n India, casino operator Delta Corporation Limited has reportedly received approval from shareholders at Gaussian Networks to purchase the firm behind online poker website Adda52.com for approximately $22 million.
According to a report from Asia Gaming Brief, the plan from Mumbai-listed Delta Corporation Limited was approved by 99.96% of Gaussian Networks shareholders at a recent court-convened meeting with the deal now expected be finalized within the next few months.
“With this transaction, Delta Corporation Limited will widen its business horizon and increase its overall footprint thereby consolidating its overall leadership position,” read a September statement from Delta Corporation Limited.
Established by Indian entrepreneur Anuj Gupta, Gaussian Networks also offers online games of rummy, scrabble, chess, pool and golf via domains such as Adda52mart.com and Adda52rummy.com although Adda52.com is by far its most popular website with an estimated player database exceeding some 100,000.
For its part, Delta Corporation Limited opened its Casino Deltin Denzong land-based facility inside the Denzong Regency Hotel in the small north-eastern Indian state of Sikkim in January and additionally runs Goa’s floating Deltin Caravela, Deltin Royale and Deltin Jaqk facilities. The firm moreover has plans to venture further onshore soon with the inauguration of gambling at its Delta Daman casino in the western territory of Daman featuring up to 1,500 gaming positions.
“This is a completely debt-free company and a highly cash generating and cash positive company,” Hardik Dhebar, Chief Financial Officer for Delta Corporation Limited, told local television broadcaster CNBC-TV18 in September. “We genuinely believe that both Delta [Corporation Limited] and [Gaussian Networks] together can get a lot of synergies in terms of expanding the base and penetrating the market better and we believe that we could grow at a much larger number in terms of growth rate and we believe that it would be very beneficial from a Delta [Corporation Limited] balance sheet and profit and loss perspective.”