The majority owner of Las Vegas Sands wants India to enter the gambling resort business so as to tax revenue escaping to online casinos and illegal gaming operations. Sheldon Adelson has been pursuing the development of a gambling strip similar to Las Vegas or Cotai somewhere in India for over two years, but has been rebuffed by the government. Adelson says he'd like to open an upscale casino complex like the one he operates in Singapore either in Mumbai, New Delhi, or another large Indian city. He emphasizes the casino would target middle-and upper-class citizens, and would be far removed from the underground gaming venues popular throughout the country.
“There are thousands of underground gambling holes, people bet on cricket, horses, so why not use it as a legitimate source of income and employment, coupled with world class spas, restaurants, ballrooms,” said Adelson in a statement.
Adelson asserts the Indian government is allowing billions of dollars to move untaxed while the government ignores the gambling issue. The Venetian Macau, owned by Las Vegas Sands, features a sizeable Indian contingent among its guests.
Adelson expects the new Singapore Marina Bay Casino will also rely on Indian customers as a major part of its base. He said a resort casino would keep revenue from traveling out of the country or exiting when played at online casinos.
Published on June 22, 2010 by A.J.Maldonado
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