What Delta Corp’s Re-Opening Means for The Indian Casino Market

Anil Panesar - Senior WriterAnil Panesar - 27 January 2022 in News

Delta Corp, the only listed Indian company that is engaged in the country’s gaming industry, recently announced a huge increase in earnings for the three-month period rounding off 2021.

Market analysts believe that this will have a positive impact on the Indian casino market which has been struggling since COVID19 reared its ugly head.

Delta Corp reported a 100% increase in earnings during the three months ending December 31st, 2021. The group saw $41.7 million in earnings.

These positive numbers were partly due to Delta Corp’s reopening of two of its main casino properties in Goa and Sikkim.

Key Features of Delta Corp. Financial Report

  • In the last three months of 2021, Delta Corp.’s gaming operations contributed gross income of $33.8 million. This signified an increase from $13.3 million in the same period last year.
  • Income from hospitality rose 106% to $3 million.
  • Delta Corp.’s online gambling operations did surprisingly poorly. Its online poker site, Adda52.com, online fantasy sports site, LeagueAdda.com and online rummy site, Adda52rummy.com saw total combined income drop 15.6% to $4.8 million.
  • Profit for the three-month period increased from $173K in the last quarter of 2020 to an impressive $9.5 million in the latest quarter report.

Things Starting to Look up for Indian Casino Gaming

Casino gambling came to a screeching halt in the first months of 2020, as the pandemic hit the world. Indian casinos were badly hit by local closures and lockdowns. International travel bans stopped the influx of tourists who would usually frequent the many gambling establishments around the year.

For the past two years, Delta Corp. was forced to close its casinos on an on-and-off basis, depending on local COVID19 restrictions.

In the summer of 2021 Delta Corp. reopened its Deltin Denzong Casino after months of shut-down due to a 55% increase in pandemic infections to nearly 20 million people.

A powerful vaccination programme introduced by the Indian government managed to stabilize this alarming infection rate and businesses adopted stringent public health protocols to keep the numbers down.

As a result, the local government in the Himalayan region where the Deltin Denzong Casino operates gave Delta Corp. permission to reopen the casino in the luxury Denzong Regency Hotel, as long as all safety precautions were adopted and implemented.

Players visiting this property were therefore once again able to play their favourite casino games such as blackjack, baccarat, roulette and poker.

Delta Corp. Has Big Plans Despite the Pandemic

Delta Corp. is one of India’s largest casino operators, with properties around the country.

It operates two of the country’s largest offshore casinos, namely the Deltin JAQK and the Deltin Royale. It also runs India’s only floating hotel that operates a casino onboard, the King Casino.

Delta Corp. is the only casino company in India to be listed on the National Stock Exchange of India.

In early 2020, Delta Corp. opened a casino at the Marriott Hotel in Kathmandu, Nepal.

Looking ahead, it’s full speed ahead for Delta Corp. as it plans new projects.

Late last year, the group got notice that its planned integrated resort development in Goa was granted approval by the Goa Investment Promotion Board.

Delta Corp. announced its integrated resort plans in December after receiving initial approval. The project will consist of hotels, a casino, a convention center, retail areas, a water park, and other business and entertainment facilities.

“The integrated resort is expected to be one of its kind in the country,” the company said. “The project is expected to boost tourism, employment and infrastructure of the state of Goa.”

Delta Corp. faces some obstacles before the resort gets final approval, including objections that the project is not in the interest of the Pernem people, especially the people of Dhargal village.

But it is expected that the group will be able to overcome these issues.

Delta Corp in India

Delta Corp. offers around 2,000 gaming positions throughout India and has also ventured into the online gambling space in recent years.

The company holds three of the six offshore gaming licenses issued in Goa.

Delta Corp. intends expanding its geographical footprint as it continues to set up operations in as many states as possible in India, where gaming has been legalized.

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