written and last updated by
Sam Smith at
26 Jul 2023
Journalist, Editorial Department
Indian casino operator Delta Corp has reported strong and sustained growth in its gaming business for the quarter ending June 30. Net profit rose by 19%, reaching $8.3 million (approximately 746.9 million rubles).
The gaming division was the largest contributor to the operator's overall financial results, with revenue increasing by 10.7% year-on-year to $33.8 million (over 3 billion rubles). Online gaming generated $5.25 million (472.4 million rubles), while the hotel business contributed $2.1 million (nearly 189 million rubles).
EBITDA (earnings before interest, taxes, depreciation, and amortization) in the gaming segment exceeded $13.42 million (1.2 billion rubles), reflecting a 10% annual growth and a remarkable 100% increase quarter-on-quarter.
Overall revenue for the company from early April to the end of June grew by 9% compared to the same period last year, totaling $33.29 million (almost 3 billion rubles).
Delta Corp Chairman Jaydev Mody commented on the company's results: "The momentum established in the previous financial year was maintained in the first quarter. This has led us to another milestone with the highest revenue in our history and an increase in margins for both EBITDA and net profit. We expect regulatory clarity on industry-related issues to emerge over time. The company and management are aware of the challenges facing the business and are confident in overcoming them by implementing the right strategies."
Meanwhile, discussions continue in India regarding increased taxation for the gaming sector. Delta Corp, which operates large floating casinos, anticipates that the outcome will be mutually beneficial and favorable for all stakeholders involved.
It is worth noting that experts do not currently view virtual reality as a competitor to land-based casinos.
