Think the GST issue is a big overhang. If GST is levied on 28% of the value of chips bought by the consumer, I think that might effectively kill the entire industry. Think we are in a catch-22 situation where depending on the judgement of the GoM tasked with deciding the GST issue, the fair value of the company is either 50-100% higher (if GST is levied on Gross gaming revenue) or probably 80-90% lower (if GST is levied on the value of chips bought). If they charge GST on value of chips bought, the casino operations might end up being worthless.
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