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Delta Corp Ltd announces first land-based IR in Pernem

India's market leader in the casino and gaming business, Delta Corp Ltd, is expected to build the first IR of its kind in Pernem, Goa 

On Saturday, India’s largest Casino and hotel operator, Delta Corp Ltd, revealed it had received an approval from the Goa Investment Promotion and Facilitation Board to construct the first land-based integrated resort in Pernem, state of Goa.

In a statement, India's largest casino operator said,

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.

Delta did not disclose a timeline for the development of its new gaming complex, but it will include hotels, convention centers, multiplex cinema, retail area, electronic casino, water park, and other facilities.

Delta Corp is the market leader in the casino and gaming business in the country, operating multiple casinos in Goa, Sikkim, and Nepal, online poker site ‘Adda52.com’, and the online rummy site ‘Adda52rummy.com’.

Delta CorpMoreover, the company stock remained convincing in the morning trade on Monday, December 14. The Delta Corp Ltd stock closed at ₹165.20, up by ₹8.85 or 5.53% on the BSE.

Delta Corp had previously reported a net loss of ₹54.91 Crore in Q2 (September 2020) compared to a net profit of ₹59.04 Crore in Q2 September 2019.

The company’s three floating casinos in Goa, namely, Deltin Royale, Deltin JAQK, and Deltin Caravela, reported a gross turnover close to US$1.6 million in the 2018-19 financial year. 

The government had previously pledged to develop a dedicated gaming zone near Goa’s second airport in Mopa, Pernem area, where all the casinos would be relocated. Goa Chief Minister Pramod Sawant stated the airport would have an integrated zone housing casino and wellness, eco, and adventure resorts.

Earlier this month, two employees at two different offshore casinos in Goa had tested positive for COVID-19, and led to the closure of operations for Goa’s casinos due to the risk of a “second wave” of the virus, yet another blow to the industry’s prospects as it attempts to emerge from the long period of pandemic-related business suspension. 

Source: Calvinayre

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