Delta Corp Limited gets license to operate casino in Nepal!
The citizens of the country know that Delta Corp Limited previously known as Arrow Webtex Ltd is the only listed company in India that operates casinos and is engaged in the online gaming industry. The company’s subsidiary said in the press note yesterday, that the operations of the casino at the Marriot Hotel in Kathmandu are “expected to commence soon”.
“Our subsidiary in Nepal has been issued a license for operating a casino in Nepal,” Delta Corp confirmed. The casino operator's share price rose to 3.35% to INR 203.75 and the stock exchanges stated that it intends to operate in the Nepal property of the five-star hotel, making it the firm’s first venture outside the Indian gaming market.
Although a Memorandum of Understanding (MoU) for the leasing space at the hotel has been signed with the Everest Hospitality and Hotels Private Limited, a Nepal-based hospitality firm MS Group. The Delta Corp did not give any definite period by which the casino process in the Himalayan state may resume. However, at the time of signing the agreement, Marriot which comprised of 214-room was under construction which opened in July 2019.
Apart from Delta Corp operating casinos, the company also owns the online poker site Adda52, and the online rummy site Adda52rummy and the online fantasy sports LeagueAdda. Also operating the Deltin Suites which is a 106-room located in Goa. A 176 room five-star hotel in Daman, which is an integrated resort with a proposed casino.
In addition to the Delta Corp, other Indian casino companies like Goa’s Pride Group as well as Sikkim’s Mahjong Group is already running casino operations in Nepal. A host of few casino venues, Tiger Palace Resort Bhairahawa operated by Silver Heritage Group Ltd near the border of Uttar Pradesh and Silver Heritage at the Millionaire’s Club and Casinos in Kathmandu also manages gaming.
Delta Corp had planned to take on projects outside India, “in line with its strategy of expanding in the region.” Though the local Nepalese residents are prohibited from entering the casinos in Nepal they are reliant on the Indian crowd. The government of the country taking steps for streamlining and updating its casino policies to enable foreign investments in the sector and further boost tourism.
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