Operator News
India- Delta looking ship shape as revenues grow by 64 per cent
By Phil - 25 April 2018
Goa casino operator Delta Corp saw a revenue surge of 64 per cent in the first three months of 2018 with revenues reaching US$33.4m due to strong results from its riverboat casinos.
The company, which is hoping new laws will allow it to move its riverboat casinos onto land, reported a GGR increase of 73 per cent to US$24.7m. Online poker revenues increased by 18 per cent from quarter to quarter reaching US$5m.
Union Gaming’s Grant Govertsen, said, “The biggest impediment to growth will be a lack of physical space to accommodate customers given that riverboat casinos have a finite amount of space. It is this reason that the move to onshore is so important for the company and for the shares. We are forecasting casino revenue growth of 26 per cent, 22 per cent and 18 per cent growth from FY19 to FY21. By FY22 we expect the company to begin land-based casino operations via India’s first IRs.”
Last month the Goa government said it would increase operating fees for its casinos by more than four times.
Mr. Govertson commented: “Either the fees will decline or some number of competitors will not survive and Delta will be the natural share gainer as it captures displaced customers.”
