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...
As a result of the expected revenue from a Suffolk OTB casino being developed in the Marriott Hotel, a $4.4 million budget for 2017 has been proposed by Islandia officials. According to Islandia Mayor Allan Dorman, who spoke at a public hearing on Tuesday evening regarding the upcoming budget, the...
The tax for slot machines and betting shops in the Russian Federation will be doubled by the Russian Finance Ministry, according to an Asia Gaming Brief report. The news agency reports that Deputy Finance Minister Alexei Moiseyev (pictured) made the remarks during a briefing on Friday at the Moscow Financial...
In Michigan, the Saginaw Chippewa Indian Tribe has announced that it has handed out just over $3 million to local schools and governments as part of the semi-annual distribution of net earnings from slots at its two area casinos. The federally-recognized tribe revealed that the distribution represents 2% of slot...
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...
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...
The Supreme Court of the Philippines has upheld its decision that declared Bloomberry Resorts and Hotels, Inc.’s (Bloomberry)(BLOOM.PS) exemption from paying a corporate tax, imposed by the Bureau of Internal Revenue (BIR), as a franchisee of the Philippine Amusement and Gaming Corporation (PAGCOR). The High Court has enjoined the BIR...
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...
Japan has taken another major step toward lifting the country’s ban on casinos and opening what could become one of the world’s most lucrative gaming markets. On Tuesday, the lower house of the Diet (parliament) passed a casino bill that has taken years to advance and has piqued the interest...
Casino gaming in Argentina has been brought to a virtual standstill after three unions joined forces on Monday to call an indefinite strike in protest at the possible introduction of new taxes currently being considered by legislators. According to a report from G3 Newswire, the ongoing strike involves around 250,000...