Indian gaming and hospitality leader Delta Corp saw its total income from operations climb 18.4% to Rs128.6 crore (US$23.8 million) in the three months to 30 June, led by strong growth in its casino gaming division.
Segment revenue for gaming in 2Q17 reached Rs115.7 crore, up 20.2% year-on-year and 22.2% sequentially with Delta Corp – which operates three of the six offshore casinos in Goa as well as an Integrated Resort in Daman – reaping the benefits of a strong local economy.
The company also enjoyed a 95% sequential and 12% year-on-year increase in profits after tax to Rs22.3 crore (US$4.1 million).
Group Chief Financial Officer Hardik Dhebar said Delta Corp was now well placed to explore further expansion opportunities following an eventful quarter which included an Rs550 crore (US$101.8 million) injection of funds via a QIP issue.
“The fund raising through QIP has helped the company to not only become debt free but has also provided a war chest for future growth,” he said. “Our organic and inorganic growth will provide a robust opportunity for a steady income stream and help us grow exponentially.”
Delta Corp has recently declared its intention to invest in online gaming and earlier this month was granted approval to acquire Gauss Network Private Ltd, owner of India’s biggest online poker site.
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