Indian casino operator Delta Corp announced that it saw ‘strong and resilient business with robust growth’ in its casino gaming segment during the quarter ended June 30th, with net profit rising by 19 percent yearly to Rs679.1 million ($8.3 million).
The group’s casino gaming division brought in revenue of Rs2.77 billion ($33.8 million), a 10.7 percent yearly increase. Meanwhile, the group’s online skill gaming operations saw a slight drop in revenue, to Rs430.12 million ($5.25 million), down 1.6 percent yearly.
The group’s casino gaming division was by far the largest contributor to the group’s revenue, as its hospitality division contributed just Rs171.8 million ($2.1 million) in revenue during the quarter.
The group operates the country’s two largest floating casinos and a floating casino hotel in Goa.
EBITDA for the casino gaming segment topped Rs1.1 billion ($13.42 million), a 10 percent yearly increase and a 100 percent quarterly increase.
Total revenue for the group during the quarter rose by 9 percent yearly, to Rs2.72 billion ($33.29 million).
Speaking about the ongoing discussions over the increase in taxation on gaming in India, the group notes that it is ‘hopeful and confident, given the kind of representations and concerns being raised by both online gaming and casino industry […] a mutually amicable and favorable outcome will emerge’.
Speaking of the results, the group’s Chairman – Jaydev Mody – noted that “The momentum set by the last FY was carried on with the first quarter giving us yet another milestone in form of the highest revenue ever and margin expansions at both EBIDTA and Net Profit levels. Regulatory clarity over issues concerning the industry is expected in due course of time, however the company and the management are seized of the issues and concerns around the business and are confident of overcoming the same by implementing the right strategies”.
