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India’s Delta Corp Records Solid Financial Results In Third Quarter

Posted on October 17, 2022 | 5:28 am

Delta Corp, the biggest and only listed casino operator in India, has announced that the third quarter of 2022 has brought good financial results for the company, with increased revenue and profit.

During the third quarter of 2022 the company saw its operational revenue increase by 7.4 percent compared to the previous quarter. However, the increase compared to the same quarter of last year was significant: 263 percent. The company’s income from operations in the third quarter amounted to 41.1 million US dollars, which would convert into around Rs 337.75 crore.

The quarter which ended on 30 September 2022 was the first full quarter without restrictions for Delta Corp since the start of the novel coronavirus pandemic. During this quarter, the company generated 33.3 million dollars from gaming operations and another 6 million from online skill games, while the non-gaming operations generated 1.8 million dollars.

Looking at the figures for the six months to 30 September 2022, the company’s income amounted to 79.3 million dollars, an amount which represents an increase of 248 percent year-on-year. The previous financial year, which ended on 31 March 2022, had brought gross revenues of 100.5 million dollars for Delta Corp.

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Improved Profits As Well

For the third quarter of 2022, Delta Corp announced a profit of 11.3 million dollars, a slight increase from the profit of 9.7 million dollars recorded in the second quarter of the year. The third quarter of 2021 was a lot worse, though, as it brought the company a loss of 3.1 million dollars.

The solid results were somewhat expected as India continues to recover from the many difficulties brought about by the COVID-19 pandemic. The restrictions imposed by the authorities kept Delta Corp’s casinos closed for months in 2021. Moreover, the company was also granted permission to reopen one of its offshore casinos in Goa in May.

Delta Corp owns and operates the two largest offshore casinos in India, Deltin Royale and Deltin JAQK, and the only floating hotel with a casino in the country, King Casino. The company also owns and operates the Deltin Suites in Goa Casino Deltin Denzong in Sikkim, along with the 176-room five-star hotel The Deltin in Daman.

Delta Corp also has an online presence as it operates, the biggest online poker site in the country, along with and online fantasy sports site

SOURCE“India’s Delta Corp sees revenues, profit rise again in 3Q22“Inside Asia Gaming. October 14, 2022.

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