Delta Corp. 4Q22 profit falls 17% as Omicron outbreak eats into visitation

Delta Corp., India’s largest casino operator, posted a 17 percent decline in fiscal 4Q22 profit due to the impact of the Omicron variant on visitation. 

The company reported net profit of 48.11 crore in the three months to end-March. Revenue from gaming operations during the period edged slightly lower to 210.66 crore from 211.87 crore, while revenue from the group’s online operations rose nearly 8 percent from the same period a year earlier to 42.53 crore, while the online operations were also up sequentially from 35.71 crore in the prior quarter. 

Delta, which operates floating casinos in Goa, a casino in Sikkim and Nepal and a hotel in Daman, also said it would pay a dividend of 1.25 per share. 

The casino operations were allowed to operate at 100 percent capacity in Goa from 7th March 2022 and in Sikkim from 11th February 2022. The casino in Nepal is also operating without any restrictions as of 28th February, 2022. 

Delta Corp chairman Jaydev Mody was cited by local media as saying: “The Q4 results have given a good closure to the year, at the same time, we are looking forward to a fantastic year ahead. The year has shown a steady and robust performance vis a vis the previous quarters and we expect full-fledged performance in the year ahead.”