India’s biggest gaming company, Delta Corp, says it has asked the government of Goa to either waive or provide a reduction on its casino license fees for periods in which its casinos have been closed due to COVID-19.
The request comes as Delta Corp announced on Monday an Rs22.57 crore (US$3.0 million) loss for the three months to 30 September 2021, slightly reduced from the Rs28.24 (US$3.8 million) loss in the June quarter. It was also significantly reduced from a loss of Rs54.91 crore (US$7.3 million) in 3Q20.
Nevertheless, Delta Corp said it had requested a waiver or reduction in license fees for part of 1H21 and 3Q21 due to the closure of casinos, which shut their doors in March and only reopened this month, with restrictions still in place. The company added that it has set aside a total of Rs26.67 crore (US$3.5 million) in fees for the year to date through 30 September 2021 but actual payment has not yet taken place.
“Due to the pandemic situation, the stress on the operations and the representations made, the management is hopeful that the Government of Goa may consider its request favourably,” it said.
“In such a situation, the provision of license fees made in the books may not be payable in full or in part, as per direction of the Government of Goa.”
Delta Corp’s 3Q21 results included income from gaming operations – comprising its three offshore casinos and the Deltin Suites hotel and casino in Goa – of Rs 40.05 crore (US$5.3 million), which was largely flat with Q2.
Income from online games of skill fell both year-on-year and quarter-on-quarter to Rs 40.45 crore (US$5.4 million), while income from hotel operations increased to Rs 12.53 crore (US$1.7 million).
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