Indian gaming operator Delta Corp saw its income grow 18.7% year-on-year to 213.53 crore (US$32.4 million) in the three months to 31 March 2019, led by a 21.1% increase in casino income to 198.13 crore.
The results represented a slight sequential decline on 4Q18 results but were up across the board when compared with the same period last year, including an 11.0% rise in income from online operations to 37.22 crore (US$5.6 million) and a 7.9% increase from hospitality and other operations to 23.61 crore (US$3.5 million).
Net revenue grew 19.1% to 204.29 crore, pushing profit for the period up from 45.25 crore in 1Q18 to 56.72 crore.
Delta Corp operates three offshore casinos and a hotel-casino in Goa, Casino Deltin Denzong in Sikkim and The Delton integrated resort in Daman.
Union Gaming’s Grant Govertsen noted that Delta Corp continues to present a strong growth story, buoyed by the launch of a traditional cruise line and the impending move of its casino ships in Goa to land.
“Beyond strong tourism growth to Goa (management noted footfalls up 40% year-on-year in March), the gaming operations segment will see incremental revenue commencing later this month with the launch of a traditional cruise line (Delta is a 25% shareholder) on which Delta will manage the casino and capture virtually all of the economics,” he said. “This is likely to grow to management of up to four cruise ships over the next two years.”
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