India’s leading gaming company Delta Corp saw its gross income from operations decline 12.2% quarter-on-quarter to Rs 269.99 crore (US$35.5 million) in the three months to 31 March 2022.
The lower income was attributed to a ”substantial decrease in visitation” to the company’s land-based casinos in Goa and Sikkim between 22 January and 22 February 2022 due to the Omicron variant of COVID-19. The results were, however, slightly improved from the Rs262.35 crore (US$34.5 million) recorded in the March quarter of 2021.
For the full financial year, running from 1 April 2021 to 31 March 2022, gross income grew 48.4% year-on-year to Rs 765.2 crore (US$100.5 million).
The March quarter included a 15.6% decline in income from casino gaming to Rs210.66 crore (US$27.7 million) and 24.6% decline in income from hospitality to Rs16.8 crore (US$2.2 million). Conversely, income from online skill gaming – namely the company’s online poker site Adda52.com, online rummy site Adda52rummy.com and online fantasy sports site LeagueAdda.com – grew 19.1% to Rs 42.53 crore (US$5.6 million).
Profit for the period declined from Rs 70.38 crore (US$9.5 million) in the December quarter to Rs 48.11 crore (US$6.3 million). Delta Corp noted that its casinos have only been allowed to operate at full capacity since 11 February in Sikkim and 7 March in Goa.
“The Q4 results have given a good closure to the year and at the same time we are looking forward to a fantastic year ahead,” said Delta Corp Chairman Jaydev Mody.
“The year has shown a steady and robust performance vis-à-vis the previous quarters and we expect full-fledged performance of the year ahead.”
Delta Corp operates India’s two largest offshore casinos, Deltin Royale and Deltin JAQK, and the country’s only floating hotel with a casino, King Casino, all located in Goa. It also owns and operates the Deltin Suites in Goa Casino Deltin Denzong in Sikkim, as well as the 176-room five-star hotel The Deltin in Daman.
RelatedPosts
