India’s largest and lone publicly traded gaming and hospitality company Delta Corp Ltd. is in for a good start in 2016 as its revenue soared by 34.6 percent in the first quarter of the year due to increased customer numbers.
In a disclosure to the National Stock Exchange of India, Delta announced that it posted a record high of INR 108.65 crore revenue (US$163.43 million) in the first three months of 2016 against the INR 8,072 lakh (US$12.1 million) profit it gained in the same quarter in the last financial year.
On the other hand, Delta’s quarter to quarter growth is up 28 percent.
Hardik Dhebar, Delta Corp’s Group Chief Financial Officer, said in a statement: “The first quarter has demonstrated how the year will unfold. Historically, our second and third quarters have also been the most robust. This is enough indication of what is to come.”
Delta attributed the company’s positive revenue to a batter targeted marketing and getting on board the right customers. This, according to Delta, resulted to a stable income flow.
The company also saw a rise of customer numbers in the first quarter of 2016, according to Delta.
Delta’s operations in Goa, where majority of the profits of the company came from, posted a positive revenue after it has become a year-round destination for local and foreign tourists unlike before when it is only just a seasonal tourist getaway.
Delta Corp holds three of the six issued offshore gaming licenses in Goa and has an integrated casino resort in Daman, with full benefits of the casino to accrue soon. The company also has three luxury hotel properties in Goa-Deltin Suites, Deltin Palms, and Villa Marina by Deltin.
Meanwhile, Delta Corp is set to launch its “floatel casino” in Sikkim – Casino Deltin Denzong after it has obtained a provisional license to operate. Called the Casino Deltin Caravella, Delta Corp said it expects the floatel to add revenues to their company.