A very Bright chances why MR FM will do a major amendment in INDIAN CASINO LAW :Mellon Capital

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 IF it happens FM will have free hands to STT cut, 3 lac limit to
individual tax payer and many more things that will make this
Budget a BIG BANG budget of 2012.
 Sri Lanka plans to introduce new laws this year to attract
investments from casinos and hotel chains abroad. While Sri
Lanka already has a thriving local casino industry, the
government believes that laws permitting foreign investment
in gaming will stabilize the sector and entice international
gaming developers.
 Casinos generate huge revenues for the government via
licensing fees and taxation. In 2006, the size of the
international casino business was over USD $70 billion and
North American casinos can be credited for having generated
about half the total amount. In 2007, Macao in China
recorded about USD $10 billion in revenues through casino
games. Additionally, Internet casinos, which have proliferated
recently, is said to generate more than USD $15 billion.
 Casinos in Pennsylvania have generated enormous revenues
in 2011. One of the reputed casinos brought in more than
USD $32 billion. In the state, revenues increased nearly 14%
and reached USD $199 million, and generated over USD
$108.3 million in the form of tax! Macau casino revenue hit
USD $33.5 billion this year. Las Vegas brought in USD
$482.7 millions in January 2011.
 Casino gaming also has had a great impact on the tourism
industry. In fact, tourism in Las Vegas, which saw a total of
34,450,600 visitors in 2010 and over 37 million in 2011, is a
frequented tourist destination owning to the Strip, on which its
casinos are located. The tourism industry in Macao (China),
Monte Carlo (France), Sun City (South Africa) owes
massively to casino gaming.
 Singapore which saw casinos come up two years ago, after
an intensive debate, is set to overtake Las Vegas in gaming
revenues. Its growth in 2010 of 15 % was attributed largely to
its two huge multi-million dollar casinos. Both casinos cum
hotel developments have become must visit places for
tourists arriving in Singapore.
 Some nations have encouraged the growth of casinos to attract
international tourists. For instance, Gold Coast casinos in Australia have
successfully attracted South East Asian players. Most nations across the
globe, except Asia, have softened their attitude towards casino gaming.
Not only this, they have used casinos to address several economic issues,
including the generation of revenues, enhancement of foreign exchange
and creation of jobs. Some countries have even managed to combat
illegal gambling functions by legalizing casino gaming.
 So, why is live gambling outlawed in India? Indian tourists frequent Lanka
and Nepal to enjoy gaming activities. By introducing a licensing policy in
various states, like Goa and Sikkim, a tremendous amount of black money
deals and criminal activities can also be curbed. Why can’t we take
inspiration from the UK’s Gambling Act of 2005? After all, it lays down a
regulatory framework for all types of gambling, including the use of mobile
phones, televisions and the Internet. A provision for the gaming industry
can solve a lot of our economic and social problems.
 Enough said about economies of casinos. Benefits of bringing over
ground, an activity which, because it is illegal, remains in hands of mafia,
are obvious. The benefits of having Indians staying in India to gamble,
instead of going to Nepal and other countries, are obvious. However, the
real benefit is in recognition of human freedom – adults should be free –
free to do as they wish, if they are not harming anybody other than
themselves. Let adults have a choice to gamble, if they wish.