Delta Corp initiates buy-back plan

Delta Corp. has initiated an Rs. 125 crore (US$16.7 million) stock buyback plan in an attempt to arrest the sharp decline in its share price due to the closing of its casinos in Goa and Sikkim.

The casino shutdowns were a result of a directive from the Indian government and a subsequent 21-day lockdown due to the coronavirus outbreak in the country. 

Under the buyback scheme, Delta Corp will be permitted to buy-back its fully paid-up equity shares from members of the company, up to around 4.61 percent of the total equity share capital of the company at maximum buy-back price. 

SHARE

Related Articles

Delta Corp ship

Delta cements India position with Goa IR proposal

One gaming operator to watch in 2021 will be India’s Delta Corp., whose stock got a mid-month bump in December after it announced it had received approval in principle to build an integrated resort on shore in Goa.

Delta buys land for integrated resort in Pernem

Delta Corp has acquired about 100 acres of land in Pernem, Goa for a new integrated resort and expects the cost of shifting its operations from its floating casinos to be between 1,200 and 1,500 crore.
delta corp goa

Delta details IR plans for Goa

India’s land-based gaming industry is taking a step forward with news Delta Corp has been given permission in principle for an integrated resort in Goa.

Delta shares rise on Goa resort approval

Delta Corp shares rose more than 3 percent in trading in India after the operator announced it has won approval to build an integrated resort in Goa.

Goa seeks to move casino offices to river jetty

Goa's Ports Minister Michael Lobo said all six of the state's offshore casino operators will be required to shift their office buildings to a river cruise jetty at their own cost, due to congestion in the city centre.

Intense opposition to reducing Goa casino licensing fees

The initiative by the state government of Goa to reduce the casino licensing fees for local casinos due to the long mandatory period of Covid-19 closures is facing intense local opposition, including from the rest of the business community which has not been provided such relief measures.
Delta-casino-ship

Delta Corp takes financial pounding in the third quarter

India’s Delta Corp reported its third quarter results on Monday and, since its casinos were closed throughout the period by the Covid-19 pandemic, the numbers were appropriately grim.

Delta Corp stock gains on Goa opening announcement

Delta Corp has announced that it is moving quickly to reopen its casinos in Goa, and its stock price rose about 3 percent in the wake of that announcement.
Green light for Goa and Sikkim casino reopenings

Green light for Goa and Sikkim casino reopenings

All casinos in Goa have been greenlighted to reopen at 50 percent capacity from November 1 as measures to contain the Covid-19 pandemic are easing in many parts of India.

Sikkim/Goa casinos to open from November 1

Delta Corp shares surged after it said its casino in Sikkim would reopen from Nov. 1, whilst casinos in Goa are also expected to reopen from the same date.