In a recent regulatory filing, Delta Corp has announced the reappointment of Ashish Kapadia as Managing Director (MD) of the company. The decision was taken at the meeting of the Board of Directors held on Tuesday, June 20, 2023.
Kapadia will be dealing the role of MD for the next five years starting April 2024 till April 2029. The final decision regarding this is subject of approval at the upcoming Annual General Meeting (AGM) of the gaming and casino incorporation.
According to Mint, Kapadia holds a bachelor’s degree in commerce and has been in the role of Managing Director at Delta since April 2009. He also has prior experience across several sectors including gaming, hospitality and real estate.
Under Kapadia’s able management, Delta Corp saw a huge jump in its revenue over the years. In the recently declared Q4 2023 results, the company’s annual net profit went up to 51 crore, however, the quarterly net profit went down by 40%.
Delta eyes big with upcoming projects
The announcement comes amidst the recent developments in the 90 acre township project near the Mopa Airport. As previously reported, the Deltin Town resort-cum-casino project in Dhargalim has been recommended by Goa-SEAC and is just one step away to receive environmental nod.
While there are several conditions imposed on the project like having appropriate provisions for installation of solar panels with LED-based outdoor and common area lighting and elements to cut down on power usage to offset harmful environmental impact.
The company has estimated that they will complete the project by 2027, although the company is battling some opposition from local activists groups like the women’s NGO Bailancho Saad claiming that more casinos will have further degrading impact on the youth of Goa.
As of now, the final decision regarding the project will be taken by the Goa State Environment Impact Assessment Authority (Goa-SEIAA) which will soon review the casino-integrated township project.