DELTACORP

** Shares of casinos and gaming operator Delta Corp DELT.NS down 8.5% to 87.1 rupees

** India govt increases tax rates on casinos, betting, online money gaming to 40% from 28% earlier

** Stock set to drop most in a session since March 13, 2024

** Nearly 8.8 mnln shares traded, ~2x its 30-day moving avg

** YTD, DELT down ~21%

(Reporting by Anuran Sadhu in Bengaluru)

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** Shares of online gaming stocks drop 2%-5% over two days

** On Thursday, Parliament passed bill banning online games involving money, citing financial and psychological risks

** Nazara Tech NAZA.NS fall 4%; Bloomberg News reported Thursday co may write down poker app stake, Reuters could not verify report

** Delta Corp DELT.NS and OnMobile Global ONMO.NS fall 2% each

** Fantasy cricket platforms Mobile Premier League (MPL) and Dream 11 suspend all money-based games

** Gaming firms may challenge ban in Supreme Court

** YTD, NAZA up 20%, DELT and ONMO down 39% and 22%, respectively

(Reporting by Urvi Dugar)

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Aug 21 (Reuters) - Shares of Nazara Tech NAZA.NS slumped over 21% in two sessions and were headed for their steepest two-day fall on Thursday, after India’s lower house of parliament passed a bill banning online games involving monetary stakes, which analysts warned could make the sector "infeasible".

The gaming platform operator's stock fell 9.5% on the day, extending losses after a 13% slide on Wednesday, and hitting a 15-week low of 1,125.1 rupees.

The bill, which now awaits review in parliament's upper house, says that no person "shall offer, aid, abet, induce or otherwise indulge or engage in" offering online money games and related services.

Violations could result in a jail term of up to three years and a fine, as per the bill.

ICICI Securities said the move would make real-money gaming “infeasible” in India, and downgraded Nazara to “reduce” from “add”, slashing its price target to 1,100 rupees from 1,500 rupees.

The brokerage also cut the valuation of Moonshine Technology, which operates PokerBaazi and other card-based platforms, to zero from 400 rupees. Nazara holds a 47.71% stake in Moonshine.

Nazara Tech is rated "hold" on average, while its median price target is 1,315 rupees, as per data compiled by LSEG.

The stock’s decline has erased more than half of its year-to-date gains. It is now up 9% so far this year, compared with 38%, as of Tuesday.

Shares of peers OnMobile Global ONMO.NS and Delta Corp DELT.NS fell about 3% each on Wednesday, following Reuters' report on the proposed bill.

(Reporting by Manvi Pant and Kashish Tandon; Editing by Sonia Cheema)

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** Indian gaming platform operators Nazara Tech NAZA.NS and Delta Corp DELT.NS fall 4.4% and 3.3%, respectively

** India plans to ban online games played with money, Reuters reports, citing a proposed bill

** NAZA set for worst day in seven months

** Bill says no person "shall offer, aid, abet, induce or otherwise indulge or engage in" the offering of online money games and such services, adding that anyone who offers such money games could face a jail term of up to 3 years and a fine - report

** India's IT Ministry, which drafted the bill, did not respond to Reuters request for comment

** NAZA says it does not see material impact from new bill as it does not have direct exposure to so-called real money games

** YTD, DELT down 19% vs NAZA's 32% climb

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Delta Corp DELT.NS fall as much as 5.2% to 104.7 rupees, lowest since June 4, 2024

** Casinos and gaming operator said consolidated revenue fell 7.5% Y/Y to 1.94 bln rupees ($22.4 mln)

** Co hurt by a more than 3% fall in revenue from core gaming ops segment, which accounts for 75% of total rev

** More than 3.5 mln shares change hands, 1.4x its 30-day avg

** Stock shed 24% in 2024

($1 = 86.5650 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Jan 13 (Reuters) - Delta Corp Ltd DELT.NS:

• INDIA'S DELTA CORP DEC-QUARTER CONSOL NET PROFIT 357.3 MILLION RUPEES

• DELTA CORP DEC-QUARTER CONSOL NET SALES 1.94 BILLION RUPEES

Source text: [ID:]

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS rise 5% after media report says India's Supreme Court stays tax order on online gaming companies

** The court has stayed Directorate General of GST Intelligence's demand for tax arrears of 1.12 trillion rupees ($13.04 bln) on online gaming companies and casinos, Economic Times reports

** DELT got notice to pay tax arrears worth 63.84 bln rupees in Oct. 2023 and 111.40 bln rupees in Sept. 2023, while NAZA's units got tax orders of 8.46 bln rupees and 2.74 bln rupees in July 2024

** Delta declined 1% before the report, while Nazara Technologies NAZA.NS was trading around 3% lower; NAZA last down 1%

** Trading vols at 8.5x and 3x the 30-day avg for DELT and NAZA, respectively

** DELT fell 24% in 2024, while NAZA rose 18%

($1 = 85.8775 Indian rupees)

(Reporting by Nishit Navin)

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Dec 6 (Reuters) - Delta Corp Ltd DELT.NS:

• DELTA CORP LTD- TO REVISE DEAL BETWEEN CO, DELTIN HOTEL & RESORTS

• DELTA CORP LTD- REAL ESTATE BUSINESS SHALL BE DEMERGED INTO DELTA PENLAND

Source text: ID:nBSE86kJ50

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS falls 5.3% to 113 rupees, their biggest one-day loss in more than three months

** Casino and gaming co's Q2 consol profit sinks 61% while its total revenue declined 28%, hurt by a 23% decline in casino gaming division revenue

** DELT sees busiest day in a month, with over 1.6 mln shares traded

** Stock last down 2%, dragging YTD losses to 18%

(Reporting by Aleef Jahan in Bengaluru)

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Nov 6 (Reuters) - Delta Corp Ltd DELT.NS:

• DELTA CORP SEPT-QUARTER CONSOL NET PROFIT 269.8 MILLION RUPEES

• DELTA CORP SEPT-QUARTER CONSOL REVENUE 1.88 BILLION RUPEES

Source text: [ID:]

Further company coverage: DELT.NS

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** Shares of India's Delta Corp DELT.NS climb 7.5% to 139 rupees

** Casinos-to-resorts firm approved demerger of its hospitality and real estate business into a co called Delta Penland Pvt Ltd

** YTD, DELT has fallen more than 4%

(Reporting by Hritam Mukherjee in Bengaluru)

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Sept 24 (Reuters) - Delta Corp Ltd DELT.NS:

• DELTA CORP - APPROVED DRAFT COMPOSITE SCHEME OF ARRANGEMENT BETWEEN CO AND DELTA PENLAND

• DELTA CORP - SCHEME PROVIDES FOR DEMERGER OF CO'S HOSPITALITY AND REAL ESTATE BUSINESS

• DELTA CORP LTD - ANNOUNCEMENT OF DEMERGER OF HOSPITALITY & REAL ESTATE BUSINESS BACKGROUND

• DELTA CORP - DELTA PENLAND WILL ISSUE, ALLOT 1 SHARE FOR EVERY 1 SHARE HELD BY SHAREHOLDERS IN CO

Source text for Eikon: ID:nNSE7tM65W

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS fall 3% to 138.6 rupees

** Stock set for biggest one-day drop in over two weeks

** The casino and gaming reports 68% slump in Q1 net profit as revenue from its key gaming operations segment falls 25%

** Over 8.4 mln shares change hands, 1.3x the 30-day avg

** Stock down 5% so far this year, on pace for third straight annual drop

(Reporting by Ashna Teresa Britto in Bengaluru)

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July 9 (Reuters) - Delta Corp Ltd DELT.NS:

• Q1 CONSOL NET PROFIT 216.8 MILLION RUPEES

• Q1 CONSOL REVENUE 1.81 BILLION RUPEES

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS rise as much as 16.9% to 154.66 rupees

** Rise after media reports said that India's Goods and Services Tax council could consider a review of retrospective tax on online gaming in its upcoming meeting on June 22

** The GST Council will discuss this proposal on June 22 and If approved, it could lead to tax reduction for online gaming companies like DELT

** Stock clocks busiest session since early December 2023

** Nearly 54 mln shares change hands, 22x the 30-day moving average

** Stock last up ~12%, rose 1.7% YTD

(Reporting by Yagnoseni Das in Bengaluru)

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May 8 (Reuters) - Delta Corp Ltd DELT.NS:

• STRATEGIC PARTNERSHIP WITH ALPHA ALTERNATIVES FUND ADVISORS, ANY FUNDS MANAGED BY ALPHA ALTERNATIVES FUND ADVISORS, PENINSULA LAND

• DEAL FOR 900 MILLION RUPEES

• PLATFORM PROPOSED TO BE FUNDED WITH AMOUNT OF UP TO 7.65 BILLION RUPEES

Source text for Eikon: ID:nBSE4B74nL

Further company coverage: DELT.NS

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May 7 (Reuters) - Delta Corp Ltd DELT.NS:

• DELTA CORP LTD - DIVIDEND 1.25 RUPEES PER SHARE

• DELTA CORP MARCH-QUARTER CONSOL NET PROFIT 724.1 MILLION RUPEES VERSUS PROFIT 511.7 MILLION RUPEES

• DELTA CORP MARCH-QUARTER CONSOL TOTAL INCOME 2.13 BILLION RUPEES VERSUS 2.33 BILLION RUPEES

Source text for Eikon: [ID:]

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Feb 29 (Reuters) - Delta Corp Ltd DELT.NS:

• APPROVED INCORPORATION OF DELTA PENLAND PRIVATE LIMITED

• DELTA PENLAND TO BE JOINT VENTURE BETWEEN PENINSULA LAND AND CO FOR REAL ESTATE DEVELOPMENT

Source text for Eikon: ID:nBSE1SN3Vf

Further company coverage: DELT.NS

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** Shares of casino and gaming co Delta Corp DELT.NS fall as much as 5% to 143.10 rupees

** Co reports a 59.4% fall in Dec-qtr net profit to 344.8 mln rupees ($4.15 mln) Y/Y, its first profit fall after rising for previous two quarters

** Rev from key gaming ops segment fell 18.2%, smaller online skills gaming ops segment rev fell 9.1%

** Stock on track for first weekly decline after four straight weeks of gains

** DELT trading below its 200-day simple moving avg since July 12, 2023 after tax authorities imposed 28% tax on gaming and casino cos

** DELT last down 2.4%; stock fell 31.4% in 2023

($1 = 83.1675 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Jan 9 (Reuters) - Delta Corp Ltd DELT.NS:

• DEC-QUARTER CONSOL NET PROFIT 344.8 MILLION RUPEES VERSUS 848.2 MILLION RUPEES

• DEC-QUARTER CONSOL NET SALES 2.32 BILLION RUPEES VERSUS 2.73 BILLION RUPEES

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS up as much as 5% at 145.80 rupees

** High Court of Calcutta granted interim relief to Delta Corp's unit - Deltatech Gaming in relation to a GST notice for tax arrears

** DELT got notice to pay tax arrears worth 63.84 bln rupees ($765.8 mln) in October and 111.40 bln rupees in September

** ~9.1 mln shares change hands, 1.4x the 30-day moving average

** Stock last up 2%; down ~33% YTD

($1 = 83.3620 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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Dec 6 (Reuters) - Delta Corp Ltd DELT.NS:

• UPDATE ON DEMAND FOR PAYMENT RECEIVED FOR SHORTFALL OF TAX PAID BY UNIT FROM TAX AUTHORITIES

• HIGH COURT HAS GRANTED INTERIM RELIEF TO DGL

Source text for Eikon: ID:nNSEbNq8YQ

Further company coverage: DELT.NS

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** Shares of Indian casino operator Delta Corp DELT.NS rise as much as 8.9% to 154.20 rupees, highest since Sept. 25; last up 5.8%

** Co says it will enter realty sector with investment of 2.5 bln rupees ($30.02 mln) in a joint venture with real estate co Peninsula Land PENL.NS

** DELT will also invest 1 bln rupees in PENL

** About 14.6 mln DELT shares change hands, 3x the 30-day avg

** PENL shares up 5% at 51 rupees

** DELT shares down 29% YTD, while PENL shares have nearly quadrupled

($1 = 83.2675 Indian rupees)

(Reporting by Sethuraman NR in Bengaluru)

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Nov 30 (Reuters) - Delta Corp Ltd DELT.NS:

• APPROVED PREFERENTIAL ISSUE OF SECURITIES TO DELTA CORP

• TO ISSUE SHARES WORTH 660 MILLION RUPEES TO DELTA

• TO ISSUE COMPULSORILY CONVERTIBLE DEBENTURES WORTH 340 MILLION RUPEES TO DELTA

• CO, DELTA ALSO PLAN TO COLLABORATE FOR DEVELOPING COMMERCIAL AND RESIDENTIAL PROJECTS IN MUMBAI AND GOA BY SETTING UP JV

• CO, DELTA TO INVEST 2.5 BILLION RUPEES IN JV

Further company coverage: DELT.NS

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** Shares of Delta Corp DELT.NS up as much as 8.2% to 140.65 rupees, their biggest intra day pct gain since June 17

** Casino operator said Indian court directed GST intelligence to not pass final orders on tax notices against the company without the court's permission

** DELT got notice to pay tax arrears worth 63.84 bln rupees ($768.4 mln) earlier this month and 111.40 bln rupees in Sept.

** Stock last up 4.9%; down 36% YTD

($1 = 83.0860 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Delta Corp DELT.NS fall as much as 9.1% to 127.3 rupees, lowest since Sept. 25

** Co says its unit, Deltatech Gaming, received intimation for payment of shortfall tax

** Says, received notice for shortfall of 62.37 bln rupees ($749.23 million) from Jan 2018 to Nov 2022 and shortfall worth 1.48 bln rupees between July 2017 to Oct. 2022

** More than 8.8 mln shares change hands by 09:30 a.m. IST, less than the 30-day avg of 9.4 mln shares

** Stock currently down 8.1%, extending YTD losses to ~43%

($1 = 83.2450 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Delta Corp DELT.NS up as much as 4.2% at 149 rupees

** Indian casino operator on Wednesday posted a 1.7% YoY increase in Sept qtr profit on a fall in tax expenses; total rev up 0.2%

** Also named Anil Malani as CFO

** Stock on track to rise for sixth straight session, if gains hold

** Stock down ~30% YTD

(Reporting by Kashish Tandon in Bengaluru)

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Oct 11 (Reuters) - Delta Corp Ltd DELT.NS:

• INDIA'S DELTA CORP SEPT-QUARTER CONSOL NET PROFIT 694.4 MILLION RUPEES VERSUS 682.5 MILLION RUPEES

• DELTA CORP SEPT-QUARTER CONSOL NET SALES 2.71 BILLION RUPEES VERSUS 2.7 BILLION RUPEES

• DELTA CORP LTD - APPROVED APPOINTMENT OF ANIL MALANI AS CHIEF FINANCIAL OFFICER

Source text for Eikon: [ID:]

Further company coverage: DELT.NS

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BENGALURU, Sept 25 (Reuters) - Indian shares opened on a weaker note on Monday, dragged by losses in information technology stocks, while casino operator Delta Corp DELT.NS plunged 10% after it received a notice from the tax department.

The Nifty 50 .NSEI was down 0.1% at 19,643 points as of 09:19 a.m. IST, while the S&P BSE Sensex fell 0.1% to 65,943 points.

IT stocks .NIFTYIT fell 0.3%.

Shares of Delta Corp DELT.NS slumped after the company said on Friday it received a notice to pay taxes worth 111.4 billion rupees ($1.34 billion) along with interest and penalty.

(Reporting by Sethuraman NR in Bengaluru; Editing by Sohini Goswami)

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Adds details, background throughout

BENGALURU, Sept 22 (Reuters) - Indian casino operator Delta Corp DELT.NS said on Friday it has received a notice from the government to pay tax of 111.4 billion Indian rupees ($1.34 billion) along with interest and penalty for the period July 2017 to March 2022.

The tax notice comes at a time when the company, valued at over $566 million, is already facing heat over the recent move in July by the country's Goods and Services Tax (GST) Council to impose a 28% indirect tax on the money collected by gaming companies from customers.

The GST amount claimed is based on the gross bet value of all games played at the casinos during the relevant period, Delta said, adding that a show cause notice will be issued to the company if it failed to pay.

"Demand of GST on gross bet value, rather than gross gaming revenue, has been an industry issue and various representations have already been made to the government at an industry level in relation to this issue," the company added.

Delta said that it will pursue all legal remedies to challenge such tax demand and related legal proceedings.

While global investors have urged Indian Prime Minister Narendra Modi to review the 28% gaming tax, citing an adverse impact to prospective investments of about $4 billion, the country's revenue secretary had clearly said there was no need to rethink the tax.

On the other hand, gaming companies have started feeling the impact of the new 28% GST tax and gaming app Mobile Premier League last month said it would lay off 350 employees to "survive" the tax.

Delta Corp shares have lost about 29% since the government proposed the new 28% GST in July.

($1 = 82.9098 Indian rupees)

(Reporting by Sethuraman NR and Nishit Navin in Bengaluru; Editing by Shailesh Kuber)

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