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Delta Corp Limited
Company typePublic
BSE: 532848
NSE: DELTACORP
IndustryCasino
Hospitality
Online gambling
Founded1985; 39 years ago (1985)
HeadquartersDelta House,

Hornby Vellard Estate, Dr. Annie Besant Road, Next to Copper Chimney,

Worli, Mumbai – 400018,
Pune, Maharashtra, India[1]
Area served
Worldwide
Key people
Jaydev Mody (chairman)
RevenueIncrease ₹1,067 crore (US$130 million) (FY23)[2]
Increase ₹261 crore (US$31 million) (FY23)[2]
Websitewww.deltacorp.in

Delta Corp Limited, formerly Arrow Webtex Ltd, is an Indian Public company specializing in gaming and hospitality. The firm's primary assets encompass offshore Casino and hospitality services, operating under the Deltin Casinos & Hotels brand. The company engages in various forms of casino gaming, including live, electronic, and online platforms, with a significant focus on operations in Goa.

History

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Delta Corp Limited was initially established on 5 November 1985, as a privately held company known as Creole Holdings Company Private Limited. Following the acquisition of shares by the Finolex Group, the company underwent a transition into a deemed public limited company and changed its name to Creole Holdings Company Ltd on 2 June 1992. During the period of 2003–04, Finolex Cables Limited divested its shareholdings, leading to the company no longer being a subsidiary. On 25 September 2003, the company was transformed into a private limited company.[3] In 2007, it was rebranded as Arrow Webtex Limited, and in 2008, it adopted its current name, Delta Corp Limited.[4]

Divisions

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Offshore casinos and casino hotels

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On 1 December 2015, Delta Corp Limited announced that it had been granted a license to operate a casino at its Deltin Suite hotel in Goa.[5] Subsequently, the Government of Goa extended the company's offshore casino license to allow on the Mandovi River, with annual renewals subject to license fees and compliance with government regulations.[6]

As of 2023, Deltin owns a total of nine properties spread across Goa, Sikkim, Daman and Nepal. Their holdings include three offshore casinos, two onshore casinos and a luxurious 5-star hotel in Goa.[7] Additionally, the company operates India's largest integrated five-star resort in Daman, known as The Deltin[8] and one land-based casino in Sikkim, another one in Nepal.[9]

  • Deltin Royale: As Asia's largest offshore gaming vessel with five operational levels, Deltin Royale stands as premium casino that offers over 964 gaming positions across 50,000 sq. ft. featuring 120 gaming tables, 4 VVIP gaming rooms, and 60 slot machines. Deltin Royale boasts India's largest dedicated poker room, known as the Adda52 Live Poker Room, and hosted the first ever World Poker Tournament in India.
  • Deltin JAQK: Operating since 2008, Deltin JAQK has four levels and caters primarily to the value-oriented segment. Spanning 40,000 sq. ft. it includes a separate VIP gaming area and provides 431 gaming positions, with 50 gaming tables and 15 slot machines. The casino offers a dedicated playroom, a crèche for toddlers, and an aqua bar.
  • Kings Casino (Previously known as Deltin Caravela): Kings Casino offers an affordable gaming experience, housing over 217 gaming positions across 25,000 sq. ft. The company plans to replace this casino license with a newer vessel
  • Deltin Zuri: In June 2022, Deltin assumed operational control of the in-house casino at The Zuri White Sand Resorts in Varca, marking the commencement of operations at the only casino in South Goa. Deltin Zuri features more than 50 gaming positions across games like Baccarat, Blackjack, Andar Bahar, Roulette, 3 Card Poker, and slot machines.
  • Deltin Gold: On 12 April 2023, Deltin announced the opening of 'Deltin Gold,' the largest onshore casino in Goa, located in Sinq Prive, Candolim, Goa. The casino offers more than 145 gaming stations, including a dedicated kids' area and an indulgent VIP lounge.
  • Deltin Denzong: In July 2016, the company obtained a license to operate casinos in Gangtok, Sikkim. To expand its gaming presence in other regions, Delta Corp partnered with Hotel Welcome Heritage Denzong Regency to establish a casino in Sikkim. The casino, serving the eastern region of India, provides over 206 gaming positions across a 15,000 sq. ft. gaming area, including a separate VIP gaming section.[10]
  • Deltin Nepal: Delta Corp joined forces with Nepal-based Everest Hospitality and Hotel Private Limited to operate a casino within the 235-room 5-star Marriott Hotel in Kathmandu. This move aligns with the company's strategy of expanding its presence in the region. The casino, covering 15,000 sq. ft. featuring 220 gaming positions, including a separate VIP gaming area.[11]

Hospitality

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Delta Corp currently owns one hotel in Goa and one in Daman:

  • Deltin Suites: Deltin Suites is a hotel and casino comprising 106 all-suite rooms located in Goa. With a gaming area spanning 1,000 sq. ft. and featuring 59 gaming positions, it offers convenient proximity to the popular Candolim and Calangute beaches. The hotel is also conveniently situated near the boarding points for the offshore casinos.
  • The Deltin, Daman:The Deltin, Daman is a deluxe five-star property sprawled over 10 acres, making it the largest integrated resort in the area. With a developed area of 300,000 sq. ft., it boasts 176 rooms. The resort is equipped with an expansive banquet facility, three bars, four specialty restaurants, 27,000 sq. ft. of indoor event space for weddings and MICe (Meetings, Incentives, Conferences, and Exhibitions), and a high-end retail space spanning 8,000 sq. ft.

Online gambling and games

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In September 2016, Delta Corp. announced the acquisition of Gaussian Networks, owner of the online poker site Adda52.com and other online games.[1] The acquisition was completed in 2017 for a total consideration of ₹223.9 crore (US$34.38 million).[12]

In 2019, it participated in the Series A round of fundraising in fantasy sports platform Halaplay.[13]

Sports

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In 2014, Delta Corp became owners of the Indian Super League club FC Goa along with Virat Kohli (who owns 12% of the club), and a few other investors.

Upcoming Projects

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New Casino Vessel in Goa: As part of the Detin Brand, there is a plan to introduce a new casino vessel on the scenic river Mandovi. This project involves an investment of 150 crore and aims to replace the existing Deltin Caravela (Currently known as Kings Casino). The introduction of the new ship is expected to significantly increase the gaming capacity, providing an enhanced experience for visitors.[14]

An Integrated Casino Resort: Delta Corp. has made a substantial investment in a 100- acre property location in Mopa, Pernem village. The estimated investment for this project amounts to Rs. 1,500 crore. Once completed, this new property is set to bring significant growth and development. With the expansion, Delta Corp. aims to create more employment opportunities, with projections of employing a substantial workforce of around 7,000 to 8,000 people. This endeavor showcases the commitment of the Jaydev Mody -led company towards boosting economic growth in the region and further strengthening their presence.[15]

Challenges

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Delta Corp has seen a decline in its stock value. A tax notice from the government, requiring a payment for the period between 2017 and 2022, has been a significant factor.[16] This has led to decreased investor confidence.[17] The imposition of a 28% GST on online gaming has also affected the company.[18]

See also

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References

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  1. ^ a b "Pune's Delta Corp Ltd Forays into Online Gaming; Acquires Poker Site Adda.com For $27 Mn". Inc42 Media. 1 September 2016. Retrieved 25 May 2022.
  2. ^ a b "Delta Corp Ltd Q4FY23 consolidated PAT at Rs. 51.17 crores". Equity Bulls. Retrieved 12 July 2023.
  3. ^ "Delta Corp Ltd". Edelweiss. Retrieved 23 February 2017.
  4. ^ "Delta Corp Ltd". The Economic Times. Retrieved 23 February 2017.
  5. ^ "Delta Corp inches up after bagging license for a casino in Goa". Business Standard. 2 December 2015. Retrieved 8 September 2016.
  6. ^ "Delta Corp surges as Goa extends offshore casino licenses". The Economic Times. 7 April 2016. Retrieved 23 February 2017.
  7. ^ Layak, Suman. "Jaydev Mody: Gambler-turned-gaming entrepreneur & promoter of Delta Corp bets on casinos". The Economic Times. Retrieved 14 August 2021.
  8. ^ "Delta Corp: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Delta Corp". profit.ndtv.com. Retrieved 8 September 2016.
  9. ^ "Delta Corp acquires temporary license to open new casino in India's Sikkim state". Calvin Ayre News. 28 July 2016. Retrieved 8 September 2016.
  10. ^ Yogonet. "India's Delta Corp to inaugurate Casino Deltin Denzong on January 14 | Yogonet International". www.yogonet.com. Retrieved 22 August 2023.
  11. ^ "Deltin launches its first international casino in Kathmandu, Nepal". The Times of India. Retrieved 14 August 2021.
  12. ^ Laghate, Gaurav (28 September 2017). "Gaming company Delta Corp completes Adda52 Deal". The Economic Times. Retrieved 25 May 2022.
  13. ^ "Nazara, Delta Corp invest Rs 40 cr in Halaplay Tech". The Economic Times. Retrieved 25 May 2022.
  14. ^ "Goa: Deltin to replace river casino with new ship 2.5 times its capacity". The Times of India. 2 May 2022. ISSN 0971-8257. Retrieved 24 August 2023.
  15. ^ "Delta Corp to Build Complex in Entertainment Zone". Zee News. Retrieved 24 August 2023.
  16. ^ Kumar, Nishant (26 September 2023). "Delta Corp share price hits fresh 52-week low; down 48% in about three months; what should you do?". LiveMint.
  17. ^ "India's Delta Corp shares sink on $1.34 bln tax blow". Reuters. 25 September 2023.
  18. ^ "Delta Corp share plummets to 52-week low due to this reason". Times Now News. 26 September 2023.
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