Delta Corp invests $10 million in Jalesh Cruises

Posted On 11 Mar, 2019 0

Delta Corp., India’s only listed gaming and hospitality company, listed on Bombay Stock Exchange (BSE) as “DELTACORP” has announced through a regulatory filing on BSE that it has invested $10 million in Jalesh Cruises Mauritius Ltd. (JCML) through its subsidiary Gaussian Software Pvt. Ltd.

The BSE filling reads, “Gaussian Software Private Limited, a wholly owned subsidiary of Delta Corp Limited ("Company") has entered into an agreement on March 8, 2019 ("Agreement") to subscribe to 10,000,000 equity shares of Jalesh Cruises Mauritius Ltd ("JCML") for a total consideration amount of USD 10,000,000 (United States Dollar Ten Million only).”

The statement was filed in BSE on Friday, 8th March 2019. The acquisition of JCML by Delta Corp. will be completed in one or more tranches on or before 30th June 2019 and after completion, Gaussian will hold over 25% stake in JCML. The acquisition also includes the right for Delta Corp. to be the preferred partner to manage and operate casinos and gaming centres in Jalesh’s cruise liners.

JCML’s parent company Zen Cruises Pvt. Ltd. is backed by Essel Group and one of its promoters is Amit Goenka, son of Zee Group’s founder Subhash Chandra. In January, the company intended to start a leisure cruise line services from April this year with various entertainment facilities under the brand ‘Jalesh Cruises’. It will also have casino and gaming facilities on board.

'Karnika' is the name of the vessel that Jalesh will set sail from Mumbai to Goa next month. The vessel has 2,000 seats and several other locations and cruise ships are also to be added, the company claims. Jalesh is based in Mumbai but has plans to operate cruise services to various destinations in the Middle East too.

Delta Corp. is one of the industry leaders and owns Adda52, an online real money poker website that has seen enormous success. Delta Corp. recently completed 10 years and celebrated the occasion by inviting Finnish poker celebrity Patrik Antonius to Deltin Royale, one of its casinos in Goa. The company also recently bought a minority stake in HalaPlay. They have a good standing in the fantasy sports industry as well.

Last year, Indian Cruise Lines Association (INCLA) backed by Zee Group founder Chandra requested Union Minister Nitin Gadkari and PM Narendra Modi to allow gaming and casino operations on board cruise ships within Indian territorial waters. Keep reading for more such casino industry news as well as general gambling/gaming news from around the world.

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