Market Appreciates Delta Corp Acquiring Gauss Network

Today, Delta Corp announced that it is all set to acquire Gauss Network Pvt Ltd in part cash, part equity deal. Gauss network owns Adda52.com, India’s No1 poker site. Delta Corp announced in its disclosure to the stock exchanges yesterday that with this acquisition, which complements the gaming business, Delta Corp will widen its business horizon and increase its overall footprint, thereby consolidating its overall leadership position. The market seemed all too pleased with Delta Corp’s move that Delta Corp share price opened at around 4% rise on NSE.

With Gauss Network within its fold, Delta Corp will immediately gain leadership spot in the online poker space. The acquisition will offer business and growth synergies as well financial strength and flexibility. It will help expand the customer base and market penetration. The online gaming space in India is in its infancy and has immense growth potential, while it is well established worldwide.

Delta Corp share price is currently trading at Rs. 157.70.

Hardik Dhebar, Group CFO of Delta Corp, said that the online space would not eat up their existing business. The market is big enough to house both the segments. Globally, the two coexist. He also added that the consolidated revenue of Gauss Network in FY16 was Rs 47 crore, and EBITDA margins were in the 30%-35% range. Also, the company is debt-free and is cash generating.

Delta Corp had registered its best-ever quarter with revenue of Rs 108.65 crore in Q1 FY17 – a growth of 34.6% over the corresponding quarter in the last financial year. Delta Corp is the largest and only listed company in the gaming and hospitality segment in India. The company is in the top 500 picks for the quarter by Dynamic Levels. For details on the stock, visit Delta Corp share price history page.

Delta Corp Knows No Boundaries of Rise

Delta Corp continued its upward March and has hit a record high of Rs 154.60, up 7% on the NSE in intra-day trade.

So far in August, Delta corp share price has hiked by 61% from Rs 96 after the company reported a consolidated net profit at Rs 20 crore for the quarter ended June 30 in the Financial year 2017 as compared to a net loss of Rs 1 crore in the same quarter last financial year. The S&P BSE Sensex was down nearly 1% during the same period.

The company is attributed strong owing to its better-targeted marketing and getting on board the right customers that resulted in a steady income flow and increasing customer numbers. The company announced that its income streams are steady and are bound to translate into greater revenue and growth in the months to come. The floatel, Casino Deltin Caravella, operational in Goa, is expected to add to revenues and profitability.

While Delta corp has been surging for the entire month, Nifty Finance had to settle for the month’s return of 0.01.

Since July 26, the Delta corp share price surged 70% from Rs 91, after the company said it signed a leave and license agreement for premises in the Denzong Regency Hotel, Gangtok, Sikkim, to operate a casino.

Currently, Delta corp share price is trading at Rs. 152.80, up 4.25% on NSE, as compared to 0.05% decline in the benchmark index. So far, over 38 Lakhs shares have changed hands over the NSE trading window. The stock is among the top 500 performers identified by Dynamic Levels. For more details, check Delta corp share price history page of the website.