Delta Corp demerger approved by board
The main goal of the demerger plan is to improve the operational efficiency of core gaming activities.
India.- Delta Corp‘s board of directors has approved the demerger of its gaming business from its hospitality and real estate divisions.
Delta Penland Private Limited (DPPL), a newly incorporated company, will run the hospitality and real estate business, including Deltin Suites, in Goa, The Deltin, in Daman, Marvel Resorts, a proposed 440-room hotel in Goa in advanced construction, and land in Dhargalim, Goa, where the company aims to develop an integrated resort with a water park.
Delta Corp said the shares of the resulting company “shall be listed on the stock exchanges pursuant to the scheme.” It said: “These listed entities will be subject to public, media, analysts and regulatory review. A clean corporate structure with no cross holdings will ensure transparency, accountability, and highest standards of corporate governance and compliance” and stressed the demerger plan will have no impact on employees, customers and its business partners.
The new scheme aims to “improve its operational efficiency and accountability” increase investor opportunities and allow better resource allocation.
Delta Corp posts net profit of US$2.59m for Q1
As previously reported by Focus Gaming News, Delta Corp posted a net profit of Rs 21.68 crores (US$2.59m) for the first quarter of the financial year 2024-25. That’s a decline of 70 per cent sequentially and 68.15 per cent when compared to last year.
Revenue from operations was down 21.5 per cent in year-on-year terms to Rs 218.31 crores (US$26.1m). The figure was also down 2 per cent when compared to the fourth quarter of the financial year 2023-24.
Income from gaming operations was Rs 169.42 crores (US$20.3m), down from Rs 174.07 crores (US$20.8m) from the previous quarter. Online skill gaming revenue grew 4.2 per cent quarter-on-quarter from Rs 35.08 crores (US$4.2m) to Rs 36.55 crores (US$4.4m) while income from hospitality operations declined 9.3 per cent to Rs 12.34 crores (US$1.5m).
