Delta Corp jumps on receiving approval for Goa resort

Delta Corp rose 3.16% to Rs 161.75 after the company said it received regulatory approval for setting up an integrated resort in Goa.

Delta Corp on Saturday (12 December 2020) announced that it has received an in-principle approval from the Goa Investment Promotion and Facilitation Board for setting up of an integrated resort consisting of hotels, convention centre, multiplex cinema, retail area, electronic casino, water park and other facilities at Pernem in Goa.

"The integrated resort is expected to be one of its kind in the country . The project is expected to boost tourism, employment and infrastructure of the state of Goa," the company said in a statement.

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

On a consolidated basis, Delta Corp reported a net loss of Rs 54.91 crore in Q2 September 2020 compared with a net profit of Rs 59.04 crore in Q2 September 2019. Net sales slumped 80.9% to Rs 38.37 crore in Q2 September 2020 over Q2 September 2019.

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