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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Delta Corp ;-)

Delta Corp ;-)

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1Delta Corp ;-) Empty Delta Corp ;-) Tue Nov 19, 2013 2:31 pm

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
http://www.livemint.com/Companies/3CCjbQd5H9kQ8ZlNozoYAI/Gaming-firm-Delta-Corp-to-exit-real-estate-business-to-stay.html

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
*Delta Corp exploring Sri Lanka’s ‘emerging gaming market’

Looking to tap international markets like Nepal and Sri Lanka


Mumbai, November 19, 2013 (PTI) India’s largest integrated casino resort in Daman, spread over 10 acres with 60,000 square feet gaming space, is likely to become operational from early next year.

Delta Corp’s hotel in Daman, which is India’s largest integrated casino resort is expected to become operational in early 2014, Jaydev Modi, Chairman, Delta Corp Limited, told reporters in Daman on Tuesday.

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, he 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.

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

He 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 his poised for rapid growth," he said.

Mr. Jayadev 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 added.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=92404

sriranga

sriranga
Co-Admin
Two days ago, the Ceylon FT published a very well written article from Forbes magazine, on famed Sri Lankan entrepreneur Dhammika Perera. It provided many excellent insights into the dazzling success story of one of the most influential business tycoons in our country. Forbes listed him as being among the top four richest magnates in Sri Lanka.

Buried deep within the article was the news that Dhammika Perera is about to construct a 40-storey building in Colombo to house a mega casino named 'The Queensbury' (this will no doubt complement 'The Kingsbury' hotel owned by the Hayleys Group, of which he is the largest shareholder).

Three days earlier, Indian media reported the announcement in Mumbai by Delta Corp, India's largest integrated casino resort operator, that it has acquired land in Sri Lanka for a mega casino which would be its maiden venture overseas. Delta Corp is already constructing India's largest casino, a 187-room integrated casino resort spread over 10 acres near Mumbai which is scheduled to open next year. It already operates three offshore casino ships in Goa.

These surprising announcements come in the midst of a huge controversy swirling around Australian tycoon James Packer's proposed mega casino.

If the reports of the Delta Corp and Queensbury casinos are correct, and there is no reason to think otherwise, then it becomes more and more evident that it is the government's vision to turn Colombo into a mini-Macau or Las Vegas in the future.

There are of course arguments for and against this. Those arguing for it point to the benefits of investment, employment and tourism. Those against it speak of the evils of prostitution, drugs, alcohol, cigarettes, gangs and mafias, and so forth.

But perhaps most troubling at the moment is the shroud of secrecy that seems to be surrounding the move to set up mega casinos in our capital city. Why in the world do the people of this country need to find out from the New York-based Forbes magazine and the Press Trust of India, that mega casinos are about to be built in our city, which will change forever life as we know it in good old Colombo? If this is how the matter is being treated before the casinos are built, will Sri Lankans have any say over the activities of foreign casinos in our capital city, after they become operational? Why didn't the Government announce these projects, without waiting for foreigners to make the announcements in their countries?

Yes, we all want foreign investment, in order for our country to prosper. But having mega casinos spinning money should not be the only yardstick of prosperity. We in Sri Lanka, with the wisdom of many great religions, should not allow greed and money to dominate our decisions. There are many other types of investments.

A healthy public debate is raging on the issue of mega casinos. But the news from abroad that there are more casinos in the offing, which we have not been officially told about, is indeed unsettling.

This issue needs more public debate; not more secrecy. It's our country. We should have a say over what it is to become. We should not hear from foreign media about what's going to happen to our front yard.

http://ceylontoday.lk/22-48263-news-detail-a-little-bit-of-transparency-in-our-casino-economics-please.html

http://sharemarket-srilanka.blogspot.co.uk/

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