Delta Corp Limited ("Delta Corp") is the only listed company engaged in the casino (live, electronic and online) gaming industry in India. They, along with their Subsidiaries, currently own and operate casinos in India, in the states of Goa and Sikkim, offering approximately 1,800 gaming positions. In addition, they have also ventured into the fast-growing online gaming space through our acquisition of Gauss Networks Private Limited, which operates the online poker site 'Adda52.com'. their early-mover advantage has helped us secure a leadership position, with their Company holding three of the six offshore gaming licenses issued in Goa, one land based casino in Goa and one in Sikkim; and three online gaming sites.
Goa :
Delta Corp owns and operates three offshore casinos in Goa out of a total of six offshore casino licenses and also one land based casino. The total number of gaming positions in Goa is about 1,600. A brief description of these casinos is as under:
Delta Corp owns and operates three offshore casinos in Goa out of a total of six offshore casino licenses and also one land based casino. The total number of gaming positions in Goa is about 1,600. A brief description of these casinos is as under:
Deltin Royale, Goa is India's largest live offshore gaming vessel. The ship has more than 950 gaming positions across 118 tables and 60 slot machines. The five-level casino also has an in-house dining and entertainment restaurant 'Vegas' and an exclusive lounge 'Whiskys', with an extensive single malt collection. It is also home to the Royale Poker Room, India's largest dedicated Poker room. It also offers private gaming suites for select guests.
Deltin JAQK, Goa is one of India's leading live offshore gaming casinos with about 450 gaming positions comprising more than 50 live gaming tables. Offering international games, live entertainment daily, and separate VIP gaming areas, the casino is also equipped with a helipad, and is serviced by high speed feeder boats from multiple jetties. The casino also houses a crèche and playroom for children, an Aquabar, and 2 VIP suites.
Deltin Caravela, Goa, is India's first off-shore gaming casino and the only floating hotel with a casino in India. It offers more than 150 gaming positions comprising 20 live gaming tables and 10 slot machines.
Deltin Suites Casino
We commenced operations of our first land based casino at Deltin Suites, our five-star property in Goa in December 2015. This marked our entry into the onshore gaming space helping them expand our imprint beyond the offshore space. The casino offers about 60 gaming positions.
Sikkim, Daman and Online:
Deltin Denzong Casino, Sikkim
On July 26, 2016, They entered into a leave and license agreement for license of premises located in the hotel Denzong Regency in Gangtok, Sikkim. They have since commenced casino operations pursuant to a license issued to them by the Government of Sikkim. The casino offers more than 200 gaming positions across 26 live gaming tables
On July 26, 2016, They entered into a leave and license agreement for license of premises located in the hotel Denzong Regency in Gangtok, Sikkim. They have since commenced casino operations pursuant to a license issued to them by the Government of Sikkim. The casino offers more than 200 gaming positions across 26 live gaming tables
Deltin Daman Casino
In March 2014, we launched The Deltin, Daman, India's largest integrated casino resort. It is a five-star hotel with 176 rooms and banqueting facilities, ideally located to attract guests from Maharashtra and Gujarat. We are currently awaiting the gaming license for the same, pursuant to which we believe we will be in a position to provide a complete gaming and family entertainment experience at this hotel. The casino, when operational, is proposed to be spread over approximately 60,000 sq. ft. and is expected to have in excess of 1200 gaming positions. We believe that upon commencement of casino operations, The Deltin will be the only integrated casino resort of its size in India.
In March 2014, we launched The Deltin, Daman, India's largest integrated casino resort. It is a five-star hotel with 176 rooms and banqueting facilities, ideally located to attract guests from Maharashtra and Gujarat. We are currently awaiting the gaming license for the same, pursuant to which we believe we will be in a position to provide a complete gaming and family entertainment experience at this hotel. The casino, when operational, is proposed to be spread over approximately 60,000 sq. ft. and is expected to have in excess of 1200 gaming positions. We believe that upon commencement of casino operations, The Deltin will be the only integrated casino resort of its size in India.
Adda52.com
'Adda52.com' currently offers online games of poker. It currently holds number one position in India in Online Poker business. The other website 'Adda52rummy.com' offers online games of Rummy.
'Adda52.com' currently offers online games of poker. It currently holds number one position in India in Online Poker business. The other website 'Adda52rummy.com' offers online games of Rummy.
Now Main Point
The company said its board approved a proposal to buyback shares worth up to Rs 125 crore at a price not exceeding Rs 100 per share.
Delta Corp on Saturday (28 March) said that at the maximum buyback price and the maximum buyback size, the indicative maximum number of equity shares bought back would be 1,25 crore equity shares, comprising approximately 4.61% of the total paid-up equity share capital of the company, as of 31 December 2019, on a standalone basis.
The company said it will utilise at least 50% of the amount earmarked as the maximum buyback size for the buyback. Based on the minimum buyback size and maximum buy-back price, the company would purchase a minimum of 62.50 lakh equity shares.
As on 28 March 2020, the promoters and promoter group held 32.77% stake in the company.
The stock has added 15.97% in three sessions from a recent closing low of Rs 53.85 recorded on 25 March 2020.
What is Buy Back ???
Buy-Back is a corporate action in which a company buys back its shares from the existing shareholders usually at a price higher than market price. ... A buyback allows companies to invest in themselves. By reducing the number of shares outstanding on the market, buybacks increase the proportion of shares a company owns.
is it Beneficial for Share Price?
A buyback reduces the number of shares in a company held by the public. ... In the near term, the stock price may rise because shareholders know that a buyback will immediately boost earnings pershare.
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