DELTACORP

** Shares of Delta Corp DELT.NS fall as much as 5.2% to 104.7 rupees, lowest since June 4, 2024

** Casinos and gaming operator said consolidated revenue fell 7.5% Y/Y to 1.94 bln rupees ($22.4 mln)

** Co hurt by a more than 3% fall in revenue from core gaming ops segment, which accounts for 75% of total rev

** More than 3.5 mln shares change hands, 1.4x its 30-day avg

** Stock shed 24% in 2024

($1 = 86.5650 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Jan 13 (Reuters) - Delta Corp Ltd DELT.NS:

• INDIA'S DELTA CORP DEC-QUARTER CONSOL NET PROFIT 357.3 MILLION RUPEES

• DELTA CORP DEC-QUARTER CONSOL NET SALES 1.94 BILLION RUPEES

Source text: [ID:]

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS rise 5% after media report says India's Supreme Court stays tax order on online gaming companies

** The court has stayed Directorate General of GST Intelligence's demand for tax arrears of 1.12 trillion rupees ($13.04 bln) on online gaming companies and casinos, Economic Times reports

** DELT got notice to pay tax arrears worth 63.84 bln rupees in Oct. 2023 and 111.40 bln rupees in Sept. 2023, while NAZA's units got tax orders of 8.46 bln rupees and 2.74 bln rupees in July 2024

** Delta declined 1% before the report, while Nazara Technologies NAZA.NS was trading around 3% lower; NAZA last down 1%

** Trading vols at 8.5x and 3x the 30-day avg for DELT and NAZA, respectively

** DELT fell 24% in 2024, while NAZA rose 18%

($1 = 85.8775 Indian rupees)

(Reporting by Nishit Navin)

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Dec 6 (Reuters) - Delta Corp Ltd DELT.NS:

• DELTA CORP LTD- TO REVISE DEAL BETWEEN CO, DELTIN HOTEL & RESORTS

• DELTA CORP LTD- REAL ESTATE BUSINESS SHALL BE DEMERGED INTO DELTA PENLAND

Source text: ID:nBSE86kJ50

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS falls 5.3% to 113 rupees, their biggest one-day loss in more than three months

** Casino and gaming co's Q2 consol profit sinks 61% while its total revenue declined 28%, hurt by a 23% decline in casino gaming division revenue

** DELT sees busiest day in a month, with over 1.6 mln shares traded

** Stock last down 2%, dragging YTD losses to 18%

(Reporting by Aleef Jahan in Bengaluru)

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Nov 6 (Reuters) - Delta Corp Ltd DELT.NS:

• DELTA CORP SEPT-QUARTER CONSOL NET PROFIT 269.8 MILLION RUPEES

• DELTA CORP SEPT-QUARTER CONSOL REVENUE 1.88 BILLION RUPEES

Source text: [ID:]

Further company coverage: DELT.NS

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** Shares of India's Delta Corp DELT.NS climb 7.5% to 139 rupees

** Casinos-to-resorts firm approved demerger of its hospitality and real estate business into a co called Delta Penland Pvt Ltd

** YTD, DELT has fallen more than 4%

(Reporting by Hritam Mukherjee in Bengaluru)

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Sept 24 (Reuters) - Delta Corp Ltd DELT.NS:

• DELTA CORP - APPROVED DRAFT COMPOSITE SCHEME OF ARRANGEMENT BETWEEN CO AND DELTA PENLAND

• DELTA CORP - SCHEME PROVIDES FOR DEMERGER OF CO'S HOSPITALITY AND REAL ESTATE BUSINESS

• DELTA CORP LTD - ANNOUNCEMENT OF DEMERGER OF HOSPITALITY & REAL ESTATE BUSINESS BACKGROUND

• DELTA CORP - DELTA PENLAND WILL ISSUE, ALLOT 1 SHARE FOR EVERY 1 SHARE HELD BY SHAREHOLDERS IN CO

Source text for Eikon: ID:nNSE7tM65W

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS fall 3% to 138.6 rupees

** Stock set for biggest one-day drop in over two weeks

** The casino and gaming reports 68% slump in Q1 net profit as revenue from its key gaming operations segment falls 25%

** Over 8.4 mln shares change hands, 1.3x the 30-day avg

** Stock down 5% so far this year, on pace for third straight annual drop

(Reporting by Ashna Teresa Britto in Bengaluru)

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July 9 (Reuters) - Delta Corp Ltd DELT.NS:

• Q1 CONSOL NET PROFIT 216.8 MILLION RUPEES

• Q1 CONSOL REVENUE 1.81 BILLION RUPEES

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS rise as much as 16.9% to 154.66 rupees

** Rise after media reports said that India's Goods and Services Tax council could consider a review of retrospective tax on online gaming in its upcoming meeting on June 22

** The GST Council will discuss this proposal on June 22 and If approved, it could lead to tax reduction for online gaming companies like DELT

** Stock clocks busiest session since early December 2023

** Nearly 54 mln shares change hands, 22x the 30-day moving average

** Stock last up ~12%, rose 1.7% YTD

(Reporting by Yagnoseni Das in Bengaluru)

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May 8 (Reuters) - Delta Corp Ltd DELT.NS:

• STRATEGIC PARTNERSHIP WITH ALPHA ALTERNATIVES FUND ADVISORS, ANY FUNDS MANAGED BY ALPHA ALTERNATIVES FUND ADVISORS, PENINSULA LAND

• DEAL FOR 900 MILLION RUPEES

• PLATFORM PROPOSED TO BE FUNDED WITH AMOUNT OF UP TO 7.65 BILLION RUPEES

Source text for Eikon: ID:nBSE4B74nL

Further company coverage: DELT.NS

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May 7 (Reuters) - Delta Corp Ltd DELT.NS:

• DELTA CORP LTD - DIVIDEND 1.25 RUPEES PER SHARE

• DELTA CORP MARCH-QUARTER CONSOL NET PROFIT 724.1 MILLION RUPEES VERSUS PROFIT 511.7 MILLION RUPEES

• DELTA CORP MARCH-QUARTER CONSOL TOTAL INCOME 2.13 BILLION RUPEES VERSUS 2.33 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: DELT.NS

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Feb 29 (Reuters) - Delta Corp Ltd DELT.NS:

• APPROVED INCORPORATION OF DELTA PENLAND PRIVATE LIMITED

• DELTA PENLAND TO BE JOINT VENTURE BETWEEN PENINSULA LAND AND CO FOR REAL ESTATE DEVELOPMENT

Source text for Eikon: ID:nBSE1SN3Vf

Further company coverage: DELT.NS

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** Shares of casino and gaming co Delta Corp DELT.NS fall as much as 5% to 143.10 rupees

** Co reports a 59.4% fall in Dec-qtr net profit to 344.8 mln rupees ($4.15 mln) Y/Y, its first profit fall after rising for previous two quarters

** Rev from key gaming ops segment fell 18.2%, smaller online skills gaming ops segment rev fell 9.1%

** Stock on track for first weekly decline after four straight weeks of gains

** DELT trading below its 200-day simple moving avg since July 12, 2023 after tax authorities imposed 28% tax on gaming and casino cos

** DELT last down 2.4%; stock fell 31.4% in 2023

($1 = 83.1675 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Jan 9 (Reuters) - Delta Corp Ltd DELT.NS:

• DEC-QUARTER CONSOL NET PROFIT 344.8 MILLION RUPEES VERSUS 848.2 MILLION RUPEES

• DEC-QUARTER CONSOL NET SALES 2.32 BILLION RUPEES VERSUS 2.73 BILLION RUPEES

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS up as much as 5% at 145.80 rupees

** High Court of Calcutta granted interim relief to Delta Corp's unit - Deltatech Gaming in relation to a GST notice for tax arrears

** DELT got notice to pay tax arrears worth 63.84 bln rupees ($765.8 mln) in October and 111.40 bln rupees in September

** ~9.1 mln shares change hands, 1.4x the 30-day moving average

** Stock last up 2%; down ~33% YTD

($1 = 83.3620 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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Dec 6 (Reuters) - Delta Corp Ltd DELT.NS:

• UPDATE ON DEMAND FOR PAYMENT RECEIVED FOR SHORTFALL OF TAX PAID BY UNIT FROM TAX AUTHORITIES

• HIGH COURT HAS GRANTED INTERIM RELIEF TO DGL

Source text for Eikon: ID:nNSEbNq8YQ

Further company coverage: DELT.NS

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** Shares of Indian casino operator Delta Corp DELT.NS rise as much as 8.9% to 154.20 rupees, highest since Sept. 25; last up 5.8%

** Co says it will enter realty sector with investment of 2.5 bln rupees ($30.02 mln) in a joint venture with real estate co Peninsula Land PENL.NS

** DELT will also invest 1 bln rupees in PENL

** About 14.6 mln DELT shares change hands, 3x the 30-day avg

** PENL shares up 5% at 51 rupees

** DELT shares down 29% YTD, while PENL shares have nearly quadrupled

($1 = 83.2675 Indian rupees)

(Reporting by Sethuraman NR in Bengaluru)

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Nov 30 (Reuters) - Delta Corp Ltd DELT.NS:

• COMPANY AND PLL ALSO PROPOSE TO ESTABLISH A JOINT VENTURE IN DUE COURSE

• TO INVEST 2.5 BILLION RUPEES IN JV

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS up as much as 8.2% to 140.65 rupees, their biggest intra day pct gain since June 17

** Casino operator said Indian court directed GST intelligence to not pass final orders on tax notices against the company without the court's permission

** DELT got notice to pay tax arrears worth 63.84 bln rupees ($768.4 mln) earlier this month and 111.40 bln rupees in Sept.

** Stock last up 4.9%; down 36% YTD

($1 = 83.0860 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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BENGALURU, Oct 16 (Reuters) - Shares of India's Delta Corp DELT.NS fell to a near three-year low on Monday, after the casino operator said its unit received an additional tax shortfall notice to pay 63.84 billion rupees ($766.8 million).

This compares to the company's third-quarter net revenue of 2.71 billion that it reported last week and a notice to pay tax arrears of 111.40 billion rupees last month.

Delta shares fell 10% to their lowest since November 2020 following the news, after the company lost roughly 40% of its market share this year.

In July, the country's Goods and Services Tax (GST) council decided to impose a 28% indirect tax on money collected by gaming companies.

While global investors have urged Indian Prime Minister Narendra Modi to review the 28% gaming tax, citing a setback to prospective investments of about $4 billion, the country's revenue secretary had said there was no need to rethink the tax.

($1 = 83.2575 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)

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** Shares of Delta Corp DELT.NS up as much as 4.2% at 149 rupees

** Indian casino operator on Wednesday posted a 1.7% YoY increase in Sept qtr profit on a fall in tax expenses; total rev up 0.2%

** Also named Anil Malani as CFO

** Stock on track to rise for sixth straight session, if gains hold

** Stock down ~30% YTD

(Reporting by Kashish Tandon in Bengaluru)

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BENGALURU, Oct 11 (Reuters) - Indian casino operator Delta Corp DELT.NS reported a marginal 1.7% rise in second-quarter profit on Wednesday, helped by a fall in tax expenses.

The Pune-based firm's consolidated net profit for the quarter ended Sept. 30 rose to 694.4 million Indian rupees ($8.35 million) from 682.5 million rupees a year earlier, it said in an exchange filing.

The company's tax expenses in the quarter fell 7.4%, making way for profits as total revenue stayed flat with a 0.2% rise to 2.71 billion rupees.

Revenue from its key casino gaming division was up 3.4%, while its revenue from its smaller online skill gaming division - which includes poker and rummy games - fell nearly 14%.

In April this year, Delta said it wanted to focus on attracting retail customers and position itself as "a family destination" as the revenue contribution from big-ticket gambling, which the company called a "high-rolling business", was "very miniscule".

Costs excluding tax expenses rose 1.8% on the back of a 3.3% rise in licence fees and registration charges.

Earlier this year, India's nascent $1.5 billion online gaming industry came under tight scrutiny as the Goods and Services Tax (GST) Council imposed a 28% tax on funds from customers on each bet but partially walked back the tax later. The new tax came into effect on Oct. 1.

Delta Corp on Wednesday appointed Anil Malani as the new Chief Financial Officer of the company, replacing Hardik Dhebar, who had stepped down in August.

Delta's shares closed 0.5% up on Wednesday.

($1 = 83.1400 Indian rupees)

(Reporting by Hritam Mukherjee and Ashish Chandra in Bengaluru; Editing by Janane Venkatraman)

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Updates share movement in paragraphs 1, 3 and 4, adds analyst comment and details from paragraph 6

BENGALURU, Sept 25 (Reuters) - Shares of Indian casino operator Delta Corp DELT.NS plunged as much as 20% on Monday to their lowest since January 2021, after the company said that it received a notice to pay 111.40 billion rupees ($1.34 billion) in tax arrears.

Delta Corp, valued at about $466.4 million, added that the company and two of its units received intimations of an additional tax shortfall aggregating to 56.83 billion rupees for the period between July 2017 and March 2022.

Delta's shares are down about 32% this year and about 50.8 million shares changed hands by 1:12 p.m. IST, more than 16 times their 30-day average.

The shares pared some of the losses in early trading and were last down nearly 18% at 144.7 rupees apiece.

The notice, issued under goods and services tax (GST) acts from 2017, deals another blow to the gaming company which is already contending with the federal government's elevated levies.

The demand for GST on gross bet value spells trouble for Delta Corp, Amit Kumar Gupta, founder of Fintrekk Capital said, adding that the dues are more than the market capitalisation of the company.

Delta Corp, which owns casinos as well as poker and rummy websites, has said that it would pursue legal remedies to challenge the tax demand and related proceedings.

The stock logged its steepest intraday percentage decline since July 12, when the country's GST Council decided to impose a 28% indirect tax on money collected by gaming companies. The stock had lost a fifth of its value then.

While global investors have urged Indian Prime Minister Narendra Modi to review the 28% gaming tax, citing a setback to prospective investments of about $4 billion, the country's revenue secretary had said there was no need to rethink the tax.

($1 = 82.9700 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Dhanya Ann Thoppil)

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Sept 22 (Reuters) - Delta Corp Ltd DELT.NS:

• DELTA CORP- GETS NOTICE TO PAY ALLEGED TAX LIABILITY OF 111.4 BILLION RUPEES WITH INTEREST, PENALTY FROM JULY 2017 TO MARCH 2022

• DELTA CORP- CO LEGALLY ADVISED THAT DG NOTICE, TAX DEMAND IS ARBITRARY AND CONTRARY TO LAW

• DELTA CORP- CO WILL PURSUE ALL LEGAL REMEDIES AVAILABLE TO IT TO CHALLENGE SUCH TAX DEMAND AND RELATED PROCEEDINGS

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Sept 1 (Reuters) - Delta Corp Ltd DELT.NS:

• APPROVED INCORPORATION OF DELTIN FOUNDATION ALONG WITH HIGHSTREET CRUISES AND ENTERTAINMENT

• APPROVED VOLUNTARILY STRIKE OFF OF MAURITIUS UNIT, DELTA OFFSHORE DEVELOPERS LTD

Source text for Eikon: [ID:]

Further company coverage: DELT.NS

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Aug 4 (Reuters) - Securities analysts revised their ratings and price targets on several Canadian companies, including Bombardier, Fairfax Financial Holdings and Spartan Delta, on Friday.

HIGHLIGHTS

Following is a summary of research actions on Canadian companies reported by Reuters on Friday. Stock entries are in alphabetical order.

(Compiled by Bengaluru Newsroom)

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NEW DELHI, July 26 (Reuters) - India's Goods and Services Tax (GST) Council will meet on Aug. 2 to decide on a 28% tax on funds that online gaming companies and casinos collect from customers, and finalise other rules, a government official said on Wednesday.

The council, chaired by India's Finance Minister Nirmala Sitharaman and comprising state finance ministers, will decide if the tax should be imposed only once on the total funds deposited to play an online game, or each time a bet is placed - something the industry fears will lead to repeated taxation.

The official asked not to be named because he was not authorised to speak to the media. The Finance Ministry and GST Council Secretariat did not immediately respond to a Reuters request for comment.

Since the government first announced its plan for the tax on July 11, the gaming industry and its investors have asked it to review the decision, which will increase the tax burden on both companies and consumers.

Last week, Tiger Global, Peak XV and Steadview Capital were among 30 foreign and domestic investors that asked Prime Minister Narendra Modi to review the tax, saying the levy would adversely impact $4 billion in prospective investments.

India's revenue secretary, Sanjay Malhotra, told a local television channel on Tuesday that "the taxation, as has been claimed by the gaming industry, becomes very high in case it is taxed at each and every bet. That's true, it's a fact."

This would be taken into account when a final decision is taken by the GST Council, Malhotra told NDTV.

(Reporting by Nikunj Ohri; Editing by Savio D'Souza)

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BENGALURU, July 25 (Reuters) - India's casino operator Delta Corp DELT.NS reported a 19% rise in first-quarter profit on Tuesday as higher demand for casino gaming more than offset climbing costs.

The Pune-based company's consolidated net profit for the quarter ended June 30 rose to 679.1 million rupees ($8.30 million) from 571.3 million rupees a year earlier, it said in an exchange filing.

Growing revenue offset total expenses for the quarter, which inched up 9% to 1.95 billion rupees, with licence fees and registration charges rising more than 7%.

Revenue from its mainstay casino gaming division rose about 11%, helping net sales climb nearly 9% to 2.73 billion rupees.

However, revenue from its online skill gaming division, which includes poker and rummy games on online site Adda52.com, slid more than 1%.

"Regulatory clarity over issues concerning the industry is expected in due course of time," said Chairman Jaidev Mody in a statement.

Earlier this month, India imposed a 28% tax on funds that online gaming companies collect from their customers, replacing the small tax on fees they charged for real-money games.

Chief Financial Officer Hardik Dhebar had earlier said the online gaming scenario was "becoming clearer" in terms of the business's legality and that the industry was receiving more recognition.

The company said it was "hopeful and confident" that a "mutually amicable and favourable outcome" would emerge from concerns being raised by investors and industry representatives.

In April, Delta said it wanted to focus on attracting retail customers and posit itself as "a family destination" as the revenue contribution from big-ticket gambling, which the company called a "high-rolling business", was "very miniscule".

The company, which operates Asia's largest floating casino in Goa, Deltin Royale, is expanding its fleet to that effect with new ships expected to roll out this year, nearly tripling its capacity by the end of fiscal 2025.

Deltin Royale contributes around 60%-70% of the company's topline monthly, Dhebar said in April.

Shares of Delta Corp closed 0.29% up on Tuesday.

($1 = 81.8494 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sohini Goswami)

(([email protected]; Twitter: @MukherjeeHritam;))