Delta Corp. enters online gambling space with Adda52.com buy

Gaming and hospitality company Delta Corp. has successfully made its foray into India’s online gambling space.

In a regulatory filing to the National Stock Exchange of India, Delta Corp. announced that the National Company Law Tribunal (NCLT) has approved its merger with Gauss Networks Pvt. Ltd., the company that owns and operates India’s largest poker site Adda52.com.

Under the deal, Delta Corp. purchased 2,501 equity shares and 10,753 compulsorily convertible preference shares, which represent 25.99 percent of Gauss Networks’ total share capital.

Delta Corp. announced its plans to acquire Adda52 in August 2016. At the time, the hospitality company said it expected to pay INR47.30 crore (USD7.06 million) in cash to purchase 26 percent of Gaussian Networks’ shares.