Playwin targeting Rs.50 bn turnover

September 6th, 2008 - 4:41 pm ICT by IANS  

Mumbai, Sep 6 (IANS) The Essel Group-promoted gaming company Playwin Games is hopeful of generating a turnover of around Rs.50 billion ($1.16 billion) this fiscal, a top official said here Saturday.”There is a major boom in this sector with growth in Internet mobile technology,” Amar Sinha, CEO of Pan India Network Infravest Ltd, which runs Playwin, told IANS.

With ever increasing growth, Playwin is planning to introduce ‘Jackpot at lotto games’ all over the country with a prize money of around Rs.20 million. These games would be launched in January next year, he said.

According to Sinha, the legal lottery operations in India are estimated at Rs.250 billion, while the illegal market generates an additional revenue of Rs.250 billion.

“The government will soon set up an authority like Securities and Exchange Board of India (SEBI) to regulate the lottery market,” he added.

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