Good Morning. An alarming increase in offshore lotteries is a major concern for many Indian states. Despite stern measures, offshore lotteries remain largely prevalent, writes industry insider Jaydeep Chakravartty. Suncity’s shell price was deemed too cheap. Macau still hopes.
What you need to know
- Crown Resorts will not be banking either on the junkets or on the high-end Mainland tourists for its casino business, CEO Ciarán Carruthers.
- Suncity’s – rebranded LET Group – take-over offer, at 23 times down the quoted price, was considered “highly undervalued” by the HKSE.
On the radar
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AGB Intelligence
INDUSTRY VOICE
India losing millions in tax on non-licensed offshore lotteries
An alarming increase in offshore lotteries is a major cause of concern for many Indian state governments as it causes revenue leakage from state coffers. Despite many stern measures taken by the state governments to prevent it, offshore lotteries remain largely prevalent, writes industry insider Jaydeep Chakravartty.
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