Delta Corp Reports Rise In Revenue For Third Quarter

Delta Corp, the most powerful and only listed casino operator in India, has announced its financial results for the third quarter of 2021, and the highlight of the report is the gross income of 5.5 million U.S. dollars (41.6 Crores).

The company’s gaming operations brought in 32.6 Crores, a significant increase from the 28.5 Crores that were reported for the second quarter of 2021. The figures recorded in the third quarter mark a solid recovery for the company, which had its operations suspended due to the Covid-19 pandemic during the same period of 2020.

There were some problems with restrictions related to the novel coronavirus pandemic in 2021 as well and some of the company’s facilities were only allowed to operate partially. In fact, Delta Corp announced that its floating casinos in Goa and their hotel and casino in Sikkim operated with only 50 percent of their capacity in April 2021. Moreover, some of the restrictions carried over into the next months as well.

Given the restrictions, Delta Corp made a plea with the government of Goa, seeking a waiver or at least a reduction mechanism for casino licence fees for the period of lockdown. The company paid 16.67 Crores in licence fees to the government of Goa over the past six months, even though its casinos/ were only allowed to operate with limited capacity or not at all.

Delta Corp is the only listed casino operator in India and it is engaged in live, electronic and online gambling as well. The company operates three offshore casinos in the state of Goa and the Deltin Suites hotel and casino in Sikkim. It has also acquired Gaussian Networks Limited, which operates the popular online poker site Adda52.com.

Last month, Delta Corp received approval from the Investment Promotion Board in Goa for its project to build an entertainment hub which includes a land-based casino in Pernem. The integrated casino resort that would be built in the city of Pernem would become the first ever land-based casino resort in this state.

Delta Corp announced that the entertainment hub would include hotels, a convention center, a multiplex cinema, shopping facilities, a water park and a large and luxurious casino.

The Pernem project is an important part of the company’s plans to transfer its whole offshore operations onshore. The new integrated resort would feature an “electronic casino”, given the still existing government ban on table games in land-based venues.

The government of Goa has also been looking to move the floating casinos from the Mandovi River to land-based locations. Delta Corp’s major investment could be a landmark for the gaming industry in the state, which would then be more likely to attract other similar investments.

Source: “Delta Corp gaming income improves in 3Q21, requests license fee waiver“. Asia Gaming Brief. October 12, 2021.