Market is not overreacting. According to news channels, earlier 28% gst was not on the total face value i.e on the value of chips purchased. This makes delta business unviable as of now, but I am sure Delta will somehow mitigate this, may give players extra credit/incentive after purchasing chips, or some sort of taxation loophole which will surely hurt some profitablity. According to Najara ceo, this move just killed online gaming industry completely. In future, there is possibility that govt may change the rule also.
I have sold my holdings as of now. Will observe.
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