Delta Corp has requested a waiver/reduction/proportionate payment mechanism for casino license fees during the shutdown period from the Goa government.
According to the operator: “Due to the pandemic situation, the stress on the operations and the representations made, the management is hopeful that the Government of Goa may consider its request, favorably. In such a situation, the provision of license fees made in the books may not be payable in full or in part, as per direction of the Government of Goa.”
For the three months ending September 30, 2021, the operator reported a consolidated net loss of Rs22.57 crore (US$3 million), down from a US$3.8 million loss in the previous quarter and US$7.3 million in the third quarter of last year.
According to the firm: “Due to COVID-19 pandemic and the consequent lock downs announced by the Government of India, the operations of the company were suspended since the third week of March, 2020 to October, 2020. During the current financial year also, consequent to the lock down due to the second wave of pandemic announced by the
state governments, the group could operate only partially.”
Its casinos could operate at 50% of normal capacity for a portion of April 2021, and with restrictions beginning September 20 2021. Its hotels in Goa could also only operate at 50% of normal capacity starting July 5, 2021, and with restrictions. Its casino in Sikkim was able to operate at 50% of normal capacity from April 2021 to part of May 2021, and with restrictions starting August 16 2021.
‘We have assessed the potential impact of COVID-19 on the recoverable values of our financial and non-financial assets, as well as the impact on revenues and costs,’ the company said.