Lottery tickets to chargesheets: Story of Future Gaming
Business Standard|March 16, 2024
Future Gaming and Hotel Services, a little-known Coimbatore-based company, has emerged as the biggest buyer of electoral bonds.
SHINE JACOB
Lottery tickets to chargesheets: Story of Future Gaming

The $2 billion gaming company purchased electoral bonds worth ₹1,368 crore between April 2019 and January 2024, according to data shared by the Election Commission of India (ECI) on the orders of the Supreme Court.

While the names of Future Gaming, earlier known as Martin Lottery Agencies, and its founder Santiago Martin came as a surprise to many on Thursday, they are no strangers to controversies. Their story is nothing short of a Bollywood movie. A tumultuous tale of the meteoric rise and fall of a company, a rags-to-riches story of its owner, who started as a labourer in Myanmar before shifting in 1988 to Tamil Nadu where he started his business in 1991 and metamorphosed into the 'Lottery King' of India.

The company reportedly donated ₹150 crore in 2020-21, ₹544 crore in 2021-22, ₹328 crore in 202223 and 341 crore in 2023-24.

During these years, the company's maximum profit before tax (PBT) was reported at ₹84.79 crore in 2020-21, while in all other years, it posted a PBT of over 82 crore.

Esta historia es de la edición March 16, 2024 de Business Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.

Esta historia es de la edición March 16, 2024 de Business Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.

MÁS HISTORIAS DE BUSINESS STANDARDVer todo
Al, Cloud, Super App: Adani Group To Bet Big On Tech
Business Standard

Al, Cloud, Super App: Adani Group To Bet Big On Tech

Planning to utilise sectoral data and train Al models

time-read
1 min  |
May 29, 2024
High Vegetable Prices Raise The 'Heat' In Election Season
Business Standard

High Vegetable Prices Raise The 'Heat' In Election Season

Food inflation has emerged as one of the main talking points of the ongoing Lok Sabha polls.

time-read
1 min  |
May 29, 2024
India, Vietnam To Gain From 'China+1': Nomura
Business Standard

India, Vietnam To Gain From 'China+1': Nomura

Bets big on RIL, BEL and Exide stocks

time-read
2 minutos  |
May 29, 2024
Millennials, Gen Z Driving Demand For Luxury Car Rentals
Business Standard

Millennials, Gen Z Driving Demand For Luxury Car Rentals

Mumbai and Delhi witness fastest growth in demand this year at 35% and 40%, respectively

time-read
3 minutos  |
May 29, 2024
Business Standard

Using private car as cab can lead to claim rejection

Insurance companies are trying to simplify the motor insurance claims process.

time-read
2 minutos  |
May 29, 2024
Business Standard

Retail investors make bold bets in derivatives markets

Delhi, 28 May Retail investors seem to be making bold bets in derivatives markets a few days ahead of the Lok Sabha poll outcome.

time-read
2 minutos  |
May 29, 2024
Business Standard

Q4 showing, valuations to keep Bosch under stress

Auto component major Bosch posted a subdued performance in the March quarter leading to the selloff.

time-read
2 minutos  |
May 29, 2024
Business Standard

India Vix hits two-year high

Indian equity benchmarks ended with losses for the third consecutive day amid elevated volatility ahead of the Lok Sabha election results on June 4.

time-read
1 min  |
May 29, 2024
A quantum leap: MFs dive into quant theme
Business Standard

A quantum leap: MFs dive into quant theme

3 fund houses lead the charge with offerings in this space

time-read
2 minutos  |
May 29, 2024
Metal firms yet to deliver on hope
Business Standard

Metal firms yet to deliver on hope

Though buoyant on bourses, their earnings, sales have lagged overall listed universe in past 2 yrs

time-read
3 minutos  |
May 29, 2024