Delta Corp forays into online gambling with Adda52.com purchase

India’s largest gaming and hospitality company is taking a $7 million punt on the online gambling space.

Delta Corp. announced on Wednesday that it is acquiring 26 percent of shares in Gauss Networks Pvt. Ltd., the company that owns and operates India’s largest poker site Adda52.com.

In a filing to the National Stock Exchange of India Ltd., the hospitality company said it expects to pay ₹47.30 crore ($7.06 million) in cash to acquire 26 percent of the shares of Gaussian Networks, as well as offer optionally convertible preference shares (OCP) and redeemable preference shares (RPS) to the founder shareholders of Gaussian Networks.

Adda52.com will become a subsidiary of Delta following the purchase, and “will witness Delta’s entry into online space and will give it an instant leadership position in the online poker space,” the company said in a statement.