Delta Corp: how a 28% GST on casinos robbed the stock of INR1,500 crore in market cap
The GST council has imposed a 28% tax each on online gaming, horse racing, and casinos, and on full face value. This has impacted Delta Corp the most, with its stock crashing 28%. The casino chain is currently available at a cheaper valuation than its peers in the hospitality and pure-play gaming segments. Should investors place their bets?