• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 23 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Delta Corp shares plummet as Indian government demands tax payment three times higher than company’s market cap

Newsdesk by Newsdesk
Tue 26 Sep 2023 at 05:36
12
SHARES
306
VIEWS
Print Friendly, PDF & Email

The share price of Indian gaming operator Delta Corp fell by almost 20% on Monday after the company revealed a notice of tax liabilities from the government.

In a Friday filing, Delta Corp said it had received from the Directorate General of GST Intelligence in Hyderabad an intimation for payment of a shortfall in tax amounting to 11,400 crore (US$1.34 billion) – roughly three times its total market cap. The shortfall, according to the notice, relates to the period from July 2017 to March 2022, with the Directorate General to issue a show cause notice if not paid promptly.

In its filing, Delta Corp observed that the claim is “based on the gross bet value of all games played at the casinos during the relevant period,” not dissimilar to recent moves by India’s GST Council to slap a 28% tax on gaming deposits for operators nationwide.

“Demand of GST on gross bet value, rather than gross gaming revenue, has been an industry issue and various representations have already been made to the Government at an industry level in relation to this issue,” Delta Corp added.

“The Company has been legally advised that the DG Notice and the tax demand is arbitrary and contrary to law, and the Company will pursue all legal remedies available to it to challenge such tax demand and related proceedings.”

Delta Corp shares fell by 18.59% on Monday to INR 142.80 (US$1.72).

RelatedPosts

Indian court denies request to block all online gambling sites during cricket World Cup

Indian parliament bans all real-money online gambling

Fri 22 Aug 2025 at 06:21
How Indian affiliates earn and scale with 1xPartners

How Indian affiliates earn and scale with 1xPartners

Fri 22 Aug 2025 at 05:32
Macau GGR hits MOP$19.8 billion in August, up 6% month-on-month

JP Morgan raises Macau GGR forecast again on recent surge in demand

Tue 12 Aug 2025 at 13:25
Delta Corp to acquire 45% stake in shipyard that built “Casino Royale” floating casino

Gaming sector shows strength as India’s Delta Corp reports income of US$22 million in June 2025 quarter

Tue 5 Aug 2025 at 05:58
Load More
Tags: Delta Corpgross gaming revenuesIndiatax
Share5Share1
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Wynn Macau

Wynn Macau Ltd to redeem in full US$1 billion of outstanding notes due 2026 in September

by Ben Blaschke
Fri 22 Aug 2025 at 11:00

Wynn Macau Ltd confirmed Friday that it will redeem in full senior notes due 2026 and valued at US$1 billion on 2 September 2025. The redemption includes the company’s US$750 million 5.500% senior notes due 2026 issued in June 2020...

Indian court denies request to block all online gambling sites during cricket World Cup

Indian parliament bans all real-money online gambling

by Newsdesk
Fri 22 Aug 2025 at 06:21

The Indian parliament has passed a bill that will ban all real-money online gaming, including skill games such as fantasy sports and poker. Reuters reports that India’s upper house passed the controversial Promotion and Regulation of Online Gaming Bill 2025...

Sri Lankan cabinet approves creation of Gambling Regulatory Authority

Sri Lankan parliament passes Gambling Regulatory Authority Bill

by Ben Blaschke
Fri 22 Aug 2025 at 06:03

Sri Lanka’s Gambling Regulatory Authority Bill has been passed by the nation’s parliament with amendments, local media has reported. The Bill, which was gazetted in May under the directives of President Anura Kumara Dissanayake in his capacity as the Minister...

Winford Resort & Casino Manila becomes first Philippines IR to commit to 30% plant-based menu by 2026

Winford Resort & Casino Manila becomes first Philippines IR to commit to 30% plant-based menu by 2026

by Newsdesk
Fri 22 Aug 2025 at 05:40

Winford Resort & Casino Manila has become the first gaming complex in the Philippines to publicly commit to a comprehensive plant-forward initiative, pledging to make 30% of all menu offerings plant-based across its food service operations by early next year....

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English