The Most Expensive Casino Hotel in the United States and New Gambling Licenses in Ukraine. News of the Past Week
In Ukraine, the gambling industry continues to gain momentum – more and more companies receive licenses, and the parliament is considering new bills to regulate the sphere. At the same time, the most expensive casino complex is being opened in Las Vegas, and Vietnam proposes to extend the permit for local residents' access to gambling establishments.
Read about the latest events in the gambling industry in our traditional digest.
The profile committee of the Verkhovna Rada voted to reduce the tax rate for the gambling business
The bill on amendments to the Tax Code of Ukraine No. 2713-d was supported at a meeting of the Tax Committee of the Verkhovna Rada. Previously, this document was already considered by the Rada but was sent back for revision.
The draft law provides for a reduction in the tax on income from gambling business from 18% to 10%. At the same time, its authors propose to abolish the triple payment for licenses for betting activities, organizing and conducting gambling in online casinos, as well as for slot machines.
If the bill is approved, the taxation will be canceled for persons who have received winnings in gambling establishments. But this only applies to prizes of no more than eight minimum wages. At the moment, this figure is 48 thousand UAH. From December 1, it will grow to 52 thousand UAH.
CRGL continues to license online poker, casino and slot machine operators
Over the past week, the Commission for Regulation of Gambling and Lotteries (CRGL) held two meetings, at which a number of permits were issued.
Thus, PokerMatch.Ua became a license holder for online poker, and Tech Giant, ST Gaming Ukraine and Stakelogic Ukraine – for the provision of services in the field of gambling.
The following hotels received permission to conduct gambling activities in their premises: Tsentralnyi in Mykolaiv, Kharkiv in Kharkiv, Venskiy in Brovary, Bristol in Odesa.
The license to organize and conduct gambling in casinos was obtained by Casino Premier Palace, and in slot machines halls – by Imperiya Azartu and First Win.
Gambling halls in Zaporizhzhia, Odesa and Rivne will be filled with 32 more slot machines. Appropriate permits for the devices were obtained by Gamedev, Primum and Solo Games.
The most expensive casino hotel opened in Las Vegas
The $4.3 billion Resorts World Las Vegas casino hotel has opened its doors in the world's gambling capital. It became the first venue to open since the debut of The Cosmopolitan of Las Vegas in late 2010.
In a gambling establishment with an area of over 35 thousand square meters, visitors have access to 1400 slot machines, a poker room, VIP rooms, a betting area and table games.
According to the Las Vegas Review-Journal, more than 20,000 people attended the opening night of Resorts World Las Vegas.
The largest complex on the Las Vegas Strip includes hotels of three premium Hilton brands: Las Vegas Hilton, Conrad Las Vegas and Crockfords Las Vegas, offering a total of 3,500 rooms of various categories.
Vietnam is going to extend pilot casino program for local residents
The Vietnamese Ministry of Finance has proposed an extending of a pilot project until 2024 that allows local residents with a monthly income of 10 mn VND to play in certain casinos.
The three-year program was originally planned to be revised next year. However, COVID-19 pandemic has affected the government's plans. 2020 has hit the country's entertainment industry hard, in addition to the inbound tourism trade from abroad.
At the moment, the pilot project covers two casinos. The first one, Corona Resort and Casino opened in 2019. Its debut has launched the program. The second venue focused on local residents has not even began operating yet.
Betting legalized in Louisiana
The sports betting law in Louisiana (USA) came into force on July 1. This became possible after the signing of the last parts of the bill by the state governor. The document consists of three parts regulating retail, mobile bets and the procedure for their taxation.
According to the innovations, a total of 20 gambling licenses will be issued in the state. Each company to get one will be able to open a betting shop and up to two digital platforms with online betting.
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