Delta Corp receives casino license, stock shines

On Thursday, Delta Corp. informed the bourses that its subsidiary has been issued a license for operating a Casino in Nepal. The company had earlier entered into a Memorandum of Understanding (MoU) for leasing space at the five star Marriot Hotel in Kathmandu, Nepal, to operate a casino. The operations of the casino at the Marriot Hotel in Kathmandu are expected to commence soon.

In the second quarter of FY20, the company reported revenue of Rs 247.2 crore as compared to Rs 248 crore in Q2FY19. EBITDA during the quarter grew by 3.5 per cent YoY to Rs 81.4 crore with a corresponding margin expansion of 122 bps. Profit after tax in the quarter was at Rs 58.9 crore, up by 19.1 per cent YoY.

In today’s trading session, the stock of Delta Corp. was trading in positive bias. The stock opened with a gap up at Rs 204.2 apiece from the previous close of Rs 197.15 and surged nearly 5 per cent to touch an intraday high of Rs 206.65.

Delta Corp. is involved in gaming, entertainment, aviation, and hospitality.