This article contains content that is written like an advertisement .(May 2022) |
Company type | Public |
---|---|
BSE: 532848 NSE: DELTACORP | |
Industry | Casino Hospitality Online gambling |
Founded | 1985 |
Headquarters | |
Area served | Worldwide |
Key people | Jaydev Mody (chairman) |
Revenue | ₹1,067 crore (US$130 million) (FY23) [2] |
₹261 crore (US$31 million) (FY23) [2] | |
Website | www |
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 & 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.
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. [3] In 2007, it was rebranded as Arrow Webtex Limited, and in 2008, it adopted its current name, Delta Corp Limited. [4]
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. [5] 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. [6]
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. [7] Additionally, the company operates India's largest integrated five-star resort in Daman, known as The Deltin [8] and one land-based casino in Sikkim, another one in Nepal. [9]
Delta Corp currently owns one hotel in Goa and one in Daman:
In September 2016, Delta Corp. announced the acquisition of Gaussian Networks, owner of the online poker site Adda52.com and other online games. [1] The acquisition was completed in 2017 for a total consideration of ₹223.9 crore (US$34.38 million). [12]
In 2019, it participated in the Series A round of fundraising in fantasy sports platform Halaplay. [13]
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.
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. [14]
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. [15]
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. [16] This has led to decreased investor confidence. [17] The imposition of a 28% GST on online gaming has also affected the company. [18]
Borgata Hotel Casino & Spa is a hotel, casino, and spa in Atlantic City, New Jersey. It is owned by Vici Properties and operated by MGM Resorts International. The casino hotel features 2,798 rooms and is the largest hotel in New Jersey. Borgata opened in July 2003 and is the top-grossing casino in Atlantic City.
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The Casino Goa is a live casino located offshore in Panaji in Goa. The casino is located on a yacht, the M.V. Caravela, anchored in the River Mandovi. The casino vessel worth is 110 million Rupees and is owned by the Advani Pleasure Cruise Co Ltd, a subsidiary of Delta Corp and Casinos Austria. It has around eleven tables of American Roulette, Blackjack and Paplu (Rummy) besides a few electronic slot machines.
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Gambling in India varies by state; states in India are entitled to formulate their own laws for gambling activities. Some states like Goa have legalised casinos. Common gambling activities like organized betting are restricted except for selective categories including lottery and horse racing.
Santa Fe Station is a hotel and casino located on North Rancho Drive in Las Vegas, Nevada. The casino is owned by Station Casinos and is located on 36 acres (15 ha) of land. The hotel-casino originally opened as the Santa Fe in 1991, and for several years included the only ice rink in Las Vegas. The Santa Fe was involved in a labor dispute with Culinary Workers Union that began in 1993 and lasted into 2000, when the resort was sold to Station Casinos. The resort was renamed as the Santa Fe Station, and subsequently underwent several expansions and renovations.
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Sinclairs Hotels Ltd. operates in the hospitality sector and runs a chain of hotels and resorts. The company owns nine properties in India at Ooty, Burdwan, Siliguri, Darjeeling, Kalimpong, Dooars, Port Blair, Gangtok, and Yangang.
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