The company has suspended the project until the taxation framework is clarified.
India.- Delta Corp has put on hold its plans for a proposed integrated resort in Dhargal, Goa. It cited uncertainty over the central government’s proposed increase in the Goods and Services Tax (GST) on casinos to 40 per cent.
The company said the project, valued between Rs20bn (US$2.2bn) and Rs25bn ($2.75bn), will be on hold until the taxation framework is clarified. The project includes various hotels, a convention centre, cinema, shopping mall, electronic casino, water park and a entertainment area for children. Completion was expected by 2027.
Delta Corp chairman Jaydev Mody said: “The 40 per cent GST contemplated will make the entire sector unviable. It will affect thousands of jobs, reduce visitation to the state, negatively impact revenue collection, and render past industry investments redundant. Our integrated resort, which would have created direct employment for 10,000 people, will remain on hold until all GST issues are clarified.”
Earlier this year, Delta Corp sold Deltatech Gaming Limited (DGL) to Head Digital Works (HDW) for Rs4.91bn (US$57m). DGL operates the online poker platform Adda52, while HDW operates online rummy and poker platform A23.
The company has suspended the project until the taxation framework is clarified. India.- Delta Corp has put on hold its plans for a proposed integrated resort in Dhargal, Goa. It…
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