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Super Group ceases Indian operations following tax alterations

October 4, 2023 India Events & Announcements Industry Updates

With effect from October 1, 2023, Super Group will no longer provide any services to the Indian market due to changes to the country’s Goods and Services Tax (GST).

According to the corporation, Super Group is no longer able to make a profit from the Indian market due to the altered tax requirements. However, on an earnings conference call on August 17, 2023, they reaffirmed the full-year financial forecasts that they had previously presented.

India has imposed a sizable 28% GST on gambling, which would have an effect on casinos, horse racing, and internet gaming. The 50th council meeting was where this decision was made, along with a tax cut on food and beverages sold in movie theatres from 18% to 5% and exemptions for some medicinal items.

The tax increase is in line with the Indian government’s intentions to impose stricter regulations on gaming and associated businesses domestically. India’s Ministry of Information and Broadcasting published an advice document urging an immediate end to all gambling product ads on all channels.

In order to undertake polls and case studies on gambling behaviour in India, ENV Media teamed up with the Indian research company Ken Research in July. These papers will examine a range of topics, including player behaviour and the popularity of gaming in India.

The CEO of Super Group, Neal Menashe, emphasised the company’s continuing assessment of regulatory changes in the areas they serve while expressing optimism about chances for long-term development in spite of these difficulties.