Delta Corp Makes Rs. 15.50 Crore Investment in HalaPlay, Sells Off Its Fantasy Sports Portal

Delta Corp Ltd., India’s only listed gaming and hospitality company, has made a significant investment in fantasy gaming portal HalaPlay. The company has announced that it will invest Rs. 15.50 crores in Halaplay Technologies Pvt. Ltd., acquiring a 15.52% stake in the company at a post-money valuation of around Rs. 100 crores.

In a regulatory filing to the stock exchanges, Delta Corp stated that the investment will be made in two tranches, and they will receive a total of 31,994 equity shares in HalaPlay. The company aims to complete the entire transaction on or before 1st May 2019, subject to fulfillment of conditions precedent by HalaPlay.

As part of the transaction, Delta Corp’s wholly owned subsidiary, Gaussian Networks Private Limited, which operates online skill gaming brands including Adda52, has entered into a business transfer agreement to transfer its fantasy sports division, ‘LeagueAdda,’ to Halaplay. In exchange, Gaussian will be allotted a 4.03% shareholding (10,320 equity shares) in HalaPlay. The combined shareholding of Delta Corp and Gaussian Networks in HalaPlay after the completion of the transaction will be 19.55%.

Delta Corp emphasized that the transaction will strengthen its position in the online gaming space. HalaPlay, founded by Swapnil Saurav, Prateek Anand, Ananya Singhal, and Aman Kesari, boasts around 2 million registered users and reported total revenues of Rs. 2.98 crores for the financial year 2017-18. It is considered the second largest fantasy sports portal in India, after Dream11. In November 2017, Kae Capital and Nazara Technologies Limited had also invested in HalaPlay.

This strategic investment by Delta Corp demonstrates its commitment to expanding its presence in the growing online gaming industry. The company’s move to acquire a significant stake in HalaPlay reflects its confidence in the potential of the fantasy gaming market in India. With this investment, Delta Corp aims to capitalize on the increasing popularity of online gaming and further solidify its position in the industry.