India’s listed gaming and hospitality company, Delta Corp Ltd. has recently announced that it has acquired 31,994 equity shares in Halaplay Technologies Pvt. Ltd, a company that operates Halaplay, a fantasy sports portal, which is considered to be the second largest in the industry, after Dream11.
The 31,994 shares constitute 15.52% stake of the capital shares in Halaplay. The final transaction (subject to fulfillment of conditions precedent by HalaPlay) will be concluded on or before May 1.
As part of the deal, Delta Corp-owned subsidiary Gaussian Networks (the company operating Adda52 and other gaming platforms) will be transferring their fantasy sports division ‘LeagueAdda’ to HalaPlay. In return, this will give Gaussian Networks 4.03% of the equity shares in HalaPlay.
“As part of the transaction, Gaussian Networks Pvt. Ltd., a wholly owned subsidiary of Delta Corp, has entered into a business transfer agreement to transfer its online fantasy gaming [LeagueAdda] as a going concern to Halaplay and will be allotted 10,320 equity shares of Halaplay resulting in Gaussian holding 4.03% of the share capital of Halaplay,” Delta Corp’s filing in the Bombay Stock Exchange reads.
After the completion of the transaction, the combined shareholding of Delta Corp and Gaussian Networks in HalaPlay will amount to 19.55% of the equity shares. That will not only allow Delta Corp to dive into sports fantasy world but also let them play a significant role in the gaming space.
Talking about Halaplay, it is second largest fantasy sports portal in the gaming industry, after Dream11. The company was founded back in 2016 by Swapnil Saurav, Ananya Singhal, Prateek Anand and Aman Kesari. They claim to have registered around 2 million users on their portal. They have also reported that they had total of revenues of INR 2.98 crores for the financial year 2017-18. With Delta Corp investing into Halaplay, they could soon find them at the top in fantasy sports world.
Want to win big in poker but don’t have account as yet? Sign-up HERE & get 1000 to play!
