Delta Corp, the largest casino operator in India, has released its financial report for the third quarter of 2020 and the numbers are looking particularly grim. The company announced that its total revenue for the quarter was 460.5 million rupees (around 6.2 million dollars), which represents a drop of no less than 77.5% compared to the same period of 2019.
The reduced revenues led to a net loss of 549 million rupees for Delta Corp in the third quarter of 2020, a very different outcome than the profit of 590 million rupees that the company recorded in the same period of last year.
The financial results are largely due to the effects of the coronavirus pandemic, which led to all casinos in the states of Goa and Sikkim being closed for the entire third quarter.
Delta Corp Limited currently owns and operates six land-based casinos in India, including off-shore locations, and the company has also started investing in the online side of the casino gaming industry.
They have acquired Gauss Networks Private Limited, which operates the online poker site Adda52.com, and have developed another two online gambling websites, one featuring rummy and the other fantasy sports.