Delta Corp adds over 12% in four days

Delta Corp rose 2.51% to Rs 200.10, extending gains for the fourth day.

The stock has added 12.86% in four sessions, from its recent closing low of Rs 177.30 recorded on 30 June 2021.

On a year-to-date basis, the stock has added 23.54% while the benchmark Sensex has added 11.16% during the same period.

In an exchange filing made during market hours yesterday, Delta Corp said that due to the surge in COVID-19 cases being witnessed in Goa, the Government of Goa has extended the restrictions in the state respectively till 12 July 2021.

Accordingly, the casinos operated by the company and its subsidiaries in Goa will remain closed during this period. The company said that it is unable to estimate the quantum of potential losses on account of this temporary closure and the pandemic at this time.

Delta Corp owns and operates three offshore casinos in Goa out of a total of six offshore casino licenses and also one land-based casino. The total number of gaming positions in Goa is about 1,600.

The company added that the Government of Sikkim has allowed reopening of the casinos in the State subject to the safety norms being followed. Further the company and/or its subsidiary operating the casino in the state of Sikkim will resume its operations from 6 July 2021.

The company operates one casino located in the premises of hotel Denzong Regency in Gangtok, Sikkim.

Delta Corp is the only listed company engaged in the casino (live, electronic and online) gaming industry in India. The firm, along with its subsidiaries, currently own and operate casinos in India, in the states of Goa and Sikkim, offering approximately 1,800 gaming positions. In addition, it also has ventured into the fast-growing online gaming space through our acquisition of Gauss Networks, which operates the online poker site 'Adda52.com'.

The company's consolidated net profit soared 100.73% to Rs 57.65 crore on 16.81% rise in net sales to Rs 211.34 crore in Q4 FY21 over Q4 FY20.

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