Delta Corp Casino News
Delta Corp share price declined 8 percent intraday on March 17 after the company closed its casinos in Sikkim to combat the outbreak of Covid-19. As a precautionary measure in view of the spread.
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- Reportedly read a statement from Delta Corp Limited “This integrated casino resort is expected to be one of its kind in the country.The project is expected to boost tourism, employment and infrastructure in the state of Goa.”. Gradual growth: Delta Corp Limited furthermore reportedly runs the popular Adda52.com online poker and rummy domain after acquiring iGaming operator Gaussian.
- Delta Corp, the largest and the only listed company engaged in India’s casino gaming industry, surged nearly 11 per cent to Rs 120 on the announcement of casino reopening in Goa and Sikkim from.
- A subsidiary of listed gaming company Delta Corp Limited, Daman Hospitality Private Limited, on December 13 submitted a writ petition in the Bombay High Court asking the court to direct the Union Territory administration to grant a casino license to the company under Section 13A of the Goa, Daman and Diu Public Gambling Act, 1976.
- Delta Corp Ltd ended at Rs 250.35 down by Rs 47.9 or 16.06% from its previous closing of Rs 298.25 on the BSE. The stock traded below its 50 DMA on account of the fact that the government has revised the fee structure for onshore as well as offshore casinos, applicable starting April 1, 2018.
Indian gaming and hospitality firm Delta Corp Limited has reportedly announced that it has been granted provisional approval to build and operate a new land-based integrated casino resort in the small state of Goa.
According to a report from Inside Asian Gaming, the Bombay-listed operator is already responsible for a trio of Goan riverboat casinos encompassing the Deltin Jaqk, Deltin Royale and Deltin Caravela vessels. The source detailed that the conditional consent from the Goa Investment Promotion and Facilitation Board will allow the firm to begin plans to construct a Las Vegas-style venue in the former Portuguese enclave featuring multiple hotels as well as a slots-only casino, convention center, cinema, water park and retail outlets.
Coming concept:
Delta Corp Limited also runs the land-based Deltin Denzong Casino facility in the northeastern Indian state of Sikkim and reportedly revealed that it is hoping to site its new development near to the banks of the Terekhol River in the northern Goa city of Pernem, which lies approximately 35 miles from Goa International Airport.
Reportedly read a statement from Delta Corp Limited…
“This integrated casino resort is expected to be one of its kind in the country. The project is expected to boost tourism, employment and infrastructure in the state of Goa.”
Gradual growth:
Delta Corp Limited furthermore reportedly runs the popular Adda52.com online poker and rummy domain after acquiring iGaming operator Gaussian Networks for around $22 million in 2016 and began this year by receiving official permission to bring a land-based casino to the Marriott Hotel in the Nepalese capital of Kathmandu. The operator moreover purportedly spent roughly $2.33 million in October so as up its in Goan footprint via the acquisition of a 45% stake in local shipbuilding a maintenance firm Waterways Shipyard Private Limited.
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On Saturday, Delta Corp Ltd. announced that they have received in-principle approval from the Goa Investment Promotion and Facilitation Board to set up a new resort in the state. The resort is set to be situated in pernem and it will consist of several hotels, convention center, multi-screen cinema, retail area, water park, plus an electronic casino.
Also Read: Delta Corp Limited to run casino in Nepal
The company released a statement that said,
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“The integrated resort is expected to be one of its kind in the country. The project is expected to boost tourism, employment and infrastructure of the state of Goa,”
Delta Corp shares closed up 3.16% on the news, which will be a small boost to investors. In the latest quarter on a consolidated basis, Delta Corp reported a net loss of Rs 54.91 crore in Q2 September 2020 compared with a net profit of Rs 59.04 crore in Q2 September 2019. Net sales plummeted to Rs 38.37 crore in Q2 September 2020 over Q2 September 2019.
The land-based revenue for the company dried up with the closure of casinos at the start of the coronavirus pandemic. Analysts will be closely looking at the next quarter of results which should show decent growth with casinos in India back open since November 1.
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