I guess Delta is at a critical juncture… and lot of things are not in thier hands…
- I think they have resigned to the fact they cannot grow thier gaming operation… license for more casinos is not forthcoming … they have also sold thier Nepal casino and are not looking at more options except Daman… which is on limbo for a long time
- GST is a issue they will come out of and the current Gaming business generates good cash…
- they are looking to deploy this Cash in real estate and I think they can do well …but again this has to play out
- Online gaming is a optionality… it can generate good valuations if all goes well…
I would buy below 100 with lot of patience as real estate play will take 5-7 years to play out…
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