Delta Corp. to replace Deltin Caravela with larger floating casino on Goa’s Mandovi River in 2021

Delta Corp. to replace Deltin Caravela with larger floating casino on Goa’s Mandovi River in 2021

India’s gaming & hospitality business Delta Corporation Limited has announced that it mulling plans to replace its off-shore Deltin Caravela gaming vessel with a larger floating casino on Goa’s Mandovi River sometime next year.

The new floating gaming vessel, which is being constructed by Waterways Shipyard at a cost of around $20.5 million, will set sail sometime in 2021, most likely between twelve to eighteen months from now. Delta Pleasure Cruise Co. owns a 45 per cent share in Waterways Shipyard.

Once ready, the new gaming vessel will be anchored on the Mandovi River in Goa, India’s smallest state that was once a Portuguese colony. The larger floating gaming vessel is expected to lead to larger revenue and more profit for the casino operator.

It will be Delta Corp.’s second offshore casino to be built by Waterways Shipyard. The first floating gaming vessel made for Delta Corp. was the Royale, which is now called the Deltin Jaqk.

Delta Corp. is also pushing ahead with its plans to build a land-based casino resort. The brick-&-mortar integrated casino resort will be built on dry land in Pernem, Goa. It will be built on a 100-acre patch of land near the airport in Pernem’s village of Mopa. The upcoming gaming facility has been touted as a place where travelers will be able to gamble before and after their flights.

The land-based facility will reportedly include a casino, a 400-room hotel, restaurants, a water park, shopping malls, and theaters. Currently, land-based gaming facilities featuring table games are not allowed in Goa. Table games are currently available only in six offshore casinos under the jurisdiction of Goa.

Hardik Dhebar, Chief Financial Officer (CFO) of Delta Corp., said, “We are going to invest in the hope that in the four to five years that it will take us to build the integrated electronic casino, the government will change the policy and the law and permit live gaming on-shore.”

If Goa government allows offshore casinos to move to a land-based location, there could be a major jump in gaming revenue. In 2018, a Las Vegas-investment advisory firm called Union Gaming Securities had predicted that annual gross gaming revenues (GGR) could top $1 billion if the casinos are moved to dry land. The investment advisory firm also predicted that integrated casino resorts could help India generate a yearly GGR of up to $17 billion if integrated casino resorts are allowed to open and operate in the country.

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