Delta Corp is a top-rated gaming company in India that offers services via properties across the country. This week, the company announced that for a three-month period ending on December 31, 2021, a huge increase in earnings were reported. Delta Corp enjoyed a more than 100% increase in earnings, recording Rs 307.65 crore ($41.7 million) during the time period.
Revenue Report Details
The financial reports for the quarter were released this week by the company. Gaming operations were strong, coming in at Rs 249.65 crore ($33.8 million). This was an increase from the same period last year when Rs 97.51 ($13.2 million) was generated. Hospitality earnings increased by 106% with $s 22.29 ($3 million) in earnings.
Delta Corp offers land-based gaming and online services in India. The company did, unfortunately, experience a drop in earnings from online operations. The report showed a more than 15% decrease to Rs 35.71 crore ($4.8 million). The company’s most recognizable sites include LeagueAdda.com, Adda52.com, and Adda52rummy.com.
The reports showed that profits for the quarter were up immensely with a huge increase, going from Rs 1.28 crore ($173,500) to a whopping Rs 70.38 crore ($9.5 million). The increase is due to varying conditions as the company was facing COVID-19 restrictions in 2020 while the virus had eased somewhat last year.
2021 Compared to 2020
When the COVID-19 pandemic hit the world in early 2020, casino gaming virtually stopped. Players were unable to travel to different countries for casino gaming and locally, players were restricted by closures of gaming venues.
For Delta Corp Limited, the company’s venues experienced closures for the past two years. Of course, things were worse in 2020 as we were in the height of the pandemic. Last summer, the company was able to reopen its Deltin Denzong Casino after being shut down for a few months. India had experienced a huge increase in positive COVID-19 cases at the time and closures were needed to slow the spread of the virus.
The company was able to reopen this facility, which helped to bring back a sense of normalcy and of course, revenues. Delta Corp was only allowed to reopen if they followed safety precautions, which they did.
For the most recent quarter, Delta Corp had reopened its venues in Sikkim and Goa, which helped to push revenue totals to new heights. The hope is that COVID cases continue to be low so that businesses such as the casinos can stay open, providing employment and entertainment to the locals and travelers.