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Super Group has withdrawn from the Indian market with immediate effect.

The Betway and Spin owner pulled its services out of the country after tax changes were enforced in the country on 1 October 2023.

The amendment to the Indian Goods and Services tax requires gaming operators and providers to pay a 28% turnover tax on customer wagers.  

Previously, operators were subject to an 18% tax on the commissions they collect from customers.

“The newly effective tax rules make the Indian market no longer commercially viable for Super Group,” said the New York-listed operator in a statement.

CEO Neal Menashe added: “We are continuously evaluating evolving regulatory landscapes across the many markets we serve.

“Informed by years of operating our geographically diverse business, we remain confident about the long-term growth opportunities in front of us.”

Despite the withdrawal, Super Group has reiterated previous revenue guidance of €1.35bn for full-year 2023.

According to the Financial Times, India’s tax authorities have chased fantasy sports and gaming companies for hundreds of millions of dollars in back taxes.

This has resulted in a regulatory stand-off, with major fantasy operators such as Dream11 and Gameskraft lodging legal challenges against the order.

Gaming companies have won a series of court judgments in India over recent years after their services were deemed to be skill-based rather than games of chance.

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