India’s market-leading casino operator, Delta Corp, reported a 22.7% increase in profit in the three months to 30 September 2019, boosted by a reduction in corporate income tax rates.
Delta Corp saw its profit after tax increase from Rs. 48.10 crores (US$6.7 million) in 3Q18 to 59.04 crores (US$8.3 million) this time around, despite a very slight year-on-year fall in revenue to Rs. 252.76 crores (US$35.4 million). That revenue figure represented a 6.7% sequential increase.
The company’s online gaming revenue from its popular poker site, Adda52, grew by almost 14% to Rs.40.93 crores.
Delta Corp is still waiting for the government to make its long-awaited decision to relocate Goa’s offshore casino industry to land – a move described by analysts as major growth driver in the coming years.