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Russia’s Ministry of Finance calls for tenfold gambling tax hike

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Russia’s Ministry of Finance calls for tenfold gambling tax hike

Russian land-based and online gambling operators are reeling after the government confirmed plans to gradually raise gaming taxes by a factor of 10.

 

On Friday, Russia’s Ministry of Finance published a notice on its website indicating draft guidelines for its budget, tax and customs tariff policy for 2018 through 2020. The notice includes plans to double gaming taxes starting January 1, 2018, with further increases to follow gradually until 2020, by which time the gambling tax rates will have increased “by 10 times.”

The Ministry notes that gambling taxes haven’t increased since January 1, 2004, and that the hikes are required “in order to increase the revenues of the budgets of the constituent entities of the Russian Federation.” The taxes are to be applied on a regional basis and paid where gambling companies’ operations are situated.

Russia has been looking for ways to boost its gambling tax take from casinos, bookmakers, lotteries and sweepstakes, which is why Friday’s notice calls for “the introduction of new objects of taxation of the tax on gambling; the processing center for interactive betting shop bets, the processing center of interactive betting rates.”

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The Ministry first publicly mused about the tenfold tax hike a year and a half ago. This was followed by a proposal to boost online sports betting duties by a factor of 100, to impose a 10% revenue tax for the country’s new online betting licensees, and for bookmakers to make mandatory contributions toward the nation’s sporting bodies.

Russia’s land-based operators don’t currently pay tax on their gaming revenue, but pay flat fees for each gaming table or electronic gambling machine. Land-based bookmakers also pay a flat fee for each retail outlet under their control.

RUSSIA’S ESPN SEEKS ONLINE BETTING PARTNER
The specter of Vladimir Putin putting his hand deeper into bookmakers’ pockets isn’t scaring off companies interested in joining Russia’s current dirty dozen officially approved online betting licensees. This week, Russia’s public sports broadcaster Match TV announced it planned to launch its own online betting service, Match Stavka (‘Match Betting’). early next year.

According to a Kommersant report, Match TV has launched a tender for an online betting technology partner to build its website in time for the start of next year’s FIFA World Cup, which is being held in Russia for the first time. The deal effectively makes this a branding exercise, with the technology partner required to supply everything but the site’s name and logo. Interested parties have only until October 12 to express their interest.…

The post Russia’s Ministry of Finance calls for tenfold gambling tax hike appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.

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Source: EEGaming.

Bradley Khoury

eCOGRA Approved to Operate in Arizona, Indiana and Panama

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eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.

This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.

Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.

In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.

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“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.

Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”

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BetConstruct

BetConstruct to Showcase Latest Innovations at G2E Las Vegas 2024

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BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.

As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.

Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.

BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.

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Amusnet

Amusnet Sets the Stage for Global Gaming Excellence at G2E Las Vegas

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Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.

“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.

Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.

Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.

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