Indian casino operator Delta Corp reported a 9.0% increase in profit to Rs. 54.90 crores (US$7.7 million) in the three months to 31 December 2019, aided by higher revenue in its online gaming segment and lower tax liabilities.
The improvement came despite total revenues remaining flat compared to the same period in 2018 at Rs.205.13 crores (US$29 million), with revenue from gaming operations down 3.4% to Rs. 195.23 crores. EBITDA fell 9.2% to Rs. 73.52 crores (US$10.4 million) while EBITDA margin declined from 41.7% in December 2018 to 38.7% this time around.
Online gaming revenue from the company’s popular poker site, Adda52, continued to grow with an 8.7% increase to Rs.40.29 crores (US$5.7 million).
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.
The company also announced last week that it will soon commence operations of a casino at the Marriot Hotel in Kathmandu after being issued a Nepal casino license.