The Indian gaming company reported a slight decline in casino revenue compared to the third quarter of 2022.
India.- Delta Corp has shared its financial results for the quarter ended December 31, 2022, and reported a decline in revenue from gaming operations from Rs273.66 crore (US$33.6m) to Rs271.81 crore (US$33.3m) when compared to the previous quarter.
The company also posted net sales of Rs273.37 crore. As for profits, Delta Corp posted an increase of 3.3 per cent quarter on quarter from Rs93.04 crore (US$11.3m) to Rs96.13 crore (US$11.8m).
Gross income was up 1.0 per cent compared to the previous quarter to Rs337.19 crore (US$41.4m). The figure was also up 117.7 per cent on year-on-year terms.
After the release of the financial results, Delta Corp shares fell from Rs201 crore to Rs210 crore. Shares hit a high of Rs339 crore in April 2022.
Delta Corp was allowed to reopen its casino venue in Goa on March 7, 2022, while its Sikkim casino reopened on February 11. The casino in Nepal returned to full capacity on February 28.
The company made a representation to the Government of Goa, seeking a reduction for casino licence fees for the period of shut down. However, the government rejected the petition. Due to this, the company said it was going to take legal action against the government of Goa.
Delta Corp says that the company and its subsidiaries were not operational between April 1, 2020, and October 31, 2020, and between May 1, 2021, and September 30 2021 due to restrictions related to the Covid-19 pandemic.