Delta Corp Announces New Casino Vessel and Business Restructuring

Delta Corp Ltd has announced several key business updates, including the completion of a new casino vessel for the Mandovi River in Goa. The vessel is in the final stages of preparation, with commercial operations anticipated to commence in April 2026, subject to regulatory approvals. Additionally, the company is pursuing a demerger to separate its gaming and hospitality businesses into two distinct entities. This restructuring is pending approval from the National Company Law Tribunal and aims to provide a more focused strategic direction.

The company has invested in a real estate platform in collaboration with Alpha Alternatives Fund Advisors LLP and Peninsula Land Limited. This platform has acquired land parcels totaling investments of over ₹190 crore across Bhilavale, Karjat, Sogaon, and the Alibaug region. Delta Corp’s contribution to this investment amounts to ₹23 crore. The platform plans to begin marketing and selling small-sized residential plots in the first quarter of FY 2026–27.

Operationally, Delta Corp owns and operates a 176-room integrated five-star resort named “The Deltin” and a 106-key all-suite five-star hotel in Nerul, North Goa. The company is also progressing on a new 375+ key hotel and casino project in Panjim, with a soft launch targeted for the last quarter of FY 2026–27. Furthermore, Delta Penland Limited, a subsidiary of Delta Corp, acquired a 100-key hotel property in Alibaug, which is undergoing furnishing and is expected to be operational by the last quarter of FY 2026–27.

Delta Corp is addressing the impact of a GST rate increase to 40% on the sale of gaming chips, which has materially affected profitability. The company is implementing operational and efficiency-led initiatives to mitigate this impact and is engaging with the government to advocate for taxation based on Gross Gaming Revenue (GGR).

The company is awaiting judgments on two legal matters. The GST Department matter is pending before the Hon’ble Supreme Court, and the casino license matter for its hotel in Daman is at the final hearing stage before the Hon’ble High Court of Bombay. Delta Corp will provide updates upon material progress in these cases.

Delta Corp Ltd is a prominent player in the gaming and hospitality sectors, focusing on expanding its presence in Goa and other regions. The company is committed to strategic growth through prudent capital allocation and operational discipline, while maintaining transparent communication with stakeholders.