Delta Corp Ltd, India’s largest gaming company which is also listed on India’s stock exchange recently announced that it had entered into an agreement with a company based out of Nepal that will allow it to operate a casino in the nation’s capital, Kathmandu. The memorandum of understanding is a concrete step to proceed with Delta Corp’s business plan to expand its base of operations outside India’s gaming market.
Delta Moves Into Nepal
In a statement filed with the Bombay Stock Exchange, Delta Corp said that Everest Hospitality and Hotel Pvt Ltd had entered into a memorandum of understanding to operate a casino at the proposed 235-room Marriott Hotel that is on a fast track to a grand opening next year in Kathmandu, Nepal. The international luxury hotel giant also operates Fairfield in Thamel that opened in March, 2017. MS Group, of which Everest Hospitality and Hotel is a subsidiary, had overseen the development of the hotel.
In its filing with the stock exchange, Delta Corp said “Delta will initiate steps to obtain a casino licence from the Government of Nepal and the commencement of operations of the casino will be subject to receipt of this licence. With this proposed casino in Kathmandu, Delta aims to expand its imprint outside India, in line with its strategy of expanding in the region.”
Delta Corp which is owned by Jaydev Mody has two gaming centres in the Indian states of Sikkim and Goa where gaming is legalized. The Marriott brand hotel will boast of cutting edge gaming equipment in its casino. It will also be equipped with spa, several restaurants, a gym, swimming pool and other luxurious amenities.
Delta Corp is entering a growing sector as Nepal already has a number of casinos like Boutique Asian owned by Silver Heritage Group Ltd, which plans to open its Tiger Palace Resort Bhairahawa for accommodation shortly and hopes to open its casino by the end of 2017. Other casinos of note are ones run by the Pride Group in the Hyatt Regency Hotel,
Delta Corp operates 3 casinos off the coast of Panaji, Goa, including the Delta Caravela, India’s sole floating hotel with a casino. It also owns several luxury casino spaces in Sikkim and Daman. The gaming company reported a turnover of INR 2.39 billion last year. Delta Corp has also entered the fast growing online gaming business with its buyout of Gauss Networks Private Limited, which owns and operates India’s largest online poker website ‘Adda52.com.’