On Tuesday, Delta Corp announced that it is seeking to raise about 30 to 40 million dollars for its online gaming business. Delta Corp remains in good standing as the government of Goa allowed casinos in the state to reopen earlier in the month after a long period of closure necessitated by the Covid-19 pandemic, which ravaged the country. As lockdown has been eased, operations in many entertainment areas such as massage parlours, spas, and casinos have been re-initiated while other areas and events like music festivals are still on hold and awaiting the government’s permission to resume.
Statement From the CFO of Delta Corp Looks Forward to Growth
Hardik Dhebar, the Chief Financial Officer (CFO) at Delta Corp told CNBC TV18 that the firm is at the concluding stages of appointing a banker. He added that: The fund (around 30 t0 40 or 50 million dollars) it seeks to raise is to help grow the brand business. Dhebar further assures that Delta Corp foresees pre-Covid figures for the next three to six months, as the capital will help to increase the firm’s revenue.
Dhebar also pointed out how the online business has steadily contributed to Delta Corp’s topline. Speaking on the business, Dhebar stated that the firm has only been in operation in Goa for about eight to ten days and there are already positive indications that Delta Corp will hit high revenues again as it did before the pandemic disrupted business activities. Dhebar expresses optimism that Delta Corp will record higher numbers that will exceed expectations when it reports a full quarter in the next quarter.
Casinos are now permitted to operate at half capacity in Goa as part of ease of lockdown measures in contrast to the total closure obtainable in the past few months as the state and country at large battle with the Covid-19 pandemic. There are 6 offshore casinos off Panaji, the state capital of Goa (precisely on Mandovi river) while about 12 other casinos run inside hotels. These could also soon partner with firms like Evolution and its Dual Play should licensing come into fruition for online gambling venues.
About Delta Corp – One of the few iGaming firms from India to make the big time
Delta Corp Ltd is a listed company in India engaged in the gaming and casino (online, electronic, and live) industry. The firm operates casinos in India via its subsidiaries in the states of Sikkim and Goa, offering up to 1,800 gaming positions. The company acquired Gauss Networks Private Ltd and took over the operation of Adda52.com, the latter’s online poker site. Delta Corp also extended its reach to Nepal in February 2020 starting an international casino there.
How long it will be before the firm opens online casinos in India with rupees and crypto-only is the next question. The firm is likely going to grow B2B operations bringing casino aggregator platforms to the market, giving local companies in India the chance to grow.