Delta Corp sells Adda52 parent firm to Head Digital Works for Rs 491 crore

New Delhi: Delta Corp has entered into a strategic agreement to sell its skill gaming subsidiary, Deltatech Gaming (DGL), to Head Digital Works Private (HDW) for approximately Rs 491 crore. 

The deal, announced on February 20, 2025, marks a significant consolidation in India’s real-money gaming sector, bringing together two heavyweights: DGL’s Adda52, one of the country’s oldest and most prominent online poker platforms, and HDW’s A23, an online rummy and poker brand with over 75 million users.

The transaction will unfold in two phases. Initially, HDW, which is majority-owned by Canadian private equity firm Clairvest, will acquire a 51% stake in DGL through a cash-and-stock deal. This includes a cash payment of Rs 34.8 crore and an equity swap with HDW shares. Following this, DGL will fully merge into HDW, with Delta Corp retaining a 5.7% stake in the combined entity. 

The merger is expected to be completed before June 30, 2026.

Delta Corp first entered the online gaming space in 2016 by acquiring Gaussian Networks, the original parent of Adda52, for Rs 182 crore. For HDW, the acquisition accelerates its ambitions in the online poker space, which it entered in September 2023 with A23 Poker. 

Industry experts see this move as a bid to challenge rivals like Nazara Technologies, which recently acquired a 47.7% stake in PokerBaazi, and other pure-play poker platforms like Spartan Poker.