I think imposition of 40% GST (from exisiting 28%) as a big negative for Delpa Corp.
This was over and above all the existing issues (ongoing litigation in supreme court etc) that company was facing.
I think 40% GST may have major implication on Casino’s , particularly Delta Corp, especially when it is applied on sale of chips, not gross gaming revenue. Next 4 quarters will tell the impact in numbers.
Interestingly, Stock did not reacted much to the news, indicating a neglected story, where all the negatives are already baked in the stock price.
Disclosure - Hold tracking position