India’s leading gaming company, Delta Corp, crept back into profit in the final three months of 2020, boosted by the reopening of its Goa casino operations in November.
Delta Corp recorded a profit of Rs 1.28 crore (US$176,000) in 4Q20, down 97.7% year-on-year but vastly improved from a loss of Rs 54.91 crore (US$7.6 million) in the September 2020 quarter. The improvement followed the reopening of Goa’s casinos at 50% capacity from 1 November, having previously been closed since 14 March to slow the spread of COVID-19.
As a result of running some casino operations, Delta Corp recorded income from gaming operations for the first time since Q1, with Q4 income of Rs 97.51 crore (US$13.4 million), a decline of 50.0% from Rs 195.23 (US$26.9 million) crore in 4Q19.
Income from online gaming operations, which include online poker site Adda52.com, online rummy site Adda52rummy.com and online fantasy sports site LeagueAdda.com, were largely flat quarter-on-quarter at Rs 42.33 crore (US$5.8 million).
The online segment kept Delta Corp’s business ticking along for much of 2020, with income jumping 60% year-on-year in the second quarter and remaining strong since.
Brokerage Union Gaming has forecast revenue from the online segment to reach Rs 230 crore (US$30.5 million) in sales in FY22.
Delta Corp operates three offshore and one land-based casino in Goa, and another land-based casino in Sikkim. It recently unveiled plans to develop its first integrated resort in Goa, having received approval from the local tourism authority.