Gambling in India: Delta Corp posts profit of US$4.1m for Q3

Profit was up 24.39 per cent sequentially.

India.- Delta Corp has shared its financial results for the third quarter of the financial year 2024-25. It posted a total income of Rs 206.99 crores (US$23.82m), up 0.3 per cent sequentially but down 7.6 per cent in year-on-year terms. Profit was up 24.39 per cent quarter-on-quarter from Rs 26.98 crores (US$3.1m) to Rs 35.73 crores (US$4.1m) and up 3.62 per cent from Rs 34.48 crores (US$4m) a year earlier.

Gross income from operations was Rs 235.27 crores (US$27.2m), flat year-on-year and up 2.9 per cent sequentially mainly due to growth in the company’s online skill gaming and hospitality segments.

Revenue from gaming operations was down 1.01 per cent in quarter-on-quarter terms to Rs 175.44 crores (US$20.2m). The figure was also down 3.36 per cent in year-on-year terms. Online skill gaming revenue grew 9.2 per cent quarter-on-quarter to Rs 45.45 crores (US$5.2m). Income from hospitality operations grew by 47.9 per cent quarter-on-quarter to Rs 14.38 crores (US$1.7m).

Cumulatively, Delta Corp has reported income of Rs 608.93 crores (US$70.06m) for the first nine months of the financial year, down 26.31 per cent year-on-year. Gaming operations were down 22.35 per cent year-on-year to Rs 522.09 crores (US$60.08m).

Online skill gaming revenue was Rs 123.63 crores (US$14.22m), up 9.63 per cent, while income from hospitality operations was down 2.22 per cent to Rs 36.44 crores (US$4.19m).

Delta Corp demerger approved by board

Last September, Delta Corp‘s board of directors approved the demerger of its gaming business from its hospitality and real estate divisions. Delta Penland Private Limited (DPPL), a newly incorporated company, will run the hospitality and real estate business, including Deltin Suites, in Goa, The Deltin in Daman, Marvel Resorts, a proposed 440-room hotel in Goa in advanced construction and land in Dhargalim, Goa, where the company aims to develop an integrated resort with a water park.

Delta Corp said the shares of the resulting company “shall be listed on the stock exchanges pursuant to the scheme.” It said: “These listed entities will be subject to public, media, analysts and regulatory review. A clean corporate structure with no cross holdings will ensure transparency, accountability and highest standards of corporate governance and compliance” and stressed the demerger plan will have no impact on employees, customers and its business partners.

The new scheme aims to “improve its operational efficiency and accountability”, increase investor opportunities and allow better resource allocation.

Profit was up 24.39 per cent sequentially. India.- Delta Corp has shared its financial results for the third quarter of the financial year 2024-25. It posted a total income of Rs…