16+ CR GTD
Header banner - Calling Stn
Pokersaint - Lead
Rakesh Jhunjhunwala predicts pan-India casino legalization Gambling

Rakesh Jhunjhunwala predicts pan-India casino legalization

by Team Gutshot Posted on 08 Feb, 2019

One of the leading names in the Indian stock market industry is undoubtedly Rakesh Jhunjhunwala. The ace investor and businessman is currently the largest individual investor in the domestic equities market. The Economic Times referred to him as the ‘Pied Piper of Indian bourses’.

Jhunjhunwala said that gambling and casinos would soon be legalized all over the country while speaking at the TiECON Summit at NCPA Grounds, Mumbai, on 7th February. He stated his love for gambling and forecasted that there is little time left before India legalizes casino operations within the country, as with Goa.

Jhunjhunwala also spoke about investments, his bread and butter, and advised non-professional investors like the salaried class, to invest through safe and secure means of mutual funds and advised them to keep aside not more than 10 percent for personal investment.

Jhunjhunwala has been quite bullish when it comes to gambling and gaming sectors, believing in its burgeoning market. He, along with his wife Rekha, have substantial investment in Delta Corp Ltd, the parent company of the famous Deltin Royale in Goa, among others, and the owner of the online gaming site Adda52. The couple owns around 7.3% stake in Delta Corp and are among the board of directors in the company too.

Jhunjhunwala had also invested INR 180 Crores in the Mumbai-based Nazara Technologies, showing his complete belief in the growth of the gaming sector in coming years. The Mumbai-based company also made some headlines following the investment, like buying a major stake in another multimedia company called Nextwave and its expansion into Africa.

He also offered his valuable insight into the start-up scenario in this country. He said that he generally avoids investing in start-ups as he thinks that “though many of them talk about innovation, there is little uniqueness in them and many of them are like ‘me-too’ companies.

Lastly, he playfully equated long term investing to a wife and short-term share trading to a mistress and recommended investors to keep both happy. IT Industry expert and former Chairman of Infosys Mohandas Pai also supported casinos and recommended the Singapore model for Goa, speaking at a function in Goa recently.

In opposing news, recently, Goa’s Tourism Minister, Manohar Ajgaonkar replied in negative to a question posed to him in the Assembly regarding the possibility of new casinos in the state. However, the overall industry is seeing an increase in terms of revenue generated and the trend doesn’t look like it will stop for a few biased politicians’ opinions. Keep reading GutshotMagazine.com for more industry updates and news and for general gaming news from around the world.

poker rooms slim

Check out our online poker rooms section, where you can read reviews on the biggest and best poker rooms in the country, while also taking advantage of their bonuses and promotions. Check out these top poker rooms HERE.



Comments

Your email address will not be published. Required fields are marked *

Dangal box

Top 10 Poker Rooms

  • Calling Station
    Calling Station

    Instant withdrawal; Use “RELOAD20” on deposits for 20% locked bonus
    Offer: "GUTSHT" Register

  • 9stacks
    9stacks

    Instant withdrawal; 100% locked bonus on first deposit
    Offer: "9GUTSHOT Register

  • PokerSaint
    PokerSaint

    60-seconds withdrawal; 100% locked bonus on first deposit
    Offer: "GUT100" Register

  • Poker Dangal
    Poker Dangal

    INR 500 Free on sign-up; (120 Locked, 330 Ticket, 50 Instant)
    Offer: 150% on first deposit up to INR 5,000 Register

  • Natural8
    Natural8

    Sign-up code "GUTSHOT"
    Offer: 200% bonus up to $500 or $100 in instant rewards Register

  • Pocket52
    Pocket52

    NA
    Offer: NA Register

  • Poker Tempo
    Poker Tempo

    Verify KYC with "FREE100" to get Rs.100 FREE on sign-up
    Offer: "WELCOME500" - First deposit bonus of 150% + 1 Lakh GTD Register

  • PokerStars India
    PokerStars India

    Deposit Rs.500 and get First Deposit Bonus of Rs.2,500 + 5 tickets to Depositor Freerolls
    Offer: "IMIN2500" Register

  • Spartan Poker
    Spartan Poker

    Sign-up with "GUTSHOT"
    Offer: "GUT300X" to get 300% on your deposit Register

  • BLITZPOKER
    BLITZPOKER

    Sign-up with "GSBLZ"
    Offer: NA Register

BSU box banner

Want to share your thoughts about poker?

Then click the button to submit your article.

Facebook + Follow

Instagram + Follow

Pocket52 1 Lakh freeroll

Pocket52 1 Lakh freeroll