Operator News
India – Delta Corp asks for licence fee waiver as losses mount
By Phil - 12 October 2021
Delta Corp has asked the Government of Goa for a waiver/reduction/proportionate payment mechanism for casino licence fees for the period of shut down.
The operator said: “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. 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.”
The operator reported a consolidated net loss of Rs22.57 crore (US$3m) for the three months to September 30 2021, down from from the US$3.8m loss in the previous quarter and down from the US$7.3m in the third quarter of last year.
The company said: “Due to COVID-19 pandemic and the consequent lock downs announced by the Government of India, the operations of the company were suspended since the third week of March, 2020 to October, 2020. During the current financial year also, consequent to the lock down due to the second wave of pandemic announced by the
state governments, the group could operate only partially.”
For a part of April 2021 its casinos could operate at 50 per cent of normal capacity and with effect from September 20 2021 with restrictions. Its hotels in Goa could also only operate at 50 per cent of normal capacity and with effect from July 5 2021 with restrictions. Its casino at Sikkim was able to operate from April 2021 and part of May, 2021 at 50 per cent of normal capacity and with effect from August 16 2021 with restrictions.
The company said it ‘has assessed the potential impact of COVID-19 on the recoverable values of its financial and non-financial assets and impact on revenues and costs.’
