Leading Gaming & Hospitality Company Acquires Adda52 for $23 Million
Adda52 Merge with Delta Corp
Online rummy gaming and poker startup Adda52.com was recently acquired by Delta Corp, casino and hospitality operator for $23 million in a stock deal and cash. Delta Corp will primarily get a stake of 26% in Adda52’s holding company’s Gaussian Networks and will complete the transaction in mid of next year. The deal values the venture at Rs 182 crore and that is almost the four times of its revenues. For the fiscal 2015-16, the firm produced a turnover of Rs 47.13 crore. For the Delta Corp, acquirement will mark its beginning into the online gaming sphere. Delta Corp commenced THE DELTIN in Daman that it claims to be India’s leading integrated casino resort in 2014, located at the close propinquity along the Mumbai – Ahmadabad route.
The Kolkata-based startup Adda52 was established by Anuj Gupta, an IIT-Delhi alumnus, which claims to specialize in games such as poker, rummy, chess, golf, scrabble and pool among others. Its products include adda52.com, adda52rummy.com, and adda52mart.com to provide the online versions of the card games and related products.
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