Delta Corp gets permission for integrated resort in Goa

Authorities have granted Delta Corp permission to go ahead with the development of an integrated resort in Pernem, Goa.

India.- Delta Corp has said that Goa’s Investment Promotion Board has approved the company’s project for a new integrated resort in Pernem.

Last December, the company announced the acquisition of around 100 acres of land in Pernem, Goa for the development as it seeks to shift operations from floating casinos to land-based casino resorts.

Delta Corp currently owns three of Goa’s six floating casinos. It also has a casino in Sikkim and a five-star resort in Daman, for which it has applied for a casino licence. The company is also seeking to expand into Nepal.

For many years, the government has been seeking to move Goa’s floating casinos from the Mandovi River. Delta Corp said its land-based IR project will include hotels, a convention centre, a multiplex cinema, a water park, retail facilities as well as an electronic casino to boost tourism in Pernem.

Delta Corp‘s casinos in Goa have been closed since April 29, but the company has been allowed to reopen its venue in Sikkim.

In May, Delta Corp asked authorities for a waiver on licence fees due to the impact on its venues. Delta Corp reported a consolidated net loss of Rs28.93 crore for the first quarter of the year. That compares to a profit of Rs57.77 crore in the previous quarter. 

Net sales declined 64.1 per cent to Rs75.87 crore when compared to the fourth quarter of last year, but were up 57 per cent year-on-year.