Australian billionaire James Packer who is the biggest shareholder in Crown Resorts has come under the radar of Israeli authorities after showering Israeli Prime Minister Benjamin Netanyahu and his family with a number of gifts and benefits. Channel 10 confirmed earlier this week that an investigation has been launched...
In Pennsylvania, legislators have adjourned for the remainder of the year without approving controversial legislation that would have legalized online gambling and reinstated a local share tax on casino revenues. A measure passed in 2006 mandated that the eastern state’s twelve casinos sacrificed 2% of their annual gross slot revenues...
In a 47-1 preliminary vote on Tuesday night, the Pennsylvania Senate overwhelmingly approved legislation to temporarily reinstate a mandate that requires casinos to pay host communities millions of dollars, after being struck down by the state’s highest court, according to the Associated Press. Through the bill, a different formula would...
Pennsylvania’s casino industry not only generates a significant amount of revenue in the form of gambling taxes for the state government but also makes large charity payments to the local host counties and municipalities. A 2004 casino law states that casinos must pay a minimum of 4 percent of gross gambling...
Mayor Don Guardian and Atlantic City legislators submitted a proposed financial recovery plan that was a 125 pages long outlining what the beleaguered city plans to do in the next 5 years to reduce its $500 million debt and increasing funding for its growing budget. One of the points highlighted...
On Friday, the United States Internal Revenue Service filed a notice of federal tax lien against Hong Kong Entertainment (Overseas) Investment Ltd. The company is the owner of the Tinian Dynasty Hotel & Casino and reportedly, have not paid their taxes for the 2015 to 2016 time frame. The...
This week brought another break for Russian sport betting providers, as the Russian government decided to reduce the size of mandatory taxes that bookmakers have to pay to support the sport bodies in the country. The latest reduction is the second time the government has tried to make the...
A report issued on Tuesday by Cambodia’s Ministry of Economy and Finance (MEF) indicates that over the first nine months of 2016, one-third more tax was contributed by the country’s casino industry. According to the MEF report, as of September 30, the country located in Southeast Asia had 69 licensed...
The Tigre de Cristal was the first casino to open in Russia’s Primorye Integrated Entertainment Zone, a special economic zone created by the government for the casino industry. Hong Kong based Summit Ascent Holdings which is the majority shareholder in the casino recently reported that the casino had generated...
In Russia, the Ministry Of Finance has published proposed amendments for the nation’s gambling laws that could see bookmakers and tote operators required to hand over a significant portion of their quarterly proceeds for the development of sports. According to a report from Asia Gaming Brief citing Russian news outlet...