Delta Corp Daman Casino News
Delta Corp has secured a leadership position in the industry with its early mover advantage. It holds three of the six offshore gaming licenses issued in Goa, three land based casinos, one each in Goa, Sikkim & Nepal, two 5-star rated hotels and three online gaming sites. Visit Delta Corp website.
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ICICI Ventures-backed Delta Corp has acquired 51 per cent stake in Daman Hospitality Pvt Ltd for Rs 50 crore in its second acquisition this year. Daman Hospitality is in the process of building a five star deluxe resort in Daman and Delta Corp will pitch in with Rs 40 crore more as debt for the project.
- Delta Corp setting up a casino in Daman: Nirmal Bang. By virtue of possessing three out of the six issued offshore gaming licenses in the state of Goa, Delta Corp Ltd (Delta Corp) is the largest.
- New Delhi: Delta Corp has increased stake in Daman Hospitality to 87.16 percent through conversion of fully convertible debentures. Delta Hospitality and Leisure Private Ltd (DHLPL), a wholly-owned subsidiary of Delta Corp Ltd has increased its equity holding in Daman Hospitality Pvt Ltd (DHPL) through a conversion of fully convertible debentures, Delta Corp said in a filing to BSE Tuesday.
Daman Hospitality is the Indian affiliate of NYSE Euronext Amsterdam-listed Thunderbird Resorts. Thunderbird will continue to own the balance 49 per cent in the company, along with original Indian partners, while Delta will be responsible for securing any new debt for the project. Thunderbird is into branded casino and hospitality services and focuses on markets in Asia and Latin America, with operations in Costa Rica, Nicaragua, Peru and the Philippines. It will now run the upcoming Daman hotel with a management contract.
As a part of the deal, Delta will subscribe to 840,000 shares of Thunderbird at a price of $2 per share or around $1.68 million. This deal is to be completed by May 31.
Daman Hospitality resort is expected to feature 176 rooms, besides a vast spread of indoor and outdoor entertainment area and a shopping arcade. The project is substantially completed and is expected to be ready in another 6-8 months. Delta plans to operate a casino in the upcoming project as part of its business model of combining hospitality and gaming.
This happens to be the second deal in four months. In February this year, Delta said that it was acquiring a majority stake in Marvel Resorts Pvt Ltd for up to Rs 54 crore ($12 million) to strengthen its position in the offshore and onshore casino space in Goa, one of the top Indian tourist destinations.
The deal may involve stake purchase of anywhere between 67-100 per cent and the transaction value will accordingly range between Rs 36 crore and Rs 54 crore. As part of the transaction, Delta will also assume the debt lying in Marvel.
Marvel owns approximately two acres in the capital city of Panjim, Goa, and has approved plans for a five star hotel to be built on the same land parcel. With the acquisition, Delta proposes to develop a land-based casino in the five star hotel. Delta Corp is acquiring the stake through its subsidiary Delta Hospitality and Leisure Pvt Ltd.
Moreover, the company has recently acquired MV Horseshoe Casino from Harrah’s Corp Inc., which runs Caesar’s Palace in Las Vegas, and the move will boost its offshore casino business. It will treble Delta’s 725 existing gaming positions to 2,225 by end of June when it is expected to arrive in India.
Delta Corp had raised Rs 285.48 crore last year through a mix of shares and equity convertible warrants issue to a group of largely individual investors, including ace investor Rakesh Jhunjhunwala and his wife.
Although it was originally a textile firm, the company had undergone a business restructuring over the last two years and became a hospitality and real estate player by demerging its textile business to Arrow Textiles.
The largest shareholder of Delta Corp is Zia Jaydev Mody (one of the top corporate lawyers of the country and daughter of Soli Sorabjee) who is married to Jaydev Mody who in turn is related to the Piramals and has been engaged in the real estate sector.
ICICI Venture bought 14.99 per cent in Delta (then Arrow Webtex) for Rs 82 crore at a price of Rs 40.5 per share. Since then, its holding has whittled down to just over 7 per cent due to subsequent issues and some share sale in open market transactions. Another investors in the company is BCCL (through Brand Equity Treaties Ltd).
Delta Corp owns two offshore Casinos in Goa – Casino Royale and King’s Casino. It also owns a large minority stake in Advani Hotels & Resorts which, in turn, owns Ramada Caravela Beach Resort and also operates offshore Casino Goa on board MV Caravela.
| Type | Public |
|---|---|
| BSE: 532848 NSE: DELTACORP | |
| Industry | Conglomerate |
| Founded | 1985; 35 years ago |
Area served | Worldwide |
| Jaydev Mody (chairman) | |
| Revenue | ₹50,000 million (US$700 million) (March 2019)[1] |
Number of employees | 11500 |
| Website | www.deltacorp.in |
Delta Corp Limited, previously known as Arrow Webtex Ltd., is an Indian gaming and hospitality corporation that owns and operates casinos and hotels under several brands. It is India’s only listed company engaged in casino (live, electronic and online) gaming. They are the largest player in organised gaming, their first-mover advantage across the under-penetrated industry in India has enabled them to secure a leadership position in the Indian gaming and entertainment industry. It runs the majority of the offshore casinos on Panaji, Goa. It is the largest gaming company in India with a revenue of ₹INR 4829.10 Cr.[2]
History[edit]
Delta Corp Limited was incorporated as a privately held company under the name Creole Holdings Company Pvt Ltd on 5 November 1985. The company became a deemed public limited company with the acquisition of shares by Finolex group and the name was changed to Creole Holdings Company Ltd on 2 June 1992. During the year 2003-04, Finolex Cables Ltd divested their shareholding in the company and thus the company ceased to be a subsidiary. On 25 September 2003, the company was converted into a private limited company.[3] In 2007, the company changed its name to Arrow Webtex Ltd. In 2008, the company once again changed its name to Delta Corp Limited, which is currently used.[4]
Delta Corp divisions[edit]
Entertainment and Gaming[edit]
On 1 December 2015, Delta Corp Limited announced that it had been granted a license to operate a casino at its Deltin Suite in Goa.[5] On 6 April 2016, the Government of Goa extended the company's offshore casino license to operate casinos on the Mandovi River until 31 March 2017.[6] Deltin owns three offshore casinos in Goa, making it a dominant player there. It also owns a number of casinos in Goa, namely Deltin Royale, Deltin JAQK, Deltin Caravela and one luxury hotel, Deltin Suites. In March 2014, the company launched The Deltin a INR 4,000,000,000 property which is India's largest integrated casino resort in Daman, named as The Deltin. Since these casino gaming vessels are anchored on Mandovi River in Goa, Delta Corp has acquired jetties (Betim, Reis Magos, Barcolento) and six feeder boats in order to ferry its customers from the main land to the offshore casinos.[7] In July 2016, the company acquired a temporary license to operate casinos in Gangtok, Sikkim.[8] Through the acquisition of online poker site Adda52.com, they established their presence in India’s online gaming business. In a recent development, Delta Corporation, has announced that it has acquired shares in Halaplay Technologies Pvt. Ltd, the company which operates Halaplay, a fantasy sports website.
Deltin Royale
With five operational decks, Deltin Royale is Asia’s largest offshore gaming vessel and a premium casino. It offers 964+ gaming positions spread across 65,000 sq. ft. comprising 120+ gaming tables, 4 VVIP gaming rooms, and 60+ slot machines. It has India’s largest dedicated poker room – Royale Poker Room. The first-ever World Poker Tournament organized in India was proudly hosted at Deltin Royale.
Deltin JAQK
Operational since 2008, Deltin JAQK, with four decks, caters primarily to the value-oriented segment. It is spread across 40,000 sq. ft. and has a separate VIP gaming area, and offers 431+ gaming positions, comprising 50+ gaming tables and 15+ slot machines. It provides entertainment for the entire family, with a dedicated playroom and a crèche for toddlers. The casino is also equipped with an aqua bar and two VIP suites.
Deltin Caravela
It is an affordable gaming destination with 217+ gaming positions, spread across 25,000 sq. ft.
Jalesh Cruises
Delta Corp Daman Casino News Atlantic City
Delta Corp owns the right to operate and manage the casino on the first cruise vessel and also the right to operate casinos in all further cruise vessels of Jalesh.
Deltin Denzong
To expand gaming footprint to other regions, they partnered with Hotel Welcome Heritage Denzong Regency to set up a casino in Sikkim. The casino, which services the eastern region of India, offers 206+ gaming positions and is spread across 15,000 sq. ft. gaming area and has a separate VIP gaming area.
Deltin Nepal
They have joined hands with Nepal-based Everest Hospitality and Hotel Pvt. Ltd. to operate a casino in the 235-room 5-star Marriott Hotel in Kathmandu. This is in line with the Company’s strategy of expanding its imprint in the region. The casino is spread across 15,000 sq. ft. and has 220+ gaming positions, with a separate VIP gaming area.
Hospitality[edit]
Delta Corp currently owns one hotel in Goa and one in Daman:
- Deltin Suites is a 106-room all-suite hotel and casino in Goa, with a gaming area aggregating 1,000 sq. ft. with 59+ gaming positions, located at a distance of 5–10 minutes from the popular Candolim and Calangute beaches, it is close to the boarding points for the offshore casinos.
- The Deltin, Daman is a 176-room five-star deluxe property and the largest integrated resort spread over 10 acres, with 3,00,000 sq. ft. of developed area. It offers the largest banquet facility in the area, with three bars, four specialty restaurants, 27,000 sq. ft. of indoor event catering to Weddings and MICE space, and 8,000 sq. ft. high-end retail space. The hotel is a 2.5-hour drive from Mumbai, and a similar driving distance from major cities in Gujarat.
The company also owns a 35% equity share in Advani Hotels & Resorts India Limited. However, this is not operated or controlled by Delta Corp.
See also[edit]
References[edit]
Delta Corp Daman Casino News Pa
- ^'Delta Corp Annual Report'(PDF). Delta Corp.
- ^'Delta Corp Ltd'. wikibusiness.org. Retrieved 8 September 2016.
- 'Delta Corp Ltd'. www.deltacorp.in. Retrieved 8 September 2016. - ^'Delta Corp Ltd'. Edelweiss. Retrieved 23 February 2017.
- ^'Delta Corp Ltd'. The Economic Times. Retrieved 23 February 2017.
- ^'Delta Corp inches up after bagging license for a casino in Goa'. Business Standard. Retrieved 8 September 2016.
- ^'Delta Corp surges as Goa extends offshore casino licenses'. The Economic Times. 7 April 2016. Retrieved 23 February 2017.
- ^'Delta Corp: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Delta Corp'. profit.ndtv.com. Retrieved 8 September 2016.
- ^'Delta Corp acquires temporary license to open new casino in India's Sikkim state'. Calvin Ayre News. Retrieved 8 September 2016.