Delta Corp takes minority stake in fantasy sports operator

Indian casino operator Delta Corp has acquired a 15.52% stake in Halaplay Technologies, the parent company of fantasy sports brand Halaplay.

Delta Corp has purchased 32,000 shares in Halaplay Technologies for INR155m (£1.7m/€2.0m/$2.2m) and expects to complete the transaction before May 1.

As part of the deal, Delta-owned subsidiary Gaussian Networks has entered into a business transfer agreement to transfer its online fantasy gaming business to Halaplay.

In return, Gaussian will be allotted 10,320 equity shares of Halaplay, equal to 4.03% of the share capital of Halaplay. Neither sections of the transaction are statutory or regulatory approvals.

Delta Corp said the acquisition will strengthen its position in the online gaming space.

Founded in August of 2016, Halaplay Technologies reported gross turnover of INR29.8m in the 2017-18 financial year. This represented significant growth on its debut year in 2016-17, during which turnover amounted to INR571,000.

Halaplay customers can take part in cash-based fantasy games across a range of sports and tournaments, including football’s English Premier League and a host of cricket competitions.

Delta Corp owns and operates a network of land-based and offshore casinos across the Indian states of Goa and Sikkim, and also offers online poker via Adda52, which it acquired in 2017.