Sikkim Government Issues First Regular License for Online Gambling
In a recent major development, the Indian online gambling industry received an impetus with the grant of the first online gambling regular license for operations in India.
The Government of the State of Sikkim, which allowed online gambling activities with passing of the Sikkim Online Gaming (Regulation) Act, 2008 and the rules thereunder, has after a passage of 5 years granted the first regular license. The license has been granted to M/s. Future Gaming Solutions Private Limited, headed by lottery king Santiago Martin.
According to certain media reports, Mr. Kapil Khanna the CEO of Future Gaming confirmed the development and has indicated that the company proposes to launch its operations in the state soon. Future Gaming was the first entity to be granted the Provisional License under the legislation.
It is understood from media reports that the license that has been granted has several complex clauses and is highly ambiguous in nature. Sources close to the licensee indicate that Future Gaming proposes to launch online sports betting and online casinos, but is not very keen to offer online poker in the near future.
It is pertinent to note that the operations of Future Gaming would be restricted to the state of Sikkim, in light of the clarifications issued earlier this year by the Central Government. Presently, Sikkim might not have an extensive gaming market; however, with the operations now set to be offered online, the market can be expected to grow manifold.
With the grant of this license, it would be interesting to see the steps other Indian states initiate in this regard and follow suit, which may either be in the form of allowing online gambling in itself or executing an arrangement with the Sikkim Government allowing the accessibility to such activities from outside Sikkim.
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