Delta Corp's Q1 FY2024 results show mixed performance. Consolidated revenue increased to ₹184.17 crore, but profit after tax decreased to ₹29.46 crore. Gaming operations grew by 3.81%, while hospitality declined by 2.76%. The company faces ongoing GST litigation with notices totaling ₹23,207.30 crore. Legal expenses have increased due to Supreme Court hearings. The Board approved amendments to ESARP-2019, set a dividend record date, and scheduled the AGM. Delta's subsidiary plans to acquire and renovate a 107-room hotel in Alibagh, Maharashtra.
Delta Corp to Merge Deltatech Gaming with Head Digital Works in ₹491 Crore Deal
Delta Corp's subsidiary, Deltatech Gaming Limited (DGL), is set to merge with Head Digital Works Private Limited (HDW) in a ₹491 crore deal. The merger will occur in two phases: HDW will first acquire 51% of DGL, followed by a complete merger. Post-merger, Delta Corp will hold a 5.7% stake in HDW. This consolidation combines DGL's Adda52 poker platform with HDW's 'A23' brand, creating a strong entity in India's online gaming market, particularly in poker and rummy segments. The deal values DGL at ₹4,912.59 crore and is expected to complete by June 30, 2026, subject to approvals.