India’s Delta Corp. shops for partner
September 9, 2011
Delta Corp., which operates offshore casinos in Goa, is seeking a strategic partner and has opened investment discussions with Caesars Entertainment and MGM Resorts International, among others, according to published reports.
Casinos and gambling are prohibited in most parts of India. Goa and Daman are two exceptions to the rule. Sikkim in the northeast is the only other state that allows for licensed casino development. Delta is the biggest casino firm in India, where the gaming business is growing 50% year-on-year, according to the Economic Times, which also reported that the company, which owns three of Goa’s six operating licenses and is said to be interested in expanding to Sikkim and Sri Lanka, recently engaged Citibank and UBS to find a strategic partner.
"We continue to monitor developments in India and we would welcome the day when a legal and regulatory structure emerges that would permit our company to invest there," Gordon M Absher, vice-president of public affairs at MGM Resorts, told the Times. "It would be inappropriate for us to comment on any discussions we may have had with any specific company."
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