Delta Corp shares tumble as Goa, Sikkim order casinos to close

India’s largest casino operator Delta Corp is reeling after the two states in which it operates ordered the closure of all casinos to minimize the spread of the COVID-19 coronavirus.

Delta Corp’s shares fell 9% during Tuesday’s trading on India’s National Stock Exchange, closing at Rs77.95. The stock was trading at Rs124 as recently as last Wednesday and was worth Rs241 one year ago this week.

This latest plunge came as the company announced Tuesday that its Casino Deltin Denzong in the state of Sikkim had been ordered to close, effective immediately, until at least April 15 to reduce opportunities for further spread of the coronavirus. The closure order impacted all casinos in the state, along with cinemas, discotheques and fitness clubs.

Sikkim’s order followed a similar edict this weekend in the state of Goa, where Delta operates three floating casinos and one land-based gaming venue. The order, which took effect Sunday at midnight, required all casinos in the state to remain closed until at least March 31.