Hot Pursuit     12-Jul-23
Delta Corp tumbles after GST Council levies 28% tax on online gaming, casinos
Delta Corp slumped 21.41% to Rs 193.95 after the Goods and Services Tax Council decided to levy 28% GST on online gaming, horse racing and casinos on full value at its 50th meet in New Delhi on Tuesday, 11 July 2023.

The scrip had declined 27.80% to hit the day's low at Rs 178.20 in trade today.

On the BSE, over 20.90 lakh shares of the company had changed hands at the counter as compared with an average trading volume of 1.46 lakh shares in the past two weeks.

On the NSE, 5.80 crore shares of the company were traded in the counter so far as against an average trading volme of 29.60 lakh shares in the past three months.

The Goods and Services Tax (GST) Council on Tuesday levied a 28% uniform GST on online gaming, horse racing, and casinos on the full value of the bets. "I am happy to say we have arrived at a decision. There will be some amendments to GST law. Simply put, online gaming, horse racing, and casinos will be taxed at 28% and will be taxed on full face value," Finance minister Nirmala Sitharaman, who chairs the GST Council, has reportedly said.

Amendments to GST law will be brought to specify that tax will be applicable on the face value of the chips purchased in the case of casinos, on the full value of the bets placed with bookmaker/totalisator in the case of horse racing and on the full value of the bets placed in case of the online gaming.

During the year ended on 31 March 2023, Delta Corp had recorded revenue of Rs 1,020.77 crore and a net profit of Rs 261.37 crore. Of the total revenue, 1,010.65 crore was from Gaming Operations and Rs 191.39 crore was from Online Skill Gaming Operations.

Delta Corp is the only listed company engaged in the casino (live, electronic and online) gaming industry in India. The company is engaged in diversified segments like casino gaming, online gaming, hospitality and real estate.

Previous News
  Delta Corp gains after foraying into real estate
 ( Hot Pursuit - 30-Nov-23   16:09 )
  Borosil Renewables Ltd leads losers in 'A' group
 ( Hot Pursuit - 30-Jun-22   15:00 )
  Delta Corp Ltd leads gainers in 'A' group
 ( Hot Pursuit - 19-Jun-24   12:00 )
  Delta Corp invests in Peninsula Land for expansion in real estate sector
 ( Corporate News - 30-Nov-23   18:14 )
  Delta Corp consolidated net profit rises 8.98% in the December 2019 quarter
 ( Results - Announcements 14-Jan-20   16:20 )
  Volumes jump at Delta Corp Ltd counter
 ( Hot Pursuit - 12-Jul-23   14:30 )
  Delta Corp Ltd leads losers in 'A' group
 ( Hot Pursuit - 12-Jul-23   15:00 )
  Delta Corp tumbles after GST Council levies 28% tax on online gaming, casinos
 ( Hot Pursuit - 12-Jul-23   12:50 )
  Delta Corp to convene AGM
 ( Corporate News - 22-Jul-21   09:59 )
  Delta Corp spurts after Q3 PAT soars to Rs 71 cr
 ( Hot Pursuit - 12-Jan-22   10:33 )
  Delta Corp update on investment in newly incorporated WSPL Containers
 ( Corporate News - 03-Dec-21   10:50 )
Other Stories
  Avantel Q2 PAT jumps 42% YoY to Rs 23 cr
  05-Oct-24   17:03
  Equitas SFB total deposits jump 29% YoY in Q2 FY25
  05-Oct-24   16:28
  Ujjivan SFB total deposits rises 17% in Q2 FY25
  05-Oct-24   15:34
  L&T Finance retail disbursements jump 12% YoY in Q2 FY25
  05-Oct-24   14:31
  Bandhan Bank records over 21% YoY jump in loan book during Q2 FY25; deposits at Rs 1.42 lakh crore
  05-Oct-24   13:32
  Lupin's Pune-based biotech facility gets 5 observations from US FDA
  05-Oct-24   13:20
  Macrotech Developers pre-sales jumps 21% YoY in Q2 FY25
  05-Oct-24   09:04
  UCO Bank’s total advances jump 19% YoY in Q2 FY25
  04-Oct-24   15:15
  Vakrangee Ltd leads losers in 'A' group
  04-Oct-24   15:00
  Kamdhenu Ventures Ltd leads losers in 'B' group
  04-Oct-24   14:45
Back Top