Delta Corp hit with US$1.34bn tax bill

The news caused Delta Corp’s shares to fall to their lowest level since January 2021.

India.- Delta Corp has been issued with a notice to pay 111.40bn rupees (US$1.34bn) in tax arrears. The company, which operates casinos along with poker and rummy websites, had also disclosed that it, along with two subsidiaries, it has received intimations of an additional shortfall of 56.83bn rupees for the period from July 2017 to March 2022.

The news caused the company shares to plummet by as much as 20 per cent to their lowest point since January 2021. It’s the biggest intraday percentage drop since July 12, following a decision by India’s Goods and Services Tax (GST) Council to impose a 28 per cent indirect tax on gambling revenue.

See also: Delta Corp delays online gaming IPO due to GST uncertainty