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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.

American iGaming

Supremeland Gaming Gains Interim License Approval in West Virginia

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Supremeland Gaming, the emerging brand in American iGaming, announced the approval of an interim Supplier License in West Virginia, further solidifying its position as a key player in the rapidly expanding iGaming industry. This milestone marks the company’s third approval following the successful acquisition of the first approvals in Pennsylvania and New Jersey.

Supremeland Gaming is approved to operate under this interim license and is now authorized to offer its cutting-edge innovation to the Mountain State.

Supremeland’s game portfolio has garnered international appeal since its debut in November 2023. The innovative brand promises cutting-edge slot play, combining immersive storytelling, state-of-the-art graphics, and impressive bonuses.

Rickard Öhrn, CEO of Supremeland Gaming, said: “The acquisition of our interim Supplier License in West Virginia is a pivotal step in our journey, reflecting on our dedication to delivering innovative experiences to a broader audience. As we expand our footprint, our commitment to excellence remains unwavering, and we look forward to contributing to the vibrant gaming landscape in the Mountain State.”

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​​Supremeland is gaining traction for its emerging portfolio of top-notch games, including Red Panda Rising and the international debut title, Munition Mine, underscoring its commitment to pushing the boundaries of innovation in the iGaming industry.

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Albert Bellavista

Pragmatic Play Expands LatAm Reach with Betsala Deal

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Pragmatic Play, a leading content supplier to the iGaming industry, is continuing its momentum in the Latin American market, after signing an agreement to take its three biggest products live with Betsala.

The agreement will see Pragmatic Play’s full portfolio of award-winning Slot content go live, including recently released Slot titles Loki’s Riches and The Big Dawgs in addition to familiar player-favourites such as Sugar Rush and Gates of Olympus.

Betsala customers will soon gain access to Pragmatic Play’s Live Casino products upon integration being completed. The sector has been a focus for the provider over the previous 12 months with releases such as the dynamic Treasure Island game show which complements Pragmatic Play’s comprehensive range of casino classics such as Roulette, Mega Roulette, and Blackjack which are also available on the platform.

Completing the product offering is Pragmatic Play’s cutting-edge 3D renderings of popular sports such as horse and greyhound racing, football, and motorsports.

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The latest LatAm development for Pragmatic Play sees it further boost its profile across the region where it has cemented its status as a leading supplier of casino experiences.

Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Proving LatAm is still a key source of growth, Pragmatic Play is delighted to now count Betsala as another valued partner in the region.

“Pragmatic Play’s three leading products will soon be on the platform, and we look forward to even more players discovering its robust and engaging offering.”

Albert Bellavista, CEO at Betsala, said: “Pragmatic Play has built a stellar reputation across Latin America for its high-quality experiences, and we welcome them as our latest partner to bolster our offering and provide more thrills than ever.

“Most iGaming enthusiasts worldwide are already familiar with Pragmatic Play’s titles and we know the upcoming addition of its content will come with a great response from our players.”

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Conferences

Pragmatic Play Gears Up for SAGSE LATAM 2024

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Pragmatic Play, a leading content supplier to the iGaming industry, is set to make another appearance at a Latin American summit, at SAGSE LATAM in Buenos Aires.

Taking place across two days from March 20th-21st, the event sees iGaming professionals gather at Buenos Aires’ Hilton Hotel for the 32nd edition of the iconic exhibition.

SAGSE LATAM marks the second summit attended by Pragmatic Play in Latin America in 2024, with its new immersive proposal Pragmatic Play Experience, after an extremely successful exhibition tour in 2023, which saw the provider make inroads across the continent and impress industry representatives.

The gaming provider will be at Stand 120 to showcase its diverse portfolio, including Slots, Live Casino, Virtual Sports and Bingo content, alongside its brand-new Sportsbook solution.

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In addition, Pragmatic Play will be a platinum sponsor of the event, highlighting the importance of such industry exhibitions and the vital role the leading provider plays in them.

Victor Arias, VP of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is proud to be a platinum sponsor of SAGSE LATAM and to be influential in shaping the future of the Latin American iGaming market. With a comprehensive multi-product offerings and solutions, it is poised to capitalise on the immense opportunities that the region presents.

“With an exciting range of panel discussions and interactivities that the conference brings, it is set to be yet another momentous date in the LATAM gaming calendar.”

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