News has just came in that India’s largest casino operator Delta Corp. reported a fall of 17% in its net profits for the fourth quarter of 2021 due to the Omicron variant affecting casino visits.
The operator posted a net profit of ₹48 crores in Q4 2021, almost 17% less than its Q4 2020 profits of ₹58 crores. The net sales increased by 3.3% to ₹218 crores during the three-months from January to the end of March, which was reported to be ₹211 crores in the same period a year ago. During the same period, the online gaming share of Delta increased to ₹42.5 crores from ₹39 crores in the previous year’s Q4.
The board of Delta Corp. has recommended a final dividend of ₹1.25 per equity share that will be paid within 30 days from the date shareholders approve it.
Due to the ongoing Covid-19 crisis, visitors were significantly declining. In addition, the election code of conduct was in place in Goa until February 14, 2022, which restricted the casino’s operations further. Delta operates floating casinos in Goa along with casinos in Sikkim and Nepal. Full-scale operations were only allowed in Sikkim from March 7, 2022, in Goa and February 11, 2022. There were no restrictions on operations in Nepal starting February 28, 2022. Delta Corp. also runs a hotel in Daman.
Despite all this, Delta Corp. continues to have a positive outlook. Delta Corp. Chairman Jaydev Mody said, “The Q4 results have given a good closure to the year; simultaneously, we are looking forward to a fantastic year ahead. The year has shown a steady and robust performance vis a vis the previous quarters and we expect full-fledged performance in the year ahead.”
