Investor Presentaiton

India gaming regulatory overview DELTA Overview Casino formats • • • Under the Indian constitution, state legislatures have been entrusted with the power to frame specific laws Vast differences in the regulations of gaming in India with high entry barriers, strict regulations and a cap on the number of licenses Casinos are currently allowed in Goa, Sikkim and Daman (for Daman - license yet to be issued by government) Certain states have recognized "games of skill" and such games are not regulated by gaming laws Casino can be land based/on shore, riverboat/offshore or online - Land-based casinos are permitted in Goa, Daman and Sikkim - Offshore casinos are permitted only in Goa - Online casinos are permitted in Sikkim and Nagaland Goa gaming regulations • Daman and Sikkim gaming regulations Foreign direct investment Source: ICRA Research • Land based casinos are housed within hotels and offer electronic games and slot games Off shore casinos offer live games (e.g. games manned by dealers) in addition to electronic games The Goa, Daman and Diu Public Gambling Act, 1976 allows on-shore casinos to be set up only at 5-star hotels or off-shore vessels with prior permission from the government The State Government of Goa has the authority under law to issue licenses and rules to regulate casinos Casino licenses are typically awarded for a term of 5 years with fees payable annually and there are currently six offshore casinos and 10 on shore casinos Gaming tax has been now subsumed under GST and the applicable rate is 28% Daman: Currently no casinos in operation with one casino waiting for final approval Sikkim: Currently there are three land based casinos operating in Sikkim The Consolidated FDI Policy Circular 2016 prohibits FDI in gambling and betting including casinos. Furthermore, technology collaboration in any form including licensing, trademark, brand name, management contract is also prohibited for lottery, gambling and betting activities 13

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