Batumi hikes casino taxes to maximum level

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Yogonet

Sri Lanka seeking to tackle unregulated online gambling amidst calls for casino regulator

In a recent meeting of the Committee on Public Finance (CoPF), concerns were raised about the operation of online casinos in Sri Lanka, despite laws prohibiting such activities. Dr. Harsha de Silva, the Chair of the committee, stressed on the need for immediate action to address this issue, directing a letter to the Minister of Finance for urgent…

Law ・ 13 June 2024

largest.org

6 Biggest Countries by Casino Revenue

Casinos significantly impact the global economy, with the market projected to reach over US$100.90bn in 2024. This figure highlights the important role of gambling establishments worldwide. They create jobs and increase tourism. This attracts visitors from all over. More visitors help local businesses like hotels and restaurants. They also boost…

Finance ・ 29 May 2024

Net News Ledger

Canadian Online Casinos: A Boost to the Economy through Taxes and Job Creation

In recent years, the landscape of gambling in Canada has transformed dramatically, with online casinos becoming a significant part of this change. This shift is not just about entertainment; it's also about the economic impact. When discussing the best Canadian online casino options, one cannot overlook their contribution to the country's economy.…

Law ・ 18 November 2023

iGaming Business

Georgia raises gambling tax rates

In his budget speech, Irakli Gharibashvili said that sector turnover grew from GEL48bn to GEL52bn ($19.2bn/£15.5bn/€17.9bn). This 2022 level was described as a "catastrophic figure" by the Eastern European nation's prime minister. Gharibashvili noted his surprise at this increased participation rate, which came despite the imposition of a ban on…

Law ・ 06 November 2023

Wild Casino

$5,000 Welcome Bonus

Deposit bonuses are optional and must be requested by the player when making a deposit. For example, use Promo Code WILD1 to a 100% Casino bonus. Your bonus request will be assessed and, if your account is eligible for the bonus, it will be added to your account immediately.

Tech Zimo

Economic Impact of Canadian Online Casinos: Contributions to Local Communities

Although the main goal of Canadian online casinos is to provide leisure and entertainment, their impact on the national economy is undeniable. Namely, according to stats, in 2022, the online gambling industry in the Great White North reached $12.5 billion, while by 2027, it should generate $912 billion. With that in mind, the gambling industry…

Industry ・ 23 October 2023

The Press Of Atlantic City

Casino tax fund generated record $504M last year

ATLANTIC CITY - The city's casino industry paid more than $504 million in taxes and fees last fiscal year, a record amount that helps fund programs around the state for its most vulnerable residents. Money for the programs is generated from taxing various parts of the casino gaming industry from total gaming revenue to progressive slots. The Casino…

Finance ・ 28 September 2023

dailycourier.com

Live! Casino brings in revenue for local municipalities

Local municipalities have hit the jackpot when it comes to tax revenues from Westmoreland County's Live! Casino Pittsburgh. The Hempfield Township casino celebrated the nearly $21 million in tax proceeds that have gone to 38 municipalities and organizations in Westmoreland County through Local Share Account (LSA) grants. Live! Casino Pittsburgh and…

Finance ・ 19 July 2023

Latrobe Bulletin News

Live! Casino celebrates $21 million awarded to local municipalities

Local municipalities have hit the jackpot when it comes to tax revenues from Westmoreland County's Live! Casino Pittsburgh. The Hempfield Township casino celebrated the nearly $21 million in tax proceeds that have gone to 38 municipalities and organizations in Westmoreland County through Local Share Account (LSA) grants. Live! Casino Pittsburgh and…

Finance ・ 18 July 2023

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The Detroit News

Online gambling brought in nearly $196 million in Michigan in April

Online casinos and sports betting operators in Michigan reported a combined $195.7 million in revenue in April, down 9.6% from the previous month. For the month, online casinos generated $159.4 million in revenue while online sports betting brought in $36.3 million, according to numbers released Tuesday by the Michigan Gaming Control Board. The…

Finance ・ 20 May 2023

Business Upturn

Benefits of the gaming industry to the Australian economy

The casino market in Australia is currently worth around $11 billion and employs over 60000 people. It is also one of the country's most popular tourist attractions, with around 20 million visitors annually. The casino gaming industry provides employment opportunities and contributes to the economy. Moreover, it also has many other benefits. For…

Industry ・ 03 March 2023

iGaming Business

Georgia shakes up gambling laws despite licence fee concerns

Irakli Garibashvili, the prime minister of Georgia, has signed off on a package of reforms to the country's gambling laws, including new rules that limited online casinos to land-based organisations. The reforms are the largest shake-up to the country's gambling laws since 2021, when Georgia attempted to reform its regulatory regime due to safer…

Law ・ 23 February 2023

Sigma

Batumi increases casino fees to maximum level, angering operators

The city of Batumi in Georgia has doubled fees for gaming tables and slot machines, angering operators. Gambling licence fees in Georgia are administered by the central government, but additional table and slot machine fees are handled at municipal level. Fees for gaming tables are set between a range of GEL20000 (£6100/€6900/$7400) and…

Finance ・ 12 January 2023

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The New York Times

If New York City Gets Las Vegas-Style Casinos, What Else Will It Get?

Before too long, New Yorkers and the millions of tourists who visit the city every year may have a new way to test their luck - and part with their money - amid the bright lights and skyscrapers of Midtown Manhattan: hands of blackjack or spins of the roulette wheel inside a new casino with all the trappings of Las Vegas, down to the incessant…

Gaming Authorities ・ 04 June 2022

Yogonet

Macau officials exploring tax cut, relaxed "satellite casinos" requirements in new gaming law draft

Macau is considering the introduction of a tax cut and revised conditions for "satellite casinos" as the city's gaming industry -the world's largest gambling hub in pre-pandemic years- continues to struggle amid the ongoing impact of Covid-19. The possibility comes as casino revenue plunged to an 18-month low in April. According to Bloomberg, the…

Finance ・ 17 May 2022

The Nation Roar

The Economic Impact of Online Gambling

Casino legalization is divisive because, unlike other forms of entertainment, gambling has historically been viewed as immoral, dumb, and illogical, and gaming imposes social and economic costs on both gamblers and nongamblers. However, moral reasons and religious influences against casino gambling have faded in many communities over time. The…

Sports ・ 04 May 2022

Black Immigrant Daily News

The Casino Industry In Latin America

News Americas, NEW YORK, NY, Tues. April 26, 2022: Latin America and the Caribbean has long been viewed as a massive growth opportunity for the online gambling industry. Analysts have forecast that remote iGaming revenue could reach $3.6 billion in 2023 and increase of around $1.4bn from four years ago. Playing baccarat online and other casino…

Industry ・ 26 April 2022

About Manchester

How the gambling industry is helping Manchester grow

The offline and online casino industry has grown tremendously in recent years. Despite all the side effects, states are gradually legalising the industry. U.S. states, for example, have progressively been allowing sports betting and casino games since 1980. What does this have to do with it? First and foremost, the industry is seen as a tool for…

Industry ・ 26 January 2022

SBNation

China's casino crackdown part of quest to transform Macau

To many investors, Macau's push to extend oversight over the world's largest gambling hub came as a shock, triggering a record selloff in casino shares. To long-term observers, however, it was just the latest move in China's grand plan to transform the $24 billion economy. For years, Beijing has been focused on trying to control an industry that's…

Incidents ・ 25 September 2021

BIV

Casinos, lotteries are government cash machines

The legalization of single-event sports betting in Canada will allow provincial governments to capture some of the revenue that currently flows out of the country via online betting platforms. Compared with what casinos and lotteries generate for provincial governments, however, it's not expected to be a big cash cow, according to the Canadian…

Lottery ・ 04 September 2021

The Detroit News

Michigan online gambling operators report $114.2 million in June revenue

Online gaming and sports betting operators in Michigan reported $114.2 million in revenues for June, according to figures released Monday by the Michigan Gaming Control Board. Of that total, operators reported $89.2 million in gross receipts tied to internet gaming. Online sports betting operators, meanwhile, netted $25 million and reported a total…

Finance ・ 19 July 2021

Yogonet

Slotegrator analyzes Lithuania's igaming market amid licensing reform

small but prosperous country on the eastern shores of the Baltic Sea, Lithuania experienced a boom in online gaming over the past two years. The local gambling market's spectacularly quick shift towards iGaming was further solidified by last year's lockdowns, and local authorities were pushed to revise existing regulations to guarantee a good mix…

Law ・ 14 July 2021

Nola

The story of casino companies in Louisiana: How they cracked open the door then pushed it open even wider

Riverboats cruising up and down the Mississippi, evoking 19th-century paddlewheelers and tales spun by Mark Twain. A small, stand-alone Monte Carlo-style casino in New Orleans, without amenities, to ensure that gamblers frequented local hotels and restaurants. A limited number of video poker machines at bars and restaurants. That's how gambling was…

Politics ・ 27 June 2021

Mumbai Live

The Future of the Indian Gambling Industry Is Looking Bright

India is home to 1.39 billion people, and more than 560 million of them are regular internet users. This makes the country the second-biggest online market worldwide, coming in behind China only. It makes sense India has witnessed a rise in remote gambling in recent years as more and more locals decide to take their betting action online. Despite…

Industry ・ 03 June 2021