Recently, Delta Corp released a breakdown of its financial growth over the last quarter. This comes after it was allowed to reopen its venues in Sikkim and Goa. The growth in profit was absolutely staggering.
Delta Corp, one of the top gaming companies in India, really struggled through the height of the pandemic. Read on to see what their standing is now.
As with many industries, the pandemic hit the gambling sector hard. Covid-19 forced Delta Corp to close numerous land-based establishments over the past two years. Namely, the following three Indian venues suffered the most during the pandemic:
All three of the mentioned above venues are offshore casinos. This means they are not actually based on land. Rather, they operate from luxury cruise liners off the shore of India. This is to adhere to the Indian gambling laws.
Even though these venues aren't situated on land, they were still hit by Covid closures. The land-based casinos are truly the breadwinners for the group, even though they own numerous online casinos. As such, the closure of these shook Delta Corp. last year, the group only managed to pull Rs 97.51 crore ($13.2 million).
Delta Corp managed to pull through the past few years although faced with hardship. The company was able to make ends meet via its online presence during the pandemic. The online casinos and poker rooms offered by the group helped them stay afloat during quarantine.
The group's online presence was a true blessing since its land-based venues were all closed for the majority of last year.
Delta Corp currently manages the following three online venues:
Since the reopening of casinos last year, the group's profits have soared.
As previously mentioned, the group's performance for the previous quarter only brought in a dismal Rs 97.51 crore. However, this past December marked the beginning of a big boom.
This quarter report shows that the group's gaming business earned a gross income of Rs 249.65 crore ($33.8 million). Furthermore, the group grossed a further Rs 22.29 crore ($3 million) from hospitality. That is a 106% growth from the previous period.
When the land-based casinos reopened, the online offerings went down. In the last quarter, the online sector fell by 15.6%, bringing in Rs35.71 crore ($4.8 million).
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