Delta Corp enters agreement with Head Digital Works for Rs 491 crore acquisition and merger deal

Delta Corp Limited, India’s leading listed casino and gaming company, has announced a strategic agreement with Head Digital Works Private Limited (HDW) for the acquisition of Deltatech Gaming Limited (DGL), operator of the popular online poker platform ‘Adda52’. The deal, valued at approximately INR 491 Crore, will also involve the merger of DGL with HDW, a prominent player in the online gaming space with its flagship brand ‘A23’.

The transaction will be executed in two phases. Initially, HDW will acquire a 51% stake in DGL, followed by the complete merger of DGL with HDW. Post-merger, Delta Corp Limited will hold a 5.7% stake in HDW. Adda52, one of India’s oldest online poker platforms, will join forces with HDW’s A23, a leading online rummy and poker platform with over 75 million users, strengthening their position in India’s real-money gaming market.

This acquisition marks a significant milestone in India’s gaming industry, combining the expertise of two major players. HDW, known for pioneering online rummy and real-money gaming in India, will further expand its portfolio, which includes online rummy, poker, and cricket content.

Indium Capital Advisors acted as the exclusive investment banking advisor, while AZB & Partners and Spice Route Legal provided legal counsel to Delta Corp Limited and HDW, respectively. This deal underscores the growing consolidation in India’s online gaming sector, promising enhanced offerings for gaming enthusiasts nationwide.

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