Delta Corp has put plans to take its online gaming unit public on hold.<\/p>\n\n\n\n\n\n\n\n
India.- Delta Corp has made the decision to postpone plans to take its online gaming unit public due to the uncertainties surrounding the GST’s decision to\u00a0impose a tax rate of 28 per cent<\/a>\u00a0on the full face value amount for online gaming, casinos and horse racing betting. The company’s CFO,\u00a0Hardik Dhebar<\/strong>, expressed the importance of clarity for investors.<\/p>\n\n\n\n In the second quarter of the year,\u00a0Delta Corp’s online gaming unit<\/a>\u00a0contributed 15 per cent to its net revenue, excluding GST.\u00a0<\/p>\n\n\n\n The definition of online gaming is expected to be clarified during the\u00a0GST council’s upcoming meeting<\/a>\u00a0on Wednesday, August 2.\u00a0There have been doubts about\u00a0whether the tax will be levied on the entry-level or on each wager<\/a>. While officials have said there will be no revision to the proposed rate, the meeting will seek to resolve this aspect.<\/p>\n\n\n\n Various online gaming companies have expressed concerns over the potential ramifications of the tax, arguing that it could significantly impact volumes and the overall viability of gaming businesses.<\/p>\n\n\n\n The Indian government has warned that it will tack action against gaming sites that do not pay a proposed new tax rate.\u00a0The Finance Ministry and Ministry of Electronics and Information Technology (MeiTy) have said they will block non-compliant platforms. The\u00a0Directorate General of Goods and Services Tax Intelligence (DGGI)\u00a0<\/strong>will compile a list of violators.<\/p>\n","protected":false},"excerpt":{"rendered":" Delta Corp has put plans to take its online gaming unit public on hold.<\/p>\n","protected":false},"author":176,"featured_media":17272,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Delta Corp has deferred the initial public offering of its online gaming division due to regulatory uncertainty surrounding India's proposed 28% Goods and Services Tax (GST) on the full face value of online gaming, casinos, and horse racing. The company's CFO cited the critical need for clarity for investors, as the online gaming unit contributed 15% to its Q2 net revenue. The GST council is expected to clarify the tax's application during its upcoming August 2 meeting, amidst industry concerns over potential business viability impacts and government warnings of blocking non-compliant platforms.","focusai_entities":"Delta Corp, Hardik Dhebar, GST council, Finance Ministry, Ministry of Electronics and Information Technology (MeiTy), Directorate General of Goods and Services Tax Intelligence (DGGI)","focusai_location":"India","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0), payments_fraud_aml (0.8), product_ux (0.7), marketing_crm (0.7), affiliate_publisher (0.7), tech_data (0.7)","focusai_suggestions":[{"label":"GST clarity impact?","query":"What specific clarifications from the GST council meeting on August 2 are critical for Delta Corp to proceed with its online gaming unit's IPO, and how might different interpretations of the 28% tax impact its valuation and projected NGR?"},{"label":"Operator viability assessment?","query":"Beyond Delta Corp, how are other major iGaming operators in India assessing the long-term viability of their businesses under the proposed 28% GST on full face value, and what contingency plans or operational adjustments are being considered across gaming verticals?"}],"footnotes":""},"categories":[157,16333],"tags":[23890],"class_list":["post-777007811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-delta-corp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777007811"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007811\/revisions"}],"predecessor-version":[{"id":777007818,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007811\/revisions\/777007818"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17272"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777007811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777007811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777007811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Indian government to block gaming apps evading 28% Gaming tax<\/h2>\n\n\n\n