Delta Corporation recently announced its purchase of about 32,000 equity shares from the online fantasy sports website, HalaPlay Technologies. This equity shares represents 15.5% of Halaplay’s capital shares. While providing the prerequisite filing with the stock exchanges, Delta Corporation mentioned that the company has made an investment in HalaPlay and the last phase of the transaction is expected to be finalized by May 1.
According to report, the transaction will involve the transferring of the fantasy sports division of a Delta Subsidiary company, Guassian Networks Private Limited, to HalaPlay. This transaction is expected to increase the equity shares of Gaussian in HalaPlay by 4.03%. This brings the equity shares of Delta Corp and Gaussian Networks to about fifth part of HalaPlay shares at a total of 19.55%. This volume of shares gives the company significant clout and role in the online gaming world where expansion is a main concern for Delta.
Suffice to mention that the latest investment of Delta Corp did not come as a big surprise, giving the fact that in November of 2017, news filtered out that Nazara Games and Kae Capital had invested individually in the fantasy sports scene.
Nazara Games investment came at the wake of the announcement of its plan to expand its operations, and with the investments from Rakesh Jhunjhunwala and WestBridge Capital, the organization plans to include additional four locations to its coverage, with India and Africa being the principal destinations. This has enabled Nazara to expand into other areas such as sports gambling, in addition to fantasy sports.
It is anticipated that the debut of Delta Corp into the world of fantasy sports will bring a breath of fresh air to HalaPlay and the industry in general. It is of import to mention that HalaPlay is the second biggest fantasy sports website in India, with Dream11 being the first. However, this position can change considerably with the investment of Delta Corp in HalaPlay.