Russia

The potential increase in gaming device tax paid by casinos in Russia has not yet been finalized, contrary to media reports, says brokerage Union Gaming.

The Russian Finance Ministry has initiated a two-fold increase in gambling tax rates, applying to all taxable gambling activities, according to the government website.

Digital Sports Tech, a B2B provider of next generation sports betting solutions, has entered the Russian market for the first time via a deal with the country’s largest sportsbook operator, Fonbet.

Russia’s Tigre de Cristal casino, operated by Hong Kong based Summit Ascent Holdings had reportedly welcomed over 200,000 people in 2016, according to local official Konstantin Shestakov.

The Sochi Casino and Resort, a five-star complex located on the Gorki Gorod mountain resort officially opens its doors today.

The Yantarnaya gambling zone saw the opening of its first casino earlier this week, local media reports.

Named the Sobranie casino, the facility has been operating in “technical mode" and open 24 hours a day, but decoration work is still underway, according to local sources.

While no announcement was made regarding the opening ceremony, it is believed it was held earlier this week.

Russia’s second TSUPIS has become fully operational, according to a payment service provider headquartered in Cyprus.

A group of Chinese companies, Guo Wei have expressed interest in investing in the Primorye gambling zone, according to the Primorye Territory Development Corporation.

Hong Kong-listed Summit Ascent Holdings Ltd is expected to hit “mid-teens” EBITDA growth in 2017 and 2018, and outsized growth in 2020 following Phase 2, said Union Gaming in a note on Monday.

Russia’s eSports market is tipped for strong growth, though the ability of the country’s bookmakers to tap the potential may be held back by cumbersome laws on online gambling and a failure to understand the audience.

Russia’s eSports market is tipped for strong growth, though the ability of the country’s bookmakers to tap the potential may be held back by cumbersome laws on online gambling and a failure to understand the audience.



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