Delta Corp divests its shares in LeagueAdda to Halaplay
In a recent development, Delta Corporation, the parent company of Adda52 and a bunch of other ventures like casinos and hotels, has announced that it has acquired INR 15.5 Crores worth of shares in Halaplay Technologies Pvt. Ltd, the company which operates Halaplay, a fantasy sports website.
Delta Corporation is India’s only listed gaming and hospitality company in India. The company recently celebrated its 10-year anniversary with Finnish poker pro Patrik Antonius last December at their very own Deltin Royale in Goa.
Coming to the announcement, Delta Corp will now own 15.52% stake in the gaming portal Halaplay after a post-money evaluation of around INR 100 Crores. Delta Corp filed a regulatory filing in the stock exchanges which stated that the company has in 31,994 shares of Halaplay Technologies Pvt. Ltd.
“As part of the transaction, Gaussian Networks Pvt. Ltd., a wholly owned subsidiary of Delta Corp, has entered into a business transfer agreement to transfer its online fantasy gaming [LeagueAdda] as a going concern to Halaplay and will be allotted 10,320 equity shares of Halaplay resulting in Gaussian holding 4.03% of the share capital of Halaplay,” Delta Corp’s filing in the Bombay Stock Exchange reads. With this, Delta Corp hopes to strengthen its position in the online gaming space and will be looking to grab the piece of the pie of the fantasy gaming industry.
Coming to Halaplay, it is a fantasy sports portal which is touted to be the second biggest in the industry, after Dream11. The company was founded in 2016 by Swapnil Saurav, Ananya Singhal, Prateek Anand and Aman Kesari and claims to have around 2 million registered users. They reported gross turnover of INR 298.13 Lakhs and INR 0.57 Lakhs in FY 2017-18 and FY 2016-17 respectively. The company had received early-stage investment from Kae Capital and Nazara Technologies in November 2017.
The transactions between Delta Corp and Halaplay are expected to wrap up by 1st May 2019, the filling says, “subject to completion of conditions precedent, and do not require statutory/regulatory approvals.” Keep reading GutshotMagazine.com for more such news and for general gaming/gambling related news from around the world.
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