Jaydev Mody, the chairman of Delta Corp Ltd, has announced plans to take the company public by the end of the year.
On Business Today TV, Jaydev told Udayan Mukherjee that he thinks he can finish the entire IPO process by the end of the year and that they have been in touch with various merchant bankers and investors.
Delta Corp Ltd is India’s only listed company engaged in the casino gaming industry. Delta Corp was formed in 1990 as a textile and real estate consultancy company but has since diverged into casino and online casino gaming.
What Does Delta Corp Ltd Going Public Mean For The Future Of Their Casinos?
Mody stated that Delta Corp going public is a way for them to grow their online business in the multi-gaming platform. Mody went on to say that many online casinos operate illegally inside the country without holding proper licensing and paying taxes to run legally.
Delta Corp recently opened a new resort in Daman and is in the process of receiving a license for casino operations. Mody believes that the Daman location could do at least 20% of their top line and contribute to the company’s overall success.
Are Domestic Casinos Legal In India?
Domestic casino locations are legal, but they only operate in three states: Goa, Sikkim, and Daman. Delta Corp has casino locations in all three states and an international casino.
The Delta Corp locations in India are as follows:
- Goa Casinos: Deltin Royal, Deltin Jaqk, Kings Casino, Deltin Suites
- Sikkim Casinos: Deltin Denzong,
- Daman Casinos: The Deltin
Are Online Casinos Legal in India?
Gambling laws do not address online casinos and are there for legal on the state level. Online casinos in India are permitted, but the most popular sites operate outside the country. Even though Delta Corp does have online casinos, most Indian residents choose to play online casinos from trusted offshore gaming jurisdictions.
Some reasons why Indian residents choose to play offshore are the bonus options, cryptocurrency banking options, and the variety of games available. Some games you can find online include Online blackjack, Live dealer games, poker, Pia Gow, Roulette, Keno, Slots, and much more.