Delta Corp - A huge but risky opportunity


(amberjain2001) #42

No merger on card at this moment when both of them are being ruled by BJP…confirmed by local news paper


#43

What is surprising is that gambling laws are one for Goa, daman etc i.e. ‘The Goa, Daman and Diu Public Gambling act 1976’. So first that act has to be repealed and new act for individual places since merger will not lead to repeal of act automatically. This seems difficult one to put in place in short period of time even if merger goes through. I think there are various factors and vested interests that will prevent its announcement. Link below suggests not happening. Nothing is impossible though.

Disc: Invested.


#44

Many triggers like Daman opening, Sikkim ramp up and online biz integration ahead but huge potential dilution of 15-20% is a serious dampener for me. Will have to wait for details on fund usage plans to take call. They acquired poker site and looks like some rummy site is on their radar. Also heard rumour that two existing but non operational licenses are up for sale in Goa.


(amberjain2001) #46

When is Daman going to realize…any news…any sources and reasons for delay?


(hrfacebuk) #47

HDFC MF enters Delta Corp with almost 6% holding.
http://www.bseindia.com/corporates/shpPublicShareholder.aspx?scripcd=532848&qtrid=93.01&QtrName=


#48

Wish I knew the answer. Everyone is waiting but the local authority is delaying for some reason or other. This is the first casino in Daman so admin wants to be fully prepared with pros and cons before allowing it. They put a hard to fulfill condition of allowing in 5 star hotel only so Delta went ahead and built it. I have been to Daman and there is practically no biz case to build a 5 star property there. The place mostly attracts Gujarati tipplers in search of cheap booze. I have another hypothesis that they might want delta to buy out hotel partner so that hotel and casino remains as one entity. This could have forced them to raise funds. BTW fund raising was a complete behind the curtain event but massive subscription has happened. I am just assuming HDFC MF would have done proper due diligence.

Disc: Invested


(manishdhariwal) #49

Hi Jatin, the link is not opening. Is it possible to forward the report. Thanks


(roysavio) #50

Attaching a PDF of that page for you. Shareholding Pattern Public ShareHolder.pdf (18.6 KB)


(bullrun1988) #51

Yes jatin file is not opening.


(Jatin Soni) #52

Delta Corp Initiating Coverage.pdf (958.6 KB)

PFA


(amberjain2001) #53

Any analysis on the results for Delta
http://corporates.bseindia.com/xml-data/corpfiling/AttachLive/5308567d-4cd0-4d9c-b8b9-3409ee19b340.pdf


(roysavio) #54

Can someone please help me understand the consolidated EPS.

The EPS for Mar 17 quarter is 0.49. For the Mar 16 quarter it is 1.2.

However, the profits for Mar 17 are 1397.31 lakh and for Mar 16 they are 1419.54 lakh. The corresponding shares outstanding for Mar 17 are 2316.24 lakh (face value Re 1) while for Mar 16 they are 2306.64 lakh.

This means that the profits for Mar 17 and Mar 16 are similar and so are the number of outstanding shares.

So how did the EPS drop to less than half? Is it caculated only of the Net Profit and not Total Comprehensive Income?

Thanks in advance!


#55

EPS calculated from row no 16


(amberjain2001) #56

Is Daman Casino only waiting for approvals and all the infrastructure is in place…anyone has any news?


(amberjain2001) #57

Any update on Daman…and what impact to DC for the 700 vessel coming to indian waters for tourism


#58

good update on potential of online gaming in India.


(Mpant) #59

This doesn’t talk about online casino… Its online video games…
M I missing something


(Chandrasekar) #60

Which online rummy portal is likely to be part of Delta?


(Ranga) #61

Adda52 is the one which is part of Delta Corp


#62

Well, online gambling is only ~100cr out of total 1500cr market. Do you expect a separate report on the same? I find many positives in the report which gives a macro level view on behavioral pattern and evolution of gamers in India.

Online gambling (Poker, Rummy etc and not teen patti ) is here to stay. Other day, Bombay high court and earlier Supreme Court declared that online games can not be banned since they are not gambling strictly. So runway is getting ready and need to see who benefits from the same. Thankfully, Delta acquired Gauss which is growing at 30-35% on a small base (~50cr) with EBITDA margin of 30-35%.

Disc - Invsted