Daily Asia Gaming eBrief: GST decision hanging over Indian gaming like "an axe"

Tuesday 27th of August 2024

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Good morning. Taxation and now, possibly, representation. India's Supreme Court is set to rule on the Goods and Services Tax (GST), which has caused a major blow to the nation's gaming industry - both land-based and online, and put the future of many companies in question due to massive backlogged taxes. Meanwhile, in Thailand, a recent official study now under evaluation by authorities predicts that some 90 percent of casino patrons would be locals. This could mean as many as 37 million Thai residents potentially frequenting a future integrated resort's casino.

What you need to know

Indian gaming industry waiting anxiously for the Supreme Court decision on the Goods and Services Tax (GST): finance consultant.
Thailand's Finance Ministry study predicts 90% of casino patrons would be locals, with up to 37 million Thai residents potentially visiting.

On the radar

Ciarán Carruthers to step down as Crown Resorts CEO: reports.
Vietnam extends the casino trial period for local patrons until year-end.
Macau’s top judge resigns from post, likely preparing for Chief Executive bid.
Delta Corp reports sharp drop in revenue and profits for 2Q24.
Century Entertainment Chair keeps company afloat, focused on Cambodia.
LET Group expecting loss in 1H24, despite improvements in Summit Ascent.
Macau's gambling disorder cases see a significant increase in 1H24.

AGB Intelligence

INDIA

Stifled gaming industry awaiting GST decision

Gaming companies in India, including traditional land-based operations, are eagerly awaiting a Supreme Court Decision on the Goods and Services Tax (GST), which many deem to be stifling the sector. The extreme amount of the backlogged taxes has threatened not only the growth of companies, but their very survival, notes a financial consultant. However, the situation is unlikely to worsen and could potentially improve, depending on the ruling.

Corporate Spotlight

1xBet: The most popular gambling games and slots in Asia

For global betting company 1xBet, Asia is a key market for several reasons. This is why 1xBet pays special attention to the Asian market and actively promotes its sports betting platform and the most popular gambling games on the continent.