time: 12:00 - 5:00 pm sunday
NS) lost over a fifth of their value on Wednesday, while online gaming firms also dropped after the country's tax authorities imposed a 28% tax on the money such companies collect from customers.
The move, announced by India's Goods and Services Tax (GST) Council late on Tuesday, would sap the earnings of the $1.
5 billion online gaming sector, said industry experts, although the extra charges are likely to pass on to customers.
They had earlier fallen as much as 14% and 9%, respectively, before pulling back.
Nazara said it expects a minimal revenue impact since the new rule will apply to its skill-based real-money games, which accounted for 5.
Even casino operators will be impacted, since the new 28% tax "will be applicable to the value of chips a person buys before playing," said Vivek Johri, chairman of the Board of Indirect Taxes and Customs.
Delta Corp--which owns casinos in the states of Goa and Sikkim as well as 'Adda52rummy.
Reporting by Varun Vyas in Bengaluru; Editing by Savio D'Souza, Sonia Cheema and Eileen Soreng
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