28 Sep 2016

Breaking news: Delta Corp set to acquire Ace2three for around $100 million as per news reports

Ace3Three Deal Details - on TV

Just weeks after the announcement of its plan to fully acquire leading poker website Adda52, Delta Corp is in advanced stages of discussions with Head Infotech Pvt. Ltd., which operates Ace2three.com, the leading online rummy website in India.

As per a series of tweets on the ET Now Twitter page yesterday, Delta Corp seems to be in discussions to buy out Ace2three. More contours of the purported deal have emerged today, with news channel ET Now suggesting that Delta Corp may acquire Ace2Three for around US$80-100 million (around Rs. 528-660 crores), which is likely to be a stock and cash deal. The announcement may be made by mid-October as per the report. Head Infotech’s EBIDTA for the previous year was around Rs. 100 crores, while its turnover is in the range of Rs. 200 crores. Ace2Three is said to have around seven million users on its rummy platform.

If the deal goes through, it will make Delta Corp the number one player in the online skill games space as it will assume leadership position for both, rummy and poker games. Over the past few months, Delta Corp has tried to consolidate its position as a market leader in the gaming and casino space and the recent deals show that it is aggressively trying to entire the online gaming space as well.

Delta Corp has recently restarted operations in its third offshore casino, Deltin Caravela and also announced a new casino that is to be launched in Hotel Denzong Regency in Gangtok. It is believed that the casino operations in Hotel Denzong Regency will commence before Diwali, although the company has not yet announced an official date for the launch.

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