Delta Corp to consider buyback of shares on Mar. 28

The board of Delta Corp will conduct a meeting to decide on the buyback of fully paid-up equity shares this Saturday.

As per the exchange filing, the board of Delta Corp will meet on Saturday, 28 March 2020 to consider a buyback of fully paid-up equity shares of the company.

The disclosure was made after trading hours yesterday, 25 March 2020.

On Monday, 16 March 2020, Delta Corp had announced that the casinos operated by the company and its subsidiaries in Goa will remain closed until 31 March, 2020, and will be reviewed thereafter for further course of action.

As a measure to prevent and contain corona virus (COVID-19) disease in Goa, the Director of Health Services, Government of Goa, has directed the closure of all gymnasiums, cinema theatres, swimming pools, casinos, spas, river cruises, night clubs and multiplexes in Goa from midnight of intervening night of 15 and 16 March 2020.

The said closure is in compliance with the foregoing directions of the Goa state government, Delta Corp stated.

Delta Corp had added that it was unable to estimate the quantum of potential losses on account of the impact of this closure and the coronavirus pandemic.

Shares of Delta Corp was locked in 5% lower-circuit to end at Rs 54 on BSE yesterday, 25 March 2020.

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 Goa and Sikkim. In addition, the company also own and operate the online poker site 'Adda52.com', the online rummy site 'Adda52rummy.com' and the online fantasy sports site 'LeagueAdda.com'.

Delta Corp also owns and operates the Deltin Suites, a 106 room, all-suite hotel with a casino located in Goa. We also operate the Casino Deltin Denzong located at the Denzong Regency hotel in Gangtok, Sikkim. We also own and operate The Deltin, a 176 room five-star hotel in Daman, which is an integrated resort with a proposed casino.

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