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Delta Corp Share Price Nosedives After 28% GST Announcement

After the Goods and Service Tax (GST) Council yesterday declared a 28% GST on the full value of online gaming, horse racing and casinos, the stocks of Delta Corp. massively dipped this morning.

28% GST Effect

Delta Corp’s closing price was recorded at ₹246.75 at the time of market closing yesterday at 3.30 PM on 11th July 2023. It opened today with a dipped price of ₹222.05 at 9.30 AM, and consequently fell at close to 23% to 189.20 at 11.30 AM today. 

Currently, the Deltin Group has three offshore casinos and two land-based casinos in Goa and one land-based casino in Sikkim and Nepal each. With the recent merger of subsidiaries, Deltin will now have the hotel and the integrated resort under the direct control of Delta Corp. One of India’s leading online poker platforms, Adda52, is also owned by the Deltin Group. 

More details about the effects of 28% GST to follow. Stay tuned to Gutshot Magazine. 

For more news and updates, keep reading Gutshot Magazine or follow us on our social media handles. We are present on Facebook, Instagram, Twitter, and Telegram.

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