Tag Archives: Gaming Tax
Russia – Government recoups investment in Primorsky through gaming tax
Russia’s Primorsky Territory has already recouped the money it invested to help get its gaming zone up and running. Konstantin Shestakov, Deputy Prime Minister of Primorsky Territory highlighted that the level of gaming taxation paid by the two existing casinos, Tigre de Cristal and Shambala, have already paid back the US$25.5m the local government spent…
UK – Gaming tax rise to spark second wave of large-scale M&A
The government’s plans to ‘end austerity’ by further taxing the gaming industry will “spark a second wave of large-scale mergers and acquisitions” according to RB Capital, the specialist gaming industry brokerage. Julian Buhagiar, co-founder RB Capital, called the rate rise announcement ‘inevitable but disruptive’ as the Chancellor looks to both make up for the shortfall…
Mexico – Chihuahua raises gaming tax to promote tourism
The Governor of the Mexican state of Chihuahua Javier Corral Jurado has announced that there will be two new taxes applicable to casinos and bookmakers in the region standing at six per cent and three per cent. Combined the new taxes are expected to raise around $130m ($US6.9m) during 2018. The new initiative was delivered…
Russia – Doubling of gaming tax to slow Tigre de Cristal’s next phase
Russia’s Far East operator Summit Ascent is likely to delay the opening of the second phase of Tigre de Cristal, its casino in the Russian gaming zone of Primorsky due to an increase in taxation. Union Gaming Securities Asia believes the operator’s EBITDA for 2018 could fall six per cent if the new taxation laws…
Paraguay – Paraguay gaming tax up 21 per cent in three years
Paraguay’s Gaming Board (CONAJZAR) has clarified and provided more data regarding gaming revenues in 2016. In a statement the board reported that it had collected a total of G117,098m (US$20,305,151) in 2016 more than 20.95 per cent compared to 2013; 18.81 per cent compared to 2014, and 10.41 per cent compared to 2015. The board…
Spain – BCN World to double gaming tax income
Vice President of Catalonia Oriol Junqueras has told parliament that casino generated revenue will double once the new version of BCN World is up and running. Gaming generated tax revenue will increase from €22.5m to €45m despite the fact that BNC World will now only be allowed to house one to two casinos. The leisure…
Paraguay – Paraguay’s gaming tax reaches record high
The National Gaming Commission of Paraguay (CONAJZAR) has recorded the highest amount of gaming tax revenue ever collected for March. According to the latest figures released by the commission to the treasury, tax revenue amounted to G12bn (US$2.2m) 46.4 per cent more than the same month last year. The amount also beats the previous record…
US – Detroit’s casino generate unbudgeted tax
Having seen their revenue grow for the first time since 2011, Detroit’s three casinos have generated an unexpected $5.2m for the city in gaming tax. The three properties generated taxation of $174.3m, $5.2m more than Detroit had budgeted for its fiscal year that ends June 30, 2016. Gross Gambling Revenues at MGM Grand Detroit, MotorCity…
Philippines – Thunderbird ordered to pay backdated income tax
The Philippines’ Court of Tax Appeals has ordered that Thunderbird Pilipinas Hotels and Resorts will have to back pay income tax to 2006, meaning it owes around US$400,000. Thunderbird had hoped that the 30 per cent income tax exemption offered to state-owned operator Pagcor would also be applied to those companies taking on ‘franchise’ licensees….
