Delta Corp has completed the acquisition of Adda52 for INR 223.9 crore rupees. Entire gaming industry stands to gain from this.
Delta Corp is one of India’s largest company in physical gaming, wheres Adda 52 is among the most visited online destination for rummy and poker. The Delta Corp-Adda acquisition and merger will be the most ideal “amalgamation” for the two made for each other brands, say industry insiders.
“This is a win-win situation for Delta Corp and Adda 52 that will also serve as a big booster for the gaming industry in India,” says Lokesh Suji form Esports Federation of India. “This kind of investment gives a boost to the entire industry. It has set a right kind of a valuation bench mark for the industry, which in the current scenario in India needs continuous investments. The deal will boost investors’ morale while also having a strong, positive impact on gaming platforms evaluations.”
Delta Corp owns Deltine casinos in Goa and Daman. Adda 52 has a specialization in poker, rummy, chess, pool, scrabble and golf. “Most of the egames on Adda 52 are played in physical forms in the Delta business. The Adda52 buyout is well in synch for business interests of Delta Corp, for whom creating their own e-gaming platform was not big deal,” says Suji
“But in our business the real challenge lies in acquiring and retaining customers. With Adda52 being there, how many poker of rummy players would have gone for a new platform. Acquiring Adda52 made a strong business sense for Delta Corp. Otherwise, creating a new eco-system was not easy,” adds Suji. “Furthermore, a deal worth INR 223 crore is a very, very good news for our industry.”
The companies had inked the deal last year.
With the completion of the deal, brand Adda52 owner Gaussian Networks becomes a fully-owned subsidiary of Delta Corp. Adda52 will expand platform and also enter into live streaming as well as offline activities.