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DeltaCorp Shares Value Rises ~6% As SC Agrees To Hear Plea Against GST Notices

Delta Corp, the parent company of Deltin Casinos,  is in the news again. The Indian real-money gaming industry seems to be waiting with bated breath for 10 January, the day when the Supreme Court will hear a plea against the 28% retrospective GST tax demand notices that the industry received. The deadline for those notices expires in February 2025, and they become tax notices. As news spread that the Supreme Court would look into the matter on 10 January, DeltaCorp’s shares saw a ~6% increase in valuation.

The Supreme Court ruling will be the latest in the ongoing poker and real-money gaming story in India. In 2023, the Government of India announced that all online games that involved bets, including skill-based and luck-based, would attract a 28% GST tax through an amendment. However, the calculation would happen retroactively since 2017. The tax demand could go up to ₹1.12 Lakh Crore, with the penalties doubling the amount. For a nascent industry, it could be the death knell. 

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ALSO READ: Delta Corp Shares Surge 11.34% Amid Tax Relief Speculation

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The 28% GST demand has forced several shutdowns and lay-offs in the industry, and companies have been forthright about the repercussions they have faced. In 2024, before the GST Council meeting, there were rumours that the 28% GST on gaming would be discussed, but unfortunately, that was not to be so. It now remains to be seen what happens on 10th January.

Earlier, MPL announced layoffs in the wake of the GST demand in August 2023. The common consensus is that the GST demands will create havoc in the industry and be responsible for lay-offs and even shut-down of companies.

Delta Corp is one of the biggest brands in the Indian poker industry and one of the few that holds live poker events in the country. As of writing this article, DeltaCorp is trading ₹114, up from ₹110, the valuation of the shares before the news broke.  While this could have a positive effect across the board until the 10th, it remains to be seen what the judgement will be and its effect on the Indian gaming industry in general. 

Delta Corp Limited is a prominent player in the Indian gaming and hospitality industry, recognized as the country’s only listed gaming company. Established in 1990, the company operates several high-end casinos and luxury hotels across key locations like Goa, Sikkim, and Nepal. It offers diverse gaming experiences, including live casinos and online platforms such as Adda52. Delta Corp has played a pivotal role in shaping India’s gaming sector, providing world-class entertainment while adhering to regulatory standards. With a strong focus on innovation and customer satisfaction, the company continues to expand its footprint in gaming and hospitality.

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