Delta Corp shares in focus as Goa township plan put on hold

Shares of Delta Corp were in focus on Wednesday following a media report that the Mumbai-based gaming and hospitality company has decided to temporarily put on hold its proposed integrated resort-cum-casino township in Dhargal, Goa. The project, involving an investment of Rs 2,000–2,500 crore, will remain shelved until the company gains clarity on potential changes in the Centre’s GST framework, Times of India reported.

The move comes amid signals that the government may introduce a 40 per cent GST rate on casinos under the proposed GST 2.0 regime, up from the current 28 per cent on all bets. The two-day GST Council meeting will kick off today.

The stock settled at Rs 84.52 a piece on Tuesday. It has fallen 25 per cent in 2025 so far and 37 per cent in the past one year.

“The 40 per cent GST contemplated will make the entire sector unviable. It will affect thousands of jobs, hurt visitation to the state, reduce revenue collections, and make redundant all the capex incurred by the industry,” said Delta Corp chairman Jaydev Mody told Times of India

Mody, TOI said, further noted that the integrated resort, planned as the first of its kind in India, was expected to generate 10,000 direct jobs. “We have decided to temporarily shelve the project until there is clarity on all the GST issues,” he added.

The proposed resort, spread across 90 acres near the Manohar International Airport at Mopa, was originally targeted for completion by 2027. A public interest litigation (PIL) concerning the project is currently pending before the Bombay High Court at Goa.

The proposed resort, spread across 90 acres near Manohar International Airport at Mopa, was originally scheduled for completion by 2027. A PIL related to the project is pending before the Bombay High Court at Goa.