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Delta Corp: Deltin Daman Gets Casino License; Stocks Expected To Rise

As per news reports online, Delta Corp., one of India’s largest casino giants, has received the license to start casino operations in Daman. Following the news, Delta Corp. stocks are set to rise. 

https://twitter.com/REDBOXINDIA/status/1570703060913258499?s=20&t=MrS23U85DBlEc7zlD3guzg

The reports also suggest that the license is restricted to only slot machines for now and not the whole casino.

https://twitter.com/darshanvmehta1/status/1570704787913736194?s=20&t=7TXWitJvHDLR26BBeecFzQ

As of 16th September 2022, at 3:30 PM, Delta Corp Ltd.’s share price stands at ₹223.55. Delta Corp’s stocks had been experiencing a low trend over a long period. However, the stocks rose significantly yesterday and continue to rise today. 

Deltin, is owned by Delta Corp Ltd., which is one of India’s only listed gaming companies. It offers luxurious suites, gaming rooms, and other luxurious facilities on its properties. The brand has exquisite properties in Goa, Daman, Sikkim, and Nepal. Deltin operates three offshore casinos, two land-based casinos and one 5-star hotel in Goa, and two land-based casinos in Sikkim and Nepal each.

The glamorous 5-star resort in Daman awaited regulatory approval for its proposed casino. However, as per reports, it seems like the wait has finally ended with the approval being sanctioned. The Deltin Daman property is located at Varkund, Nani Daman, Daman, Daman and Diu 396210. 

As per the image being circulated on social media, Deltin Daman is expected to make a payment of the permission fee for 60 months along with a security deposit of ₹10 Lakh within 30 days. 

Have a look at the Deltin Daman property:

However, later some reports suggested that this was a fake rumor spread to hike up the share prices. It could be a pump and dump technique used by the stakeholders. Delta Corp later released an official clarification saying that the news was fake:

DELTA CORP Denies News Of Subsidiary Deltin Gets Casino License#investing #stocks #stockmarkets #DELTACORP #NiftyBank #niftyOptions #BankNiftyOptions #trading #breakoutstocks pic.twitter.com/sP98GEPcFH

— Ayush Agrawal (@equitymultiples) September 19, 2022

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Photo credits: Deltin Daman

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