India’s Delta Corp has booked a significant loss for 2Q26, totaling Rs 212.42 crore (US$22.3 million) amongst a significant change to the nation’s Goods and Services Tax (GST).
According to results filed earlier this week, India’s only listed gaming operator registered total income from its casino gaming operations segment of Rs 151.85 crores (US$15.9 million), down from Rs 172.71 crore (US$18.1 million) in the same period of last year.
The group’s hospitality segment, meanwhile, saw an uptick from Rs 12 crore (US$1.26 million) in 2Q25 to Rs 16.55 crore (US$1.74 million), helping balance total income to Rs 178.14 crores (US$18.7 million) during the period, still down from Rs 195.84 crores (US$20.5 million) in 2Q25.
The group has cited numerous reasons for the downturn in its results, including the GST – for which it made an allotment of Rs 200.62 crores (US$21.0 million) for the period ended 30 June 2026. The company also cited investment of Rs 650.58 crores (US$68.2 million) in two subsidiaries that have received GST notices “for alleged short payment of GST aggregating to Rs 5,457.29 crores (US$572.3 million).” This is linked to a further investment of Rs 159.08 crores (US$16.7 million) in an online gaming company “who had received notices for alleged short payment of GST to Rs 6,384.32 crores (US$669.5 million).”
The group has also provided short-term loans to the two subsidiaries totaling Rs 204.50 crores (US$21.4 million).
Despite this, and “pursuant to the Hon’ble Supreme Court judgement” regarding how the GST should be calculated, the group added that “based on management’s assessment of the recoverable amounts for investment in subsidiaries and short-term loans, no provision for impairment is currently required.”
Amongst the financial confusion, the group also “closed down its operation in Deltin Denzong Casino, Sikkim to improve operational efficiency and long-term profitability.”
The group is now pending a special waiver on a recent court judgement that determined it was not allowed to operate slot machines at the Deltin Hotel.
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