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.
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.
Signup with "GUTSHOT" and get $2 FREE
Offer: 200% bonus up to $1,000 or $100 in instant rewards on first deposit
Sign-up with Gutshot
Offer: Get ₹100 FREE
Sign-up code: GUT100
Offer: Get ₹50 FREE Bonus
Offer: Get ₹50 Sign-up Bonus FREE
Sign-up code: NA
Offer: Get up to 50% Rake Back on PLO Tables
Offer: Deposit ₹100 using code 'SHIP200' & Get Up To 200% Bonus
Sign-up with code "GUTSHOT"
Offer: Welcome Bonus - 100% upto $600
100% Bonus On 1st Deposit
Offer: Use Code: GUTSHOT
Sign Up and Get ₹1000 FREE (₹250 Instant)
Sign-up with "GUTSHT"
Offer: Get FREE Rs.100 (50 Instant & 50 Locked)
Sign-up with code PHGUTSHOT
Offer: Get 100% Bonus on First Deposit using code GSFTD
Use code: WELCOME1000
Offer: Get ₹1000 Bonus
Sign-up with "GUTSHOT"
Offer: Get FREE Rs.100
Use Code: GSMAG
Offer: Sign Up And Get ₹100 FREE
Use code GUTSHOT
Offer: Sign up and get ₹50 FREE
SUBMIT YOUR ARTICLE
SUBMIT YOUR ARTICLE