India’s Delta Corp sees revenues, profit rise again in 3Q22

India’s only listed gaming company Delta Corp saw its income from operations increase by a further 7.4% quarter-on-quarter – and by 263% over the same period last year – to Rs 337.75 crore (US$41.1 million) during the three months to 30 September 2022.

Enjoying its first full quarter without restrictions since the start of the COVID-19 pandemic, Delta Corp’s 3Q22 results included Rs 273.66 crore (US$33.3 million) from gaming operations and Rs 49.41 crore (US$6.0 million) from online skill games, while Rs 14.68 crore (US$1.8 million) was from non-gaming.

For the six months ended 30 September 2022, the company’s income was 248% higher year-on-year at Rs 652.21 crore (US$79.3 million).

Delta Corp had previously announced gross revenues of Rs 765.2 crore (US$100.5 million) for the financial year ending 31 March 2022.

Profit for the September quarter was Rs 93.04 crore (US$11.3 million), improved on the Rs 77.38 crore (US$9.7 million) reported in the previous quarter and reversing a Rs 25.85 crore (US$3.1 million) loss in the September 2021 quarter.

The improved results come as India continues to emerge from the ravages of the COVID-19 pandemic, which saw Delta Corp’s casinos closed for large period of 2021. It was also granted permission to put one of its offshore casinos in Goa back into operation in May after a court issued a stay against the government’s environmental body.

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.

Source: https://www.asgam.com/index.php/2022/10/14/indias-delta-corp-sees-revenues-profit-rise-again-in-3q22/