Delta Corp shares surge 15% on GST cut hopes

Shares of Delta Corp, the only listed company engaged in the casino gaming industry in India, surged nearly 15% on BSE to the day’s high of Rs 151 as the Goods and Services Tax (GST) Council is likely to consider a review of tax on online gaming in its next meeting on June 22.

The council is expected to review the decision to levy 28% GST on the full value of bets for online gaming companies, which came into effect on October 1, 2023, they said. The council had agreed to review it after six months of implementation.

The council may also take up the recommendation of the fitment committee on an inverted duty structure of 15 items, officials aware of the matter told ET. However, a broader process of rate rationalization may be pushed for later, they said.


The apex decision body for GST could also take up a proposal for clarification on the levy of tax on the secondment of employees.

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The industry also expects the council to issue clarifications on critical matters such as related-party transactions, employee stock option plan (Esop) taxation, corporate guarantee and inverted duty structure in textiles and fertilizers among others.

The GST Council had last met on October 7, 2023.

Incorporated in 1990 as a textiles and real estate consultancy company, Delta Corp has evolved into diversified segments like casino gaming, online gaming, hospitality and real estate.

The company, along with its subsidiaries, currently owns and operates casinos in India, in the states of Goa and Sikkim. They have also ventured into the fast-growing online gaming space through our acquisition of Gaussian Networks Private Limited, which operates the online poker site 'Adda52.com'.

Delta Corp also holds three of the six offshore gaming licenses issued in Goa, one land-based casino in Goa, and one in Sikkim and two online gaming sites.

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