Indian casino operator Delta Corp has experienced a sharp decline in revenue and net profits during the third quarter of 2024 compared to the same period last year, primarily due to a slowdown in gaming operations.
Total revenue for the third quarter reached Rs2.06 billion ($24.9 million), reflecting a decrease of 24.4 percent from Rs2.73 billion ($33.1 million) in the same quarter of 2023.
Net income fell to Rs0.27 billion ($3.3 million), down 61.1 percent from Rs0.69 billion ($8.4 million) reported in the previous year.
For the six-month period ending September 30, 2024, Delta Corp reported total sales of Rs4.02 billion ($48.7 million), a decline of 26.5 percent from Rs5.46 billion ($66.5 million) in the same period last year.
The net income for the first half was Rs0.49 billion ($5.9 million), down 64.6 percent from Rs1.37 billion ($16.5 million) in the previous year.
Delta Corp Limited operates some of the largest offshore casinos in India, including Deltin Royale, Deltin JAQK, and Kings Casino. The company also owns and operates Deltin Suites, a 106-room all-suite hotel with a casino in Goa, as well as Casino Deltin Denzong at the Denzong Regency Hotel in Gangtok, Sikkim.
In addition, Delta Corp owns and operates The Deltin, a 176-room five-star hotel in Daman that is an integrated resort with a proposed casino. The company also owns and operates the online poker site Adda52.com and the online rummy site Adda52rummy.com.
In September, the company announced a strategic move to separate its gaming business from its hospitality and real estate divisions.
