Casinos business affected in Goa after currency demonetisation in India

By | November 13, 2016

Casino Business going down in Goa after currency Demonetisation in IndiaOffshore casinos operating in Goa are currently having a lesser footfall to their casinos after a demonatisation of high value notes by Indian Prime Minister Mr. Narendra Modi.

Narendra Modi, the prime minister of India hit hard on Wednesday by announcing that high value notes like Rs 500 and Rs 1000 will be no legal tender in India from Mid night of November 8, 2016.

He announced on Wednesday that these steps are taken to combat black-money, corruption, and terror-financing and counterfeit notes.

Since the Prime minister declared a war against black money, many casinos operating Panji, the state capital of Goa are recognizing that betting houses have hit a dead end and it will take some time to resume the business, after new currencies hit the market.

One of the popular Casino business operator in Mandovi, Goa said that “All our business is closed down”, people do not have money to place a bet and we don’t have any cash to pay them back either.

He said that most of the players are domestic tourists and from different Indian states like Delhi, Maharashtra, Karnataka, Andhra Pradesh, Utter Pradesh, Chandigarh and  other parts of india and they don’t have any cash with them.

Although debit and credit cards are accepted at most of the casinos in Goa, but it becomes very difficult when we have to make a payment to customers.

He said if a customer swipes his or her debit/credit card for Rs. 15,000 and loses Rs.5000 at the casino, and then he demands Rs 10,000 back, we don’t have such amount of cash to pay him back and that’s why people are going back from the casino without playing.

Another casino operator executive said “some people think that all the cash which is going through a casino is black-money and it should be go through using online transactions”, which is not true.

But he also hopes that everything would be fine in a few days. make sure to visit top usa online casinos if you live in united states and looking to play online slot machine.