Following the state government orders, casino operations in Sikkim resumed today. As soon as the news was announced, the share prices of Delta Corp Limited rose by over 5% intraday.
The state government in Sikkim has allowed the casinos to operate subject to compliance of safety norms and measures.
The company in a filing on Monday said, “The Government of Sikkim has allowed reopening of the Casinos in the State subject to the safety norms being followed. Further the company and/or its subsidiary operating the Casino in the state of Sikkim will resume its operations from July 06, 2021 and will follow all the safety norms laid down by the state in this regards.”
Delta Corp announced that it will resume its operations and follow all the necessary safety norms shared by the state. As soon as the word spread, the share prices to Delta Corp began to shoot up.
At around 3.10 PM on Monday, the company’s shares were priced at ₹197, which was ₹9.40 higher than its price before the news was declared. The share prices rose by an impressive 5.01% on the Bombay Stock Exchange (BSE) listing.
The firm is India’s only listed casino operator which offers live and online casino games. A majority of the off-shore casinos on the Mandovi river of Panaji, Goa are operated by Delta Corp.
Delta Corp shares recorded a 52 week high at ₹201.95 on March 17th, 2021. The shares previously tanked to a 52 week low of ₹85 on August 3rd last year. Currently, the company’s shares are trading at ₹191.45.
Delta Corp’s largest audience lives in Goa. However, due to the rise in COVID-19 cases in the state, the Goa state government had decided to extend the current restrictions till July 12th, 2021. The restrictions prohibit the operation of casinos. Hence, the company’s casinos in Goa remain shut.
Amarylisa Gonsalves is a Content Writer at Gutshot Magazine. Advancing from a marketing background, she found her calling in writing. She takes delight in exploring genres and is a curious learner. Patient and ambivert, she believes in letting her work speak for itself. Apart from content writing, she finds solace in writing poetry by manifesting herself through words. Additionally, she adores indulging in drawing and DIY crafts.
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