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Gaussian Networks recently underwent a leadership change as Shivanandan Pare was elevated as its Chief Executive Officer (CEO).
Pare had joined the company in July last year as the CEO of Adda52Rummy. Pare will be taking over additional responsibility as the CEO of Adda52 from the outgoing Naveen Goyal in his new role.
Pare has previously led the new digital business division at Aditya Birla Fashion and Retail Ltd. and has also functioned as the COO of Bigadda at the Reliance Group. He has over two decades of experience working with some of the country’s foremost digital and e-commerce ventures.
Talking about his new role, Pare told reporters, “I am thrilled and honoured to lead Gaussian Networks, custodian of Adda52.com and Adda52Rummy.com, the leading brands in online real money gaming, Poker & Rummy.”
Gaining Ground in Goa
Delta Corp., the parent company of Gaussian Networks, has a strong interest in the casino industry and operates three offshore casinos in Goa, namely Deltin Royale, Deltin JAQK, and Deltin Caravela.
Apart from its properties in Goa, Delta also has a presence in the north-east in Casino Deltin Denzong.
It is fighting to establish itself in Daman and Diu, where the company launched The Deltin, India’s largest integrated casino resort in the Union Territory. However, it is yet to receive the regulatory approval to commence casino operations.
In January 2020, Delta Corp. also acquired a casino license in Kathmandu, Nepal.
In December 2020, Delta Corp announced that it had received in-principle approval from the Goa Investment Promotion and Facilitation Board for setting up an integrated resort at Pernem in Goa. The resort will include hotels, convention centers, multiplex cinema, retail area, electronic casino, water park, and other facilities.
Delta Corp Expands to Online Gaming
Gaussian Networks, the parent company of Adda52, was acquired by India’s largest and only BSE listed gambling company, Delta Corp. in 2016. Following the acquisition, Delta Corp became a dominant player in online poker.
In March 2019, the company diversified into fantasy sports by making an investment of ₹15.50 Crores in fantasy gaming portal HalaPlay. Gaming company Nazara Technologies is a co-investor in this venture.
Present Status
It has been a successful outing so far. So much as that during the COVID-19 induced lockdown, the company’s entire business, except for online poker and rummy, was suspended. However, over the past few years, the online poker domain has opened up considerably. With established brands doling out increasingly lucrative offers for their user base and upcoming operators getting significant investments from domestic and foreign companies, India’s online poker business has become extremely competitive.
According to the June 2020 quarterly report, the company’s revenue from its gaming segment alone stood at ₹57.01 Crores.
As per the company’s Annual General Meeting held in August 2020, Delta Corp. aims to keep growing its online gaming business by 20-25% every year, and more games could be added in the future. The company estimates that it has 50% of the market share in online poker in terms of players and revenue.
Though Adda52.com and Adda52 Rummy are prime properties of Gaussian Networks, the brand has been steadily losing market share.
With the competition getting tougher and tougher, Pare has his work cut out for him.