Delta Corp exploring Sri Lanka’s ‘emerging gaming market’

Delta Corp exploring Sri Lanka’s ‘emerging gaming market’

November 19, 2013   11:30 am

The largest gaming and entertainment company in India, Delta Corp Limited says it is exploring the “emerging Sri Lankan gaming market” which his poised for rapid growth and will be looking to build a casino resort in property it has already acquired. 

Jaydev Modi, Chairman, Delta Corp Limited, stated that the group aims to make its presence felt in places like Sikkim and across the border in Nepal and Sri Lanka.

“We have already acquired property for the casino resort in Sri Lanka and the company is exploring the emerging Sri Lankan gaming market which is poised for rapid growth,” he was quoted as saying by PTI.

Modi said that with the end of 25-year civil war in May 2009, tourism in Sri Lanka has experienced rapid growth over the past two years with tourist arrivals increasing every month on a year to year basis.

“Indian visitors make up the largest percentage of total visitors to Sri Lanka accounting for 28 per cent of total Sri Lanka tourists,” he told reporters in Mumbai yesterday.

India’s Delta Corp., which operates three casinos in the Indian state of Goa and a small casino in Colombo, has been sitting on a piece of land on the outskirts of the Sri Lankan capital since 2011 on which it hopes to erect a 150k-square-foot gaming establishment with an adjoining 500-room hotel.

Delta has previously held talks with companies such as MGM Resorts International and Caesars Entertainment about a co-venture, but Indian law prevents foreign firms from making direct investment in the country’s gaming market, which is itself limited to the states of Goa and Sikkim.

Given Sri Lanka’s location just off India’s southern coast, Sri Lanka could offer a back door access to the over one billion residents of the largely gambling-deprived country.

Delta Corp’s hotel in Daman, which is India’s largest integrated casino resort, spread over 10 acres with 60,000 square feet gaming space, is likely to become operational from early next year.

The 187-room property will open up new markets for Delta Corp since it is near Mumbai and within convenient distance from the key cities in Gujarat, Modi said.

This would be first land-based casino in Daman. The company has major stake in the off shore casino business in Goa as it owns three off shore casino vessels.

Modi said that Daman hotel is ready and waiting for the final formalities to be completed after which it can be unveiled.

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