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.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.