Delta Corp Ltd, India’s only listed gaming company, reported consolidated income from gaming operations for the July to September period was INR1.24 billion (US$18.5 million). That was an increase of 45.8 percent year-on-year.
The firm said in a Tuesday filing to the Bombay Stock Exchange that comprehensive net profit after taxes and minority interests was INR322.5 million, a jump of 680 percent from the prior-year period. The firm provided no explanation for the sharp increase.
Delta Corp announced in July it had reached an agreement to operate a casino in the Indian state of Sikkim. The company, controlled by businessman Jaydev Mody, said it signed “a leave and licence agreement” for premises in the Denzong Regency Hotel, in Gangtok, the state’s capital city. The landlocked Indian state is located in the Himalayan Mountains, bordering Nepal and the Indian state of West Bengal.
Delta Corp currently operates three casino vessels in the Indian state of Goa: Deltin Royale; Deltin Jaqk (pictured); and Deltin Caravela. The firm has a land-based casino operation at Deltin Suites, also in Goa, according to the company’s latest annual report.
Goa and Sikkim are the only Indian states allowing some form of casino gaming. Sikkim has two casinos, while Goa offers about 15 gaming venues, according to an April report from consulting firm Global Market Advisors LLC.
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Analyst at Roth Capital Partners