Indian casino company
Delta Corp Limited, formerly Arrow Webtex Ltd, is an Indian Public company specializing in gaming and hospitality. The firm's primary assets encompass offshore Casino and hospitality services, operating under the Deltin Casinos &amp; Hotels brand. The company engages in various forms of casino gaming, including live, electronic, and online platforms, with a significant focus on operations in Goa.
History.
Delta Corp Limited was initially established on 5 November 1985, as a privately held company known as Creole Holdings Company Private Limited. Following the acquisition of shares by the Finolex Group, the company underwent a transition into a deemed public limited company and changed its name to Creole Holdings Company Ltd on 2 June 1992. During the period of 2003–04, Finolex Cables Limited divested its shareholdings, leading to the company no longer being a subsidiary. On 25 September 2003, the company was transformed into a private limited company. In 2007, it was rebranded as Arrow Webtex Limited, and in 2008, it adopted its current name, Delta Corp Limited.
Divisions.
Offshore casinos and casino hotels.
On 1 December 2015, Delta Corp Limited announced that it had been granted a license to operate a casino at its Deltin Suite hotel in Goa. Subsequently, the Government of Goa extended the company's offshore casino license to allow on the Mandovi River, with annual renewals subject to license fees and compliance with government regulations.
As of 2023, Deltin owns a total of nine properties spread across Goa, Sikkim, Daman and Nepal. Their holdings include three offshore casinos, two onshore casinos and a luxurious 5-star hotel in Goa. Additionally, the company operates India's largest integrated five-star resort in Daman, known as The Deltin and one land-based casino in Sikkim, another one in Nepal.
Hospitality.
Delta Corp currently owns one hotel in Goa and one in Daman:
Online gambling and games.
In September 2016, Delta Corp. announced the acquisition of Gaussian Networks, owner of the online poker site Adda52.com and other online games. The acquisition was completed in 2017 for a total consideration of ₹223.9 crore (US$34.38 million).
In 2019, it participated in the Series A round of fundraising in fantasy sports platform Halaplay.
Sports.
In 2014, Delta Corp became owners of the Indian Super League club FC Goa along with Virat Kohli (who owns 12% of the club), and a few other investors.
Upcoming Projects.
New Casino Vessel in Goa: As part of the Detin Brand, there is a plan to introduce a new casino vessel on the scenic river Mandovi. This project involves an investment of 150 crore and aims to replace the existing Deltin Caravela (Currently known as Kings Casino). The introduction of the new ship is expected to significantly increase the gaming capacity, providing an enhanced experience for visitors.
An Integrated Casino Resort: Delta Corp. has made a substantial investment in a 100- acre property location in Mopa, Pernem village. The estimated investment for this project amounts to Rs. 1,500 crore. Once completed, this new property is set to bring significant growth and development. With the expansion, Delta Corp. aims to create more employment opportunities, with projections of employing a substantial workforce of around 7,000 to 8,000 people. This endeavor showcases the commitment of the Jaydev Mody -led company towards boosting economic growth in the region and further strengthening their presence.
Challenges.
Delta Corp has seen a decline in its stock value. A tax notice from the government, requiring a payment for the period between 2017 and 2022, has been a significant factor. This has led to decreased investor confidence. The imposition of a 28% GST on online gaming has also affected the company.
References.
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