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India’s largest casino operator has been granted a gaming licence in Nepal.
India ’s largest casino operator Delta Corp has received a license to launch another casino in Goa. On Tuesday, Delta announced it had been granted a license to operate a casino at its Deltin. Overview: Asia's largest live offshore gaming casino with 5 operational decks; Covers an area of 40,000 sq. With gaming area of more than 24,000 sq. In a note following the publication of Delta Corp’s Q2 2020 financial results, DeCree forecast revenue in the company’s online segment to reach US$30.5 million in sales in FY22, which based on valuations of between 10x and 15x of sales for US online gaming businesses would imply a valuation of US$305 million to US$458 million.
Delta Corp share price declined 8 percent intraday on March 17 after the company closed its casinos in Sikkim to combat the outbreak of Covid-19. As a precautionary measure in view of the spread. Delta Corp Limited ('Delta Corp') is the only listed company engaged in the casino (live, electronic and online) gaming industry in India. We, along with our Subsidiaries, currently own and operate casinos in India, in the states of Goa and Sikkim, offering approximately 1,800 gaming positions.
Inkedin reports that Delta Corp has finally secured the gaming licence after first sticking a casino management deal in the country more than two years ago.
Delta Corp reported last Thursday that it has issued a licence for its Deltin Group subsidiary to run a casino in Nepal.
The announcement follows the company’s announcement in October 2017 that it had signed a memorandum of understanding with Everest Hospitality and Hotel Pvt Ltd to lease space at the Marriott Hotel being built in Kathmandu, Nepal’s capital.
At that time, Delta Corp proposed opening the 5-star, 235-room Marriott Kathmandu by June 2018.
The property did not start accepting guests until more than a year after that date, in July 2019.
Delta’s recent announcement avoided specifics about when it might actually launch its new casino, saying only that it expects to “soon” start gaming operations at the new hotel.
Delta is India’s only publicly traded casino operator and by far the largest in the country.
Delta runs three floating casinos and one land based location on Goa, one casino in Sikkim state and one hotel in Daman union territory.
The latter operation waited for approval to open a casino for years, without any sign of the arrival of that wonderful day.
Delta also runs an online poker and rummy business, small but growing.
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India is the primary customer source for the small number of casinos in Nepal, which remain off-limits for local residents.
Full-scale casinos (slots and tables) are allowed in five-star casinos, while electronic gaming operations are limited to four-star venues.
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The government of Nepal will welcome the opening of the Delta Casino, as it has pledged to boost international tourism through its Visit Nepal 2020 initiative.
Already awaiting Delta’s arrival are several potential casino competitors, including Australia’s Silver Heritage Group, the Sri Lankan-based Bally’s and Indian companies Pride Group and Mahjong Group.
Delta Corp approved for casino licensing in Nepal https://t.co/mDqfntGI60pic.twitter.com/eEIiJIIZKP
— 20black (@20black5) January 14, 2020
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Sri Lanka proposes $50 casino entry for nationals
The government of Sri Lanka has clarified that a proposed $50 casino entry fee would only apply to nationals, its Finance Minister says.
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International visitors would not be required to pay a casino entry levy in order to be admitted to the nation’s casinos, Casino News Daily reported in April.
News about Sri Lanka’s plans to introduce an entry fee on visitors wishing to gamble at local casinos first emerged last month and was tacked onto the country’s budget for the next fiscal year.
The casino entry was in conjunction with raised casino license fees and a turnover tax.
Each licensed casino currently operating in Sri Lanka is required to pay an annual licence fee of LKR200 million (US$1.1 million).
Lawmakers decided to double that fee to LKR400 million (US$2.2 million).
In addition to this, licensed casino operators will be obligated to pay an annual 15 per cent tax on gambling turnover, with the new tax taking effect on April 1.
While the increased licence fee and the new turnover tax are expected to have a particularly negative impact on Sri Lanka’s gambling industry, analysts believe that the entry fee could be the one to hurt the sector the most.
Being required to pay an entry fee will discourage players, particularly nationals, from gambling at local casinos, experts worked.
The tiny South Asian island nation has over the years attracted considerable interest among major players in the global casino industry.
In 2013, Australian gaming operators Crown Resorts confirmed that it was in advanced discussions with the government to develop a casino resort in the country’s capital Colombo.
Las Vegas Sands was also eyeing entry into Sri Lanka after a failed attempt in India.