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Delta Corp Close Casinos In Goa Due To Covid Surge; Stock Slips 1.5%
Due to an increase in COVID-19 cases in Goa, the District Magistrate's Office in North Goa has ordered that casinos in North Goa remain closed until 7 a.m. on May 10, 2021.
Shares of Delta Corp fell 1.55% on NSE at 12.08 PM IST on Tuesday after the company announced. It touched an intra-day low of Rs 151.10 during the trade.
Delta Corp Limited announced to the stock exchanges on Monday that the company's and its subsidiaries' casinos in Goa will remain closed until May 10, 2021.
Delta Corp's consolidated net profit increased 100.73 percent to Rs 57.65 crore in Q4 FY21 over Q4 FY20, thanks to a 16.81 percent increase in net sales to Rs 211.34 crore.
As a result, the company's and its subsidiaries' casinos in Goa will remain closed throughout this period. "At this time, we are unable to quantify the magnitude of possible losses due to this temporary closure and the pandemic," the company said.
Delta Corp Limited is India's only publicly-traded company involved in casino (live, electronic, and online) gaming. They currently own and run casinos in India, in the states of Goa and Sikkim, with a total of approximately 1,800 gaming positions.
In addition, through the acquisition of Gauss Networks Private Limited, which runs the online poker site 'Adda52.com,' they have entered the fast-growing online gaming space.
