Delta Corp, the casino and hospitality business backed by Rakesh Jhunjhunwala, does not anticipate Karnataka gambling ban to have an impact on its online skill gaming activities. Through its subsidiary Gaussian Networks, Delta Corp runs an online poker site called Adda52 and a rummy platform called Adda52Rummy. It launched Adda Games, a multi-game destination that includes fantasy sports and card games, earlier this year.
According to the resource, some of these gaming sites have filed an appeal with the Karnataka High Court, challenging the state’s online gambling statute.
At the company’s results conference call on Tuesday, Delta Corp group CFO Hardik Dhebar responded to a shareholder question on the impact of Karnataka’s recent gambling ban and percentage of online income from the market “At best, I don’t believe we have a contribution of more than 7-10%. At this time, we are looking at a small number of people from Karnataka.”
Growth of Online Skill Business
The company’s main activities, including as its casino and resort sector, were badly damaged by COVID-19-induced lockdowns, forcing it to stop operations for many months this year and last year.
Delta Corp produced Rs 183.37 crore in income from its online skill gaming business for the entire financial year ended March 2021 (FY21), up 13.09 percent from Rs 162.14 crore in FY20. For the fiscal year, the division generated 35.6 percent of the company’s gross sales.
Company stated that during an earnings conference call on October 12 that while they would continue to focus on poker, they are now investing in expanding the multi-game platform as well as the rummy platform. The multi-gaming platform Addagames, as well as the rummy platform, which has now been integrated into the multi-gaming platform, will function as a funnel to attract additional platform registrants. They will be able to get more visitors onto the poker website by using this funnel.
