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Russia

Despite initial claims that "all the works" on a gambling zone in Russia-annexed Crimea would be completed in 2017, there appears to be further foot dragging in the beginning of 2018.

Russia’s parliament has pushed through a law that will exempt casinos from the need to deduct taxes from their clients’ winnings.

Lawrence Ho said he is selling off his entire stake in Summit Ascent Holdings, shortly after the Russian government announced changes that could potentially double taxes for the company’s Tigre de Cristal resort near Vladivostok.

Russia has passed a bill that doubles tax rates for both land-based casinos and bookmakers, with even more hikes in the pipeline, raising concern the ever shifting sands of regulation are changing the outlook for the industry and threatening foreign investment.

 

Russia has passed a bill that doubles tax rates for both land-based casinos and bookmakers, with even more hikes in the pipeline, raising concern the ever shifting sands of regulation are changing the outlook for the industry and threatening foreign investment. Steve Gallaway, managing partner at Global Market Advisors, says the “changes to the tax regime are devastating for the IEZ (Integrated Entertainment Zone) in Primorye,” referring to the most developed of Russia’s gaming zones.



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Online gambling business magazine Login Casino will conduct an online conference dedicated to streaming of gambling games on January, 23.

Tigre de Cristal may suspend its operations in Russia over a new law which would require the operator to collect taxes from its clients, reported PrimaMedia, citing interim vice-governor of Primorye Territory Tatyana Kazantseva.

Online gaming business portal Login Casino is hosting an awards ceremony recognizing the companies that have made the largest contribution to the betting industry in Russia.

Gaming brokerage firm Union Gaming says it is downgrading its view of Summit Ascent Holdings due to the recent news of a two-fold increase in gaming taxes in Russia.

Russian President Vladimir Putin has signed into law two bills regulating betting activities in Russia.

The Russian branch of international bookmaker Bwin has officially launched its website and will soon start accepting bets on Russian territory, according to a statement on its website.

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