Monday, July 15, 2024 - Login

Delta Corp to complete merger with Adda52 company


Gaming operator Delta Corp. has completed its merger with Gauss Networks, the holding company of Adda52, after receiving approval from the National Company Law Tribunal (NCLT), according to a regulatory filing to the Stock Exchange.

Delta Corp said that as part of the deal, it has completed the purchase of 2,501 equity shares and 10,753 compulsorily convertible preference shares of Gauss Networks, representing 25.99 percent of its total share capital.

Following receipt of the certified copy of the NCLT order, Adda52 will officially become a wholly owned subsidiary of Delta Corp, said the company.

Delta Corp’s intention to acquire Adda52 was first announced in October 2016, while shareholders gave the green light for the merger in March this year.

Adda52 is a market leader in the online poker space, and its merger is said to give an instant leadership position in the online poker space to Delta Corp, according to Glaws.

Delta Corp also recently announced it would be be aggressively expanding its already existing online rummy platform and it will very soon also foray into fantasy sports and other games through the Adda52 brand.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief