Goa could become a US$1 billion market once it transitions to a land-based market, said analyst Grant Govertsen in a note on Friday.
“We expect Goa to quickly become a US$1bn market as it transitions to land-based casinos (from $150 million today), which is still just a fraction of India's total GGR potential of $10 billion to $17 billion.”
The Union Gaming analyst published the note on Friday, whilst also announcing the brokerage’s coverage of Indian casino operator, Delta Corp starting today.
Govertsen said he expects Delta Corp to be the leading land-based player in the country, with 70 percent of supply share in Goa today.
“Delta is India's premier gaming operator with a dominant position in India's leading holiday destination, Goa (riverboat casinos), a leading presence in India's online gaming space, and significant and real (and under-appreciated) opportunities to transform India's casino gaming market into a regional powerhouse.”
“...we expect the ROI story on the company's ~$300 million Goa IR to be reminiscent of Sands Macao when it first opened,” said the brokerage.
Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.
ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264