Delta Corp said on Tuesday that it received a license for operations of a casino in Gangtok, Sikkim.
"The company is fully ready to commence its casino operations and will do so immediately," Delta Corp said in a filing to the BSE.
Earlier in July 2016, the company informed the exchange that it signed a leave and license agreement for premises in the Denzong Regency Hotel in Gangtok to operate a casino. It obtained a provisional license from the Sikkim government for the purpose.
With this, Delta Corp has now forayed into the Eastern region market where it will operate a live gaming casino offering approximately 150 gaming positions.
The company is already offering three offshore and one onshore casino in Goa. Delta Corp is the largest and only listed company within the gaming and hospitality segment in India.
Reacting to the news, shares of Delta Corp spurted almost 3 percent in trade on Tuesday on the BSE. The shares were trading at Rs 137.15, up 1.75% at 12:15 pm.
Broader markets were trading down with BSE Sensex losing about 65 points to 27,220 while the NSE Nifty was at 8390, down 22 points. Oil and gas sector stocks were trading with a negative bias on Tuesday after third quarter earnings of Reliance Industries (RIL) failed to cheer investors despite a moderate increase in net profit.
RIL on Monday reported that its profit on a standalone basis increased 4.1 percent sequentially to Rs 8,022 crore in the quarter ended December 2016. Its gross refining margin (GRM) increased to $10.80 a barrel from $10.1 a barrel and Singapore GRM jumped to $6.70 a barrel from $5.10 a barrel on a sequential basis.
"Robust integrated platform, sound operational processes and business portfolio aligned to the needs of emerging India enabled Reliance to deliver another record performance in challenging market conditions," Mukesh Dhirubhai Ambani, Chairman and MD said.
On Tuesday, RIL stock was trading down almost 3 percent at Rs 1045.
