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Daman Gaming Platform – Deltatech Gaming’s Rs 550 issue is a new stock issue of up to Rs 300 and the organizer Delta Corp Ltd. It consists of an offer of sale (OFS) of Rs 250 by

Deltatech is a subsidiary of Mumbai-based Delta Corp, which has been in the casino business for over a decade.

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“We are in touch with commercial bankers and meeting with various investors. The roadshows will start and continue till November. We expect to be operational soon after that. We think we can complete the entire IPO process in end of this year,” Mody said in an exclusive conversation with Business Today TV global business editor Udayan Mukherjee.

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Deltatech Gaming’s issue of Rs 550 crore comprises a fresh issue of stock up to Rs 300 crore and an offer for sale (OFS) of Rs 250 crore by organizer Delta Corp Ltd. It is a subsidiary of Delta based in Mumbai. In the casino business for over a decade, Corp. Delta Corp is the only listed company operating in the casino (live, electronic and online) gaming industry in India. The company operates in various segments such as casino games, online games, accommodation and real estate.

Rs 150 raised from the new issue will be used for organic growth through marketing and commercial promotional activities to attract new players and retain existing ones, while Rs 50 will be used to strengthen technology infrastructure to develop, retain and develop new talents. manages the current platform and overall company goals.

Talking about the company’s future plans, Mody said, “We are putting a lot of effort into growing our online multiplayer and real money gaming business.”

Commenting on the regulation of the online game trade in India, Mody said that currently there are many illegal gambling sites operating in the country, some of which originate from other countries, which are unlicensed and unregulated and also do not pay of tax.

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“I think we already pay 28 percent VAT for casinos. But online gaming pays 18 percent and horse racing 28 percent. This is the way that matters, and if the government acts sensibly, all three industry has really grown,” added Mody.

Delta Corp filed a writ petition in the Bombay High Court in hopes of getting a casino license in the Union Territory of Daman & Diu in December 2018. The company, through its subsidiary Daman Hospitality Pvt Ltd, opened its five-star resort Deltin in Daman with plans to launch casino operations. “If we make a decision in our favor, we can start in 30 days and that will be a big advantage for Delta because we think Daman can do at least 20 percent of our current turnover and add many. As a result,” Mody said.

When asked about rates of return in the hospitality business, Mody said, “We just want to build a hotel where we run the casino business. is not profitable with land prices and rising construction costs, especially that in the time of Covid. That makes no sense. But gaming is very important to our business.” He explained: Everything you need to know about IT ministry’s draft rules for regulating online Games. Proposed changes include KYC obligations, grievance redressal mechanisms, review of all real games money

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Soon after becoming an online game industry, the Ministry of Electronics and Informatics took the first step towards regulating the industry.

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The Ministry yesterday published a draft amendment to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules 2021 to be shown to the public. The proposed changes include regulating online gaming platforms as online gaming intermediaries and establishing industry-led self-regulatory bodies to control whether platforms engage in online betting or gambling.

Other changes will allow the ministry – regardless of whether it involves real money – to include any game within its regulatory scope if children can become addicted to them. As Minister of State for IT Rajeev Chandrasekhar said, “Any game that allows or permits betting on the outcome is effectively an online no-go.”

In addition, all brokers, when offering their services on online gaming platforms, must ensure that all their games are reviewed by the relevant self-regulatory bodies of their gaming platforms.

The proposed changes also allow the central government’s self-regulatory body to nominate a person to the board of directors or governing body.

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The draft amendment is open for consultation for two weeks until 17 January. Chandrasekhar said the ministry hopes to report the revised rules by the end of the month after consulting three key stakeholders: online gamers, new gaming companies and large gaming companies and investors. Online gambling agents will have three months to comply after the changes are announced.

Part III of the IT rules dealing with the media code of ethics and age classification for content on streaming platforms. No changes are proposed in this section. Therefore, advertisements of online betting/gambling platforms also come under the purview of the IT ministry. Earlier, the ministry of information and broadcasting issued recommendations instructing social media platforms not to allow proxy ads from such platforms.

Only real money games are included in the proposed changes. This includes any online game in which a user deposits money (cash or in-kind payment for participating in an online game) “in anticipation of profit” (any prize, cash or in-kind distributed or intended to be distributed). to a user based on performance). Casual games like Candy Crush are not included in this definition.

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Any agent that offers at least one online game is considered an “online game agent” and is therefore regulated by the IT ministry.

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In addition to the due diligence obligations imposed on agents such as posting a privacy policy, terms and conditions, and rules and regulations, an online gaming agent is required to ensure that there are no games that allow “gambling or betting” are allowed on the platform. This is in addition to existing rules that prohibit any content related to or promoting gambling or money laundering.

An online game agent must also ensure that children under the age of 18 cannot enter into any contracts online. The online game agent needs to do the following:

2. Inform users – in its terms and regulations, privacy policy, terms of service and user agreements – about all the games it offers, how to withdraw or refund deposits, how winnings are determined and distributed, and other fees and charges the user may be required to pay; the risk of financial loss and addiction associated with online gaming; The KYC procedure to be followed during registration; measures taken to protect a user’s deposit; and how the body works in general.

3. On its website and app, check the random generation certificate and no-bot certificate from a “reputable certification body” for each online game it offers.

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4. Comply with RBI KYC norms to authenticate user during registration.

5. For all users signing up from India or using OGI services in India, OGI shall establish a mechanism for users to “voluntarily” verify their account and receive a public flag for such verification (think blue ticks). . This verification can be done using an active mobile number in India. Such data may not be used for any other purpose and until the user expressly consents to such use.

6. Hire three dedicated employees: a resident complaints officer, a chief compliance officer and a nodal contact person. Their functionality is the same as their social media agent counterparts. Notably, all of the functions of a nodal contact person (liaising 24/7 with law enforcement to comply with their orders or requests) are also the functions of the chief compliance officer and thus potentially not needed.

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8. Establish a grievance redressal mechanism so that the user can track the status of their grievance. Whenever possible, the online gaming agent should state the reasons for specific actions taken or not taken as a result of the complaint.

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9. Provide information to a legally authorized government agency within 24 hours for law enforcement purposes. All other brokers have 72 hours to comply with such orders.

All online gaming agents must register with a self-regulatory agency, which will be registered with the IT ministry. This organization must be a chapter 8 company under the Companies Act 2013 or an association under the Societies Registration Act 1860.

When reviewing the self-regulatory agency’s application, the IT ministry will consider its number of members, its “past performance” in promoting “responsible online gaming”, and the organization’s charters to ensure independence from intermediary influence. , its technological capacity, and the “relevance”, “relevance” and “freedom of conflict of interest” of the board.

Each board will have at least one person appointed by the central government.

India Is One Of The Largest Gaming Countries, But Online Games Still Require Proper Definition And Tax Structure

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