Delta Corp is a fast-growing Indian company operating primarily in two business segments – Hospitality and Gaming. It is also the largest and only listed company in this space. Delta Corp entered the Hospitality and gaming segment in 2008 with a view to provide an international gaming experience in India.Of the six offshore live casino gaming licences issued by the Government of Goa, Delta owns three, CASINO ROYALE,CASINO CARAVELA and the latest M.V. HORSESHOE(started operation just a month back). These gaming destinations offer a variety of international games, and a gaming experience similar to that in global gaming centres such as Las Vegas, Macau and Singapore
Delta owns a majority stake in Daman Hospitality Pvt Ltd and is all set to operate an onshore casino within a 5 star Hotel in Daman that will offer 1,000-1,500 gaming positions. In addition, Delta also has an expression of “in-principle” interest to set up a second onshore casino in Daman.Delta Corp also owns 11 acres of land in Srilanka and is set to develop gaming facilities on receiving the necessary approvals
Apart from gaming,delta corp has interets in hospitality sector.At present they have hotels in Daman and Goa. Deltin Suites and Villa de Penha hotels of Delta are considered as among the best in Goa.The company also has a real estate joint venture in Kenya with Reliance Industries(60:40)
Currently promoters hold about 41% in the company and the company is debt free.Looking at the financials of the company,one may not find it too interesting.But its the Gambling concept that makes me put money in it.The company has first mover advantage in this field and has set up necessary infrastructure.Now i believe that its harvesting time for the company.Goa may become the Las Vegas of India, and if so, Delta Corp with 3 out of 6 licences will be the main beneficiary.This is not a short term pick.Its a long term growth story.Investors with some risk appetite may take some limited exposure into this company at cmp of Rs62/-
The link to company's annual report is given below
Annual Report-13
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