Intraday calls
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DELTA CORP LTD. 
why to bet on this?
Delta Corp Ltd. Is engaged mainly in 2 main lines of business‐ Casino gaming and Real estate; the casino business is in Goa and realestate venture in Nairobi. It also plans to enter in to Hospitality business to support Casinogaming business in Goa. It may acquire an Hotel in Goa and add 42 rooms to ship Royale Flotel.
The company at present operates two offshore casinos: Casino royale and King’s Casino in Goa. It has third license for Casino by virtue of acquiring Advani Pleasure & tours; which is the only Casino License in India, withFIPB approval to attract FDI up to 49%. [Now FDI in Gaming is banned] Thus it can attract foreign gaming companies by offeringstake in this business through this company. It also holds principle license for Casino Gaming in Daman and looking for more licenses in other parts of country [Sikkim] where ever Casino Gaming is allowed [it is a state subject and onlyfew states allows casino gaming in India]. Gambling/Speculation is in the blood of Indians and thus –lottery, gambling and speculation market is huge in India. [official lottery market is huge]
Company plans to remain biggest player in Casino gamingbusiness in India and is thus continuously looking for opportunities in this business. It is also moving in to the business of management of third party casinos,which will also generate good revenues and gives control over larger number ofcasinos in India. FDI in casino business may be brought in at hefty valuations, as no other casino gaming company from India can offer the investment opportunity to overseas player willing to enter Indian fast growing casino market. Similarly there are strategic/PE investors, lookingfor a stake in India’s fast growingCasino Gaming business, may also be willing to offer attractive valuations to company.
The company is also a major play in Real estate also. It also gets consultancy income from the Peninsula Properties. It also has ~150786 sq.ft property at Prabhadevi of worth Rs200 Cr in Mumbai. Company intendsto sell this and may prepay debt or use cash for acquisition of Hotel in Goa.
It has a 40:60 JV with the wholly owned subsidiary of RIL for the real estate venture at Nairobi in Kenya. RIL has invested 135crand delta 55cr. But Delta being the operating partner, consolidation of revenue with Delta is allowed. The JV has already invested Rs. 2bn acquiring 9 plots in prime locations approx 803000 sq.ft to be developed for commercial and residential purpose. There are 9 projects to be done, out of which 3 projects are in advanced stage; 2 are 60% complete and 1 project is 40% complete. They are basically for commercial and residential service apartments. Civilwork is almost completed, but in finishing may take more time.
The Nairobi property development work will be reflected in consolidatedaccounts [in significant way] only from FY 12 onwards, so no immediate trigger may come from this overseas real estate venture.
Note:- The company has had a bull run from 30-35 rupees to 90-95 levels...in the current bull run. Long term investors wait and buy after correction.
why to bet on this?Delta Corp Ltd. Is engaged mainly in 2 main lines of business‐ Casino gaming and Real estate; the casino business is in Goa and realestate venture in Nairobi. It also plans to enter in to Hospitality business to support Casinogaming business in Goa. It may acquire an Hotel in Goa and add 42 rooms to ship Royale Flotel.
The company at present operates two offshore casinos: Casino royale and King’s Casino in Goa. It has third license for Casino by virtue of acquiring Advani Pleasure & tours; which is the only Casino License in India, withFIPB approval to attract FDI up to 49%. [Now FDI in Gaming is banned] Thus it can attract foreign gaming companies by offeringstake in this business through this company. It also holds principle license for Casino Gaming in Daman and looking for more licenses in other parts of country [Sikkim] where ever Casino Gaming is allowed [it is a state subject and onlyfew states allows casino gaming in India]. Gambling/Speculation is in the blood of Indians and thus –lottery, gambling and speculation market is huge in India. [official lottery market is huge]
Company plans to remain biggest player in Casino gamingbusiness in India and is thus continuously looking for opportunities in this business. It is also moving in to the business of management of third party casinos,which will also generate good revenues and gives control over larger number ofcasinos in India. FDI in casino business may be brought in at hefty valuations, as no other casino gaming company from India can offer the investment opportunity to overseas player willing to enter Indian fast growing casino market. Similarly there are strategic/PE investors, lookingfor a stake in India’s fast growingCasino Gaming business, may also be willing to offer attractive valuations to company.
The company is also a major play in Real estate also. It also gets consultancy income from the Peninsula Properties. It also has ~150786 sq.ft property at Prabhadevi of worth Rs200 Cr in Mumbai. Company intendsto sell this and may prepay debt or use cash for acquisition of Hotel in Goa.
It has a 40:60 JV with the wholly owned subsidiary of RIL for the real estate venture at Nairobi in Kenya. RIL has invested 135crand delta 55cr. But Delta being the operating partner, consolidation of revenue with Delta is allowed. The JV has already invested Rs. 2bn acquiring 9 plots in prime locations approx 803000 sq.ft to be developed for commercial and residential purpose. There are 9 projects to be done, out of which 3 projects are in advanced stage; 2 are 60% complete and 1 project is 40% complete. They are basically for commercial and residential service apartments. Civilwork is almost completed, but in finishing may take more time.
The Nairobi property development work will be reflected in consolidatedaccounts [in significant way] only from FY 12 onwards, so no immediate trigger may come from this overseas real estate venture.
Note:- The company has had a bull run from 30-35 rupees to 90-95 levels...in the current bull run. Long term investors wait and buy after correction.
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