India’s state of Maharashtra will be sitting on a US$1.09 billion gold mine by the year 2021 if it allows the establishment of land base casinos, an economic think-tank has predicted.

Economic research firm Global Market Advisors LLC (GMA) has expressed optimism that land base casino will thrive in this western Indian State, which covers the wealthy Mumbai metropolis, given the size of its population and due to its vibrant economy.

Citing a 2011 census, GMA noted that Maharashtra’s population was t 112.4 million or 9.3% of India’s total population. It is also considered as the largest urban agglomeration in India in 2011 with 18.4 million living within the urban agglomeration of Mumbai. On the other hand, approximately 45.2% of the state’s total population was urban.

The research further pointed out that the growing Indian middle class will fuel the state’s casino gambling, generating nearly US$10.2 billion annually by the year 2025. GMA estimated that 52 percent of Maharashtra’s population will be of gambling age in 2021.