Delta Corp's Total Revenue Plummets on Back of Casino Closures

Delta Corp L🐼td, India's only publicly listed casino operator, published its quarter three financial results on M🌱onday with the brutal news that total revenue of Rs. 460.50 million (US$6.2m) was down nearly 80% on the same period last year.

The three-month period ending September 2020 showed a nꦉet loss of Rs. 549m versus a Rs. 590m profi🐲t in Q3 2019.

While ꧒the complete closure of the company's casinos in Goa and Sikkim due to coronavirus measures proved a mighty blow, perhaps of more concern to stakeholders and shareholders is the news that the firm's online operations were down around a fifth on Q2 of this year.

That's still a rise of 8.9% on Q3 202🐈0, but questions will be asked about the decline from Q2 2020 of Delta's online poker and rummy opera꧙tions.

The results are certainly disappointing but more positive news from the last month is that casino💮s in India were able to reo🍌pen from November 1, and the Goa state governওment has allow♔ed casino operators to pay annual fees on a monthly basis instead.

At the end of October, Delta announced it was taking a stake iಞn a 🧸shipyard building casino vessels.