Delta Corp Ltd

Delta Corp Limited (DCL), incorporated in 1990, is India's leading listed casino and gaming company. The Company is the largest organized player in the industry. It has presence across all the formats of gaming i.e. Live, Electronic and Online. It currently operates in Goa, Daman and Sikkim in the Gaming and Hospitality segment. It owns and operates under both offshore and land-based licenses, supplementing the casinos with hospitality assets. Delta Corp., the largest gaming company in India was incorporated as 'Creole Holdings Company Private Limited' on November 5, 1990. The Company became a deemed public limited Company due to the acquisition of shares by Finolex Group and the name of the Company was changed to Creole Holdings Company Ltd on June 2, 1992. On September 25, 2003, the status of the Company was converted into a private limited Company on September 15, 2006. During year 2006-07, as per the Scheme of Amalgamation, the company named Arrow Webtex Ltd merged with the Company with effect from April 1, 2005. Pursuant to the scheme, the name of the company was changed from Creole Holdings Company Limited to Arrow Webtex Limited with effect from May 18, 2007. Further, the Company changed the name from Arrow Webtex Limited to Delta Corp Limited with effect from 31st October, 2008. In November 2006, the company completed the expansion plan at the Narrow Woven Fabric division. During the year 2007-08, the acquired the equity shares of AAA Aviation Pvt Ltd, AAA Real Land Developers Pvt Ltd, J M Real Estate Pvt Ltd, Jayem Realty Solutions Pvt Ltd, Delta Pan Africa Ltd and Richtime Realty Pvt Ltd and thus these companies became the subsidiaries of the company. Further, the company divested 10,000 equity shares in Aryanish Finance and Investments Pvt Ltd, thereby the said company ceased to be a subsidiary company. In December 2007, Highstreet Cruises and Entertainment Pvt Ltd, a subsidiary company purchased 100% equity of Victor Hotels and Motels Ltdhe company through their subsidiaries took up new projects and business ventures in entertainment and gaming aviation and hospitality. In January 2008, the company entered into a joint venture with the Reliance Industries Ltd, and formed a company namely Delta Corp East Africa Ltd for developing real estate projects in East Africa. They incorporated AAA Aviation Pvt Ltd to handle the aviation business and provide chartered flights. The company's subsidiary Highstreet Cruises and Entertainment Pvt Ltd, which is operating the gaming business established a 15,000 sq ft gaming Casino Vessel called the 'Casino Royale Goa', which is operating on the Mandovi river in Goa. It is India's largest indigenously built-casino live gaming and entertainment vessel. In addition, they established a approx 5,000 sq ft off-shore casino vessel known as the 'King's Casino' situated on the Mandovi river in Goa. During the year 2008-09, the company de-merged their textile business into a separate company called Arrow Textiles Ltd with effect from April 1, 2008. They commenced flight-chartering services during the year. The company acquired 100% equity shares in Mundus Hospitality Pvt Ltd for a total consideration of Rs 77.52 lakh. Also, they acquired 100% equity interest in Delta Holding USA Inc for a total consideration of Rs 428.20 lakh. The company divested their shares in AAA Real Land Developers Private Limited and JM Realty Management Pvt. Ltd and thereby the said companies ceased to be subsidiaries of the company. In addition, they divested 22,000 equity shares in Pavurotti Finance & Investment Pvt Ltd, thereby they decreased their holding interest from 43% to 21%. In November 2008, the company commenced their operations in Casino Royale, India's largest entertainment vessel that can cater to 888 customers at a time, including approximately 450 gaming customers. In March 2009, Dacapo Brokerage India Pvt Ltd acquired 55.87% interest in the company. The joint venture company, Delta Corp East Africa Ltd has made a tie up with with Team Management Services (TMS) Consulting Group Ltd, a multidisciplinary firm that specializes in offering consultancies in all major areas of the built environment including Architecture, Construction Management, Project Management and Engineering. The company is in the business of hospitality segment through their subsidiary, Delta Hospitality Pvt Ltd. This subsidiary owns 35% equity in Advani Hotels and Resorts India Ltd, which owns Ramada Hotel, a five star, beach-front property and Casino Goa, an offshore casino in Goa. In addition, the company formed a joint venture with Peninsula Land Ltd, namely PLL-Delta Hotels Pvt Ltd for setting up 3 and 4 star business hotels in urban locations in Western and Southern India. The company acquired riverine land of 810.85 square meters at Betim and 2,700 square meters at Reis Magos village to develop jetties, which will provide feeder services to the casinos. Delta Corp East Africa Ltd is developing two commercial projects and they intend to commence development work on the remaining projects in the near future. During the first quarter of the financial year 2009-10, J M Real Estate Pvt Ltd and Jayem Realty Solutions Pvt Ltd, ceased to be the subsidiaries of the company and Pavurroti Finance and Investment Pvt Ltd, ceased to be the associate of the company. During the year 2014-15, Delta Holdings (USA) Inc. ceased to be a subsidiary of the Company. During the year 2015-16, Interactive Gaming & Sports Pty Limited, iGAS Services Pty Limited, Results International Pte Limited, Results International Pty Limited, Canbet UK Limited, Canbet Sports Bookmakers UK Limited and Buddy Communications and Productions Pte Ltd ceased to be subsidiaries of the Company. During the year 2016-17, Atled Technologies Private Limited, Caravela Casino Goa Private Limited and Delta Lifestyle and Entertainment Private Limited ceased to be subsidiaries of the Company. During the year 2017-18, Caravella Entertainment Private Limited (formerly known as Caravela Casino Goa Private Limited), Gaussian Networks Private Limited, Gaussian Online Skill Gaming Private Limited, Gaussian Software Private Limited and Mind Sports League Private Limited became subsidiaries of the Company. Further, during the year Freedom Charter Services Private Limited cease to be a joint venture and Delta PAN Africa Limited and Delta Corp East Africa Limited ceased to be subsidiaries of the Company on account of liquidation. To expand the gaming footprint to other regions in India, in April 2016, the Company partnered with Hotel Welcome Heritage Denzong Regency for a casino in Sikkim. The hotel is leasing the gaming space to Delta, which would be responsible for the day-to-day operations and management of the new casino. It obtained a licence from the Government of Sikkim to operate the casino in January 2017. During the year 2018-19, Deltin Nepal Private Limited became subsidiary of the Company. Further, Halaplay Technologies Private Limited and Jalesh Cruises Mauritius Limited became Associate Companies of the Company. The Board of Directors of the Company at its meeting held on 28th March, 2020 had approved a proposal to buy-back of its fully paid-up equity shares of face value of Re. 1/- each (Equity Shares) from the members of the Company (except promoters and persons in control of the Company), representing 4.61% of its total paid-up equity share capital as on December 31, 2019. During the year 2019-20, Mind Sports League Private Limited ceased to be subsidiary of the Company. Further, Halaplay Technologies Private Limited and Jalesh Cruises Mauritius Limited ceased to be Associate Companies of the Company. In February 2020, Company expanded its operations by setting up Deltin International casino at Hotel Marriott, in Kathmandu, Nepal. As of March 2021, the e-Tourist Visa facility was extended to citizens of 171 countries. During the year 2020-21, Waterways Shipyard Private Limited became a Associate Company of Delta Corp Limited. During the FY2022-23, Daman Entertainment Private Limited and Daman Hospitality Private Limited got amalgamated with the Company, via Scheme of Amalgamation, and accordingly, all the assets and liabilities of Daman Entertainment Private Limited and Daman Hospitality Private Limited were transferred to the Company effective from 1st April, 2022. Deltin Zuri was launched in FY 2022-23, being the only land-based casino in picturesque South Goa. In FY 2024-25, Delta Corp's Board approved the demerger of its Hospitality and Real Estate business into a new entity. Later, Company has revised its demerger plan to ensure focused development of the Dhargalim Project in Goa, which is still in its early stages.