Industry analysts Sugal and Damani Group claim that the current tax structure implemented in India has resulted in massive losses for India’s lottery operators.
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The Story
The Sugal and Damani Group claims that the current tax structure in India appears to be crippling the lottery industry. Industry analysts claim that as much as 70% of businesses has been lost due to the current tax structure—which include 28% tax on the face value of all lottery tickets through lottery distributors and 12% tax on the face value sold by state governments. This glaring problem has led analysts to ask the government to reduce the Goods and Services Tax (GST), as the continued implementation will result not only in decrease in lottery sales but also in the loss of thousands of jobs.
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Better Collective VP for Business Development and Sales Marc Pedersen talked with CalvinAyre.com’s Becky Liggero about how they are adapting to the developments in the U.S. gambling market.
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Macquarie Group, Royal Dutch Shell, and Sinochem Energy Technology Co Ltd are partners in a new energy blockchain platform that will be used for trades and settlements.
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Bet365 patrons will now be able to access Racing Post South African content across their estate following the recent launch of Racing Post’s international horseracing content.
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Congratulations to Evan Winkler for being appointed as the new head of Melco Resorts and Entertainment! Winkler will be reporting to Melco chairman and CEO Lawrence Ho, retain his position at the board, and will be the managing director of Melco International Development.
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