• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 31 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Summit Ascent could see Russian tax rate double

Ben Blaschke by Ben Blaschke
Tue 7 Nov 2017 at 20:37
Summit Ascent could see Russian tax rate double

Form Income Tax Return Taxes Tax Office Tax Return

Print Friendly, PDF & Email

Hong Kong-listed Summit Ascent Holdings Ltd could see gaming tax at its Russian integrated resort, Tigre de Cristal, double should the Russian Federation pass a draft bill proposing an increase to allowable tax rates.

In a clarification announcement to investors on Tuesday, Summit Ascent outlined its current tax responsibilities at Tigre de Cristal, located in Vladivastok in the Primorye Integrated Entertainment Zone, which sees it pay the maximum rate allowed by law of RUB9,020,000 (US$154,770) per month – equal to RUB125,000 (US$2,145) per gaming table and RUB7,500 (US$129) per gaming machine.

Tigre de Cristal has 55 gaming tables and 286 gaming machines.

However, the draft bill proposes doubling the maximum monthly tax rate to RUB250,000 (US$4,290) per gaming table and RUB15,000 (US$258) per gaming machine.

“There will be a negative impact of approximately RUB9,020,000 (US$154,770) on the monthly gaming tax payable of Tigre de Cristal, equivalent to an annual negative impact of approximately RUB108.24 million (US$1.857 million) assuming that the same number of gaming tables and gaming machines will be in operation as in September 2017,” the company said.

The draft bill has gone through a first reading by the local legislative assembly, known as the State Duma, and must go through two more before it can be signed into law with the second reading scheduled for this Friday 10 November.

Summit Ascent said that the Primorsky Government also intends to recommend no change to the tax imposed on the company even if the law is passed in order to attract investors to continue investing in the Primorsky Integrated Entertainment Zone, but added “there is no guarantee that the Primorsky Krai Duma would necessarily approve such a proposal.”

Gaming tax in the Russian Federation has long been based on a fixed levy per gaming table or machine rather than on a percentage of gaming revenue, with taxes payable to local governments.

RelatedPosts

Hong Kong Chief Executive claims to have discussed “travel bubble” with Macau

Hong Kong Stock Exchange to cancel the listings of casino investors LET Group and Summit Ascent

Tue 19 Aug 2025 at 04:54
Sub-concessions axed, license terms amended as Macau government reveals draft revisions to gaming law

Macau gaming tax down 3.9% in April to US$944 million

Fri 16 May 2025 at 04:48
Macau GGR down 62% year-on-year to MOP$2.48 billion in June

Macau gaming tax reaches US$2.8 billion in 1Q25 representing 88% of all government revenue

Mon 28 Apr 2025 at 05:43
Suncity Group claims majority 69.66% stake in Summit Ascent Holdings

Summit Ascent expecting to record US$5 million profit for FY24 on improved Russia casino performance

Tue 1 Apr 2025 at 06:23
Load More
Tags: gaming taxPrimoryePrimorye Integrated Entertainment ZoneRussiaSummit AscentSummit Ascent Holdings LtdTigre de CristalVladivastok
Share1Share
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

The Star Sydney’s casino license in limbo as final report from second inquiry handed to regulator

Son of Star’s largest shareholder joins Star Entertainment Group board as non-executive director

by Newsdesk
Sun 31 Aug 2025 at 09:16

Troubled Star Entertainment Group has announced the appointment of Bruce Mathieson Jr – the son of Australian pub baron and Star’s largest shareholder Bruce Mathieson – as a non-executive director of the company, subject to regulatory approvals. Mathieson Jr, currently...

Melco prices US$750 million Senior Notes offering

Melco Resorts parent Melco International back in the black with US$45 million 1H25 profit

by Ben Blaschke
Sun 31 Aug 2025 at 08:45

Melco’s Hong Kong-listed parent Melco International Development Ltd recorded a profit attributable to owners of the company of HK$350.8 million (US$45.0 million) for the six months to 30 June 2025, buoyed by the improved performance of its gaming and non-gaming...

Morgan Stanley: Macau’s peninsula IRs could claim some GGR share from closure of SJM’s satellites

SJM still in discussions over acquisition of Macau satellite casinos Ponte 16 and L’Arc

by Ben Blaschke
Sun 31 Aug 2025 at 08:43

SJM Holdings is still in discussions over a possible acquisition of two Macau satellite casinos as it continues preparations for the cessation of the city’s satellite industry, management has confirmed. The update formed part of the company’s earnings call late...

Macau hotel occupancy rate reached 91% in July, up 1.9 percentage points year-on-year

Macau hotel occupancy rate reached 91% in July, up 1.9 percentage points year-on-year

by Pierce Chan
Sun 31 Aug 2025 at 06:32

Macau’s hotel occupancy rate surpassed the 90% threshold in July, reaching 91% for a year-on-year gain of 1.9 percentage points, according to information from the Statistics and Census Service. Benefiting from the summer holiday peak season, all tourism metrics in...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English