15 years since the MV Caravella came to be moored in Goa’s river Mandovi, and the first off-shore casino in the country was launched with considerable fanfare, the industry has been in limbo.

The number of licences issued has been frozen at five since 2001 (excluding one that has lapsed), despite the State government receiving nearly 20 applications when it announced an open door policy to attract investors around the same time.

The Essel Group’s vessel Maharaja, 70 m long, completely refurbished and due to go into operation over seven years ago, still remains berthed in the river in suspended animation for want of a permit. This was billed to have been South Asia’s largest floating casino. The Caravella, which had been acquired on lease, has since been returned to its owner.

Currently, Goa is the only Indian state that has off-shore casinos, and presently, there are only two players in this business in the State.

Delta Corporation Ltd, a listed company that owns the Deltin brand, holds three licences, but as of now, operates casinos on two vessels – the Deltin Jaqk and the Deltin Royale. It could employ it on the Royal Flotel, but perhaps held back by the sensitive nature of the subject on hand.

The Pride group operates casinos on two other boats and it is estimated that ₹500-600 crore has been invested over the last few years to set up the infrastructure.

No solution yet

The clamour surrounding the issue has neither died a natural death, nor has a solution been found, so it continues to fester.

“Both parties need to sit across the table and find an amicable solution,” says Ashish Kapadia, MD, Delta Corp Ltd. He also emphasis the need for a regulator for an industry that sources say contributes over ₹200 crore annually to the State kitty through licence fees, entertainment tax as well as ₹ 500 for every passenger that comes aboard any of the four boats. An average of 900 people are estimated to be on board the boats any given day.

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