Delta Corp. Ltd. is India’s only publicly listed casino operator, and published their quarter three financial results on Monday.
They faced an unnerving news that the total revenue of Rs. 460.50 million (US$6.2m) was down nearly 80% on the same period last year.
The three-month period ending September 2020 showed a net loss of Rs. 549m versus a Rs. 590m profit in Q3 2019. While the closure of the companies casinos in Goa due to the coronavirus pandemic proved to be a vital blow on their books, a more concerning blow for the stakeholders and shareholders was that the firm’s online operations were down around a fifth on Q2 of this year. That’s still a rise of 8.9% on Q3 2020, but questions will be asked about the decline from Q2 2020 of Delta’s online poker and rummy operations.
However, there’s still a little positive news surrounding the India Poker community, as the casinos are now able to open after the government granted permissions and SOP’s. Also, the state government agreed to a temporary shift to monthly payments of the annual fees instead of a one time payment.