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But the company—which is India's only listed casino operator—said in an exchange filing that it didn't receive any tax notice. The company.


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Casino gaming in the Indian state of Goa could be worth up to US$1 billion in “​We expect the company to not only maintain this dominant market as it plans to acquire land located close to Goa's under-construction new airport. Corp also owns a small-scale casino resort in the state of Daman that is.


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Edited excerpts: What is your vision for Delta Corp? Forex Forex News Currency Converter. And our margins are pretty good. We started 10 years ago with one casino, then two and then three. It is a numbers game. We just had to market harder and sell harder and improve footfalls and work at our top line and we have recovered that hit substantially. Share this Comment: Post to Twitter.{/INSERTKEYS}{/PARAGRAPH} It is a very tough business, yes. We are planning to do an integrated resort which would have much more than hotels and gaming, it would have a water park and a lot of retail and a convention centre kind of a destination, an integrated resort. I do not see any reason why we cannot keep growing at that pace in the future. There is a political sensitivity when it comes gambling in India and regulatory hurdles as well. Read more on Delta Corp Ltd. What about online gaming? Market Moguls. But we have worked harder to overcome that cost and we have come out okay level. Fill in your details: Will be displayed Will not be displayed Will be displayed. Is that plan still on the anvil and how will that help your overall casino business? It already exists. About 30 years ago, it was Rs for a 5-star hotel room, today it is Rs 15, to Rs 20, and we are not in the business of hotels. We recovered pretty fast. If that is in line with what we hope it will be, then opportunities will keep coming. It would make sense politically because the chief minister has been asked by the people to get the ships moving out of the Mandovi. Follow us on. Lots of people claim that they make money in hotels and that may be true if you hold on to the asset for years where ARR changed. We just have to keep innovating and keeping our product and our quality of service, right up there. But all that depends on the casino policy and based on that, we structure our investment and our plan etc only after that. The business is there and we will keep growing. Download et app. Where do you see the company over the next three to four, five years? Now you have gone on record saying that you do not like dealing with the hotel business. It makes a lot of sense. So, we do not find too much going on there in terms of competition but we have two other businesses -- adda52rummy and the Fantasy business -- where we have started off and have start-ups and are fighting to get market share. To see your saved stories, click on link hightlighted in bold. Over last two years, demonetisation and increase in license fees, led to a significant correction in the stock price. Demonetisation gave us a dip only for a couple of months because most of our business was again on credit cards. The game changer of course, like you said maybe the casino policy. In the poker business, which is our adda52 brand, we are the leaders. Why is that and how do you see the hotel business shaping up? But a lot has to happen to make it a global kind of business, the most important one being taxation. And they could improve only if taxation is rationalised. Give us some projections. Expert Views. We are running a business. Market Watch. {PARAGRAPH}{INSERTKEYS}Celebration time! He thought the best thing would be to keep it close to the new airport, so that the rest of the state does not get affected. Could the new casino policy of the Goa government be a game changer for you? It is a win-win for everybody, for the government, for the people and for the industry. What is your vision for Delta Corp? We are on the ground floor. Markets Data. Zia, Jaydev Modi become grandparents to a baby boy. Goa does not have a lot of taxation or revenue coming in from anything else other than tourism and casinos. We are crazily taxed and to grow in this environment is extremely difficult and very challenging. It is not gambling for us. Can we assume that the margin picture will look healthy as well? Yes, the EBITDA margins have been pretty steady and they would not get affected in the future by more than a couple of percent here or there. If the government realises that there is a multi-billion dollar business out there in gaming -- but it is all grey market or below the radar -- and they tax it appropriately, it would all come into the organised sector and then the business can grow. The hotel business does not ever make money, according to me. Are you seeing a lot of competition here? Add Your Comments. We are still hoping that the government will look at it again and rationalise because the increase has been manifold and unreasonable. Jaydev Mody. Become a member. Technicals Technical Chart Visualize Screener. What had prompted you to acquire Advani Hotels? How did you overcame those headwinds? Then we started a land-based casino in our hotel which again added to our revenues. Commodities Views News. We just about started the business. That was our main concern and we were also keen on getting hotel room inventory in Goa and this was a good way to do it. They will look at it if they want the industry to survive. We started a casino in Sikkim which added to our revenue and now we are waiting for a license in Daman and an opening in Kathmandu that will drive revenues. The whole industry is about 10 years old and this is just the beginning and it has got a long way to go. Delta Corp Ltd. Over the past many years, you have overcome a lot of these hurdles as a business to sustain. The market is there. The travel time is less, there is no traffic in the river and all the allegations on so many other aspects of being in the river goes away. Pinterest Reddit. In Goa, it has become part of the economy now. We were very keen on acquiring their subsidiary called Advani Pleasure Cruise. Company Summary. I do not know where you got those numbers from but yes we are planning to invest, subject to the new land policy coming in. There is adda Is this going to be the next wave of strong growth? How has the journey been and where do you see it headed? We have seen gross gaming revenues grow as well as your overall visitations. For reprint rights: Times Syndication Service. They have realised that ours is a business, the gambling part is for the customer. All rights reserved.