The biggest stock market investor and billionaire Rakesh Jhunjhunwala is considered to the partner of Casino Royale Goa gambling industry. He evaluated that India gambling will be legalized very soon in the country officially. However, the view on gambling is negative so it is hard to legalize in the nation. Since it is a kind of entertainment, he predicted that some changes might occur in the future. He gave a vigorous speech at the time of TiECON summit which happens in the location of Mumbai before a few weeks ago. In that speech, he gave a straightforward prediction regarding the gambling game in India.
As Goa state has approved the casinos and its related gambling games officially, likewise other states might also follow the official recognition soon to legalize gambling. He hoped that India will soon legalize various gambling games similar to Goa. Moreover, Jhunjhunwala revealed that there is a sparkling future in terms of the Indian economy. He stated that he expects that BJP will win over the Lok Sabha election which is going to be held later in 2019.
About Rakesh Jhunjhunwala:
Jhunjhunwala is an investor and billionaire who have been promoting the gambling game actively in India. Both he and his life partner seem to be a shareholder of Delta Corp. Lit, which is known to be the famous gambling industry in India. The couples have a 7.3% share in the company & hence act as a board of directions in it. The estimated net worth of Rakesh Jhunjhunwala is $2.7 billion because of his hefty investments.
His main motive is not only to develop the gambling industry in the home country but also carrying out investments in several other projects also. His most noteworthy investment seems to be Nazara Technologies, which is known to be the famous firm for development for casual and social games told us Livecasinoreports India. In addition to that, he said that gambling will get legalized soon similar to the alcoholic consumption which had been legalized officially. However, the authorities will take some time to legalize because it needs to be part of Indian people & then it turns to be a legal one.
There was a huge amount of confusion regarding the gambling game in India from the past few years. Some states avoided gambling because they consider it as a game of luck similar to the poker tournaments. Other than that, some state argued that poker game is based upon skill factor and it must not be banned in any situation. Due to these arguments, the agreement is not widespread in India so there is no gambling activity except in Goa State.
Legalization of Gambling Game in India
Most of the countries present all over the world have legalized gambling game but in India, it is not officially recognized. Rakesh Jhunjhunwala is spreading the popularity of casino games to the home country. He is known as chairman of Hungama Digital Media Entertainment Ltd and Aptech Limited. He also holds the position of the board of directors in numerous Indian companies like Praj Industries, Geojit Financial Services, Mid Day Multimedia Limited, Tops, Security Limited, Prime Focus Limited, Bilcare Limited, Biotech Limited, and many others
He is famously called as “King of Bull Market” as well as “Warren Buffett of India”. As of June 1, 2018, he is regarded as the 54th richest person of India according to Forbes. His network is calculated as USD 3 billion. When speaking during the TiECON summit which held in Mumbai city, he indicates that he adores gambling & the time is not much far for legalizing a casino in all states similar to Goa.
Prediction On Casino Legalization
One of the pioneering names in the stock market of India is undoubtedly Jhunjhunwala. He is not only a businessman and ace investor but also had immense love for gambling. Due to his love on gambling game, he strives hard to make casino as the legalized game in India. He also spoke to the media persons regarding investments. Moreover, he also suggested non-professional investors such as salaried person to invest through safe means like mutual funds.
Future India seems to be unpredictable from the point of the casino market. When India legalizes gambling game, then it will turn to be the largest gambling niche in the world in competition with Las Vegas and Macau. Thus, India will legalize gambling games and casinos officially. You need to wait for the official agreement to reach among all states.