India-based Delta Corp Limited is expected to continue posting positive results for both its land-based and floating casino operations, with net revenue for the third quarter of the fiscal year 2019 reaching Rs2.06 billion ($29.22 million), 26.9% higher than the corresponding period of the previous year.

Union Gaming’s Grant Govertsen, in a note, said that the revenue figures, and an EBITDA (earnings before interest, taxes, depreciation, and amortization) of Rs840 million ($11.93 million) were “in line with consensus.”

Gross revenue from gaming operations was Rs2.02 billion ($28.70 million), a 29.6% increase from October to December 2017. Online gaming meanwhile brought in Rs378.3 million ($5.37 million), 33.11% higher year on year.

“These growth rates were broadly in line with our expectations coming into the quarter,” Govertsen said, adding that the company’s EBITDA margin of nearly 41% was the highest since the state of Goa, where Delta operates four of its casinos, increased license fees from Rs3 million to Rs10 million last April.