheless, operations undergo physical audits, fostering equitable gameplay for all stakeholders.”
This scenario underscores the intricate interplay between regulatory oversight and operational strategies within India’s gaming sphere.
To conclude, the adviser’s insights illuminate both the promise and challenges confronting the casino industry in India, furnishing invaluable perspectives for stakeholders navigating this dynamic market.
Despite these challenges, Bonar remains sanguine about the industry’s potential, drawing parallels to the visionary proclamations of the late casino magnate Sheldon Adelson, who “envisioned gaming in Goa as the next ‘Macau.’”
“This juxtaposition underscores the transformative potential within India’s gaming domain,” he remarked.
