Delta Corp online operations thrive as casinos remain in lockdown By Hayley Grammer Online operating revenue from Indian gaming leader Delta Corp could overshadow the market cap of the entire company within the next two years, according to Union Gaming analyst John DeCree. 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. Delta Corp Limited, previously known as Arrow Webtex Ltd., is an Indian gaming and hospitality corporation that owns and operates casinos and hotels under several brands. It is India’s only listed company engaged in casino (live, electronic and online) gaming. Delta Corp Limited ('Delta Corp') is the only listed company engaged in the casino (live, electronic and online) gaming industry in India. We, along with our Subsidiaries, currently own and operate casinos in India, in the states of Goa and Sikkim, offering approximately 1,800 gaming positions.

The biggest casino operator in India, Delta Corp disclosed it has won the bid to build the first land-based integrated resort in Goa. Delta landmark move was unveiled on Friday.

The company disclosed to investors that it had gotten an approval in-principle from the Investment Promotion and Facilitation Board of Goa to build an integrated resort in Pernem which happens to be the northern part of the state. According to Delta, they stated that the venue can become one of its kind in the entire nation.

Some of the features of the resort are a convention centre, hotels, a multiplex cinema, a water park retail shopping, and, most importantly, an electronic casino. The thing is, the electronic casino is vital due to the current betting regulations in GOA which restricts live casino table games to the six floating casinos in the state.

At this time, Delta provided no timeframe for the time work will start regarding its new land-based resort neither did they state the time the facility will be open to the public.

Currently, the Goa operations of Delta is made up of 3 shipboard casinos and one land-based location at its Deltin Suites hotel which happens to be five-star.

For years, the government of GOA has made several proclamations to limit waterborne betting by mandating its casino licensees that are floating to bring their activities ashore. Previously, the government promised to build a dedicated gaming zone close to the Mopa airport which is under development in the Pernem area – even though the details of this plan are still sketchy and yet to be finalized.

Recently, GOA permitted its casinos to restart operations after prolonged shutdown necessitated by the pandemic. However, the restart hasn’t been going as planned. In November, local officials were clearly outraged at guests visiting the casino especially those that flagrantly disregarded social distancing and the requirements to wear masks.

Officials of Goa recently disclosed that police will now go with health inspectors on casino embarkation point trips with the promise that anybody that is caught breaking the medical safety measures would be pictured and heavily fined.

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That is not enough deterrent for some residents who became alarmed at the latest reports that several casino staff tested positive for the dreaded COVID-19 virus.

Some nearby states have reacted accordingly by stopping Goa residents from entering their states. This prompted Goa locals to voice out their concerns regarding why Goa had not carried out similar measures.

The answer to this is that the casinos at Goa are out of bounds to locals which makes them completely dependent on tourists.

Source: https://calvinayre.com/2020/12/14/casino/delta-corp-goa-integrated-resort-casino/

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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,

“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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