Summit Ascent has appointed former Genting Hong Kong President David Chua as its new Chief Executive Officer for a three-year term, effective from May 1.
Bookmaker Bet365 has started operations in Russia, with its office managed by Golden Bet LLC. The company is part of the self-regulatory organization the "Association of Bookmakers."
Summit Ascent Holdings, operator of Tigre De Cristal in Vladivostok said it swung the second half of 2020 to a positive adjusted EBITDA and net profit, thanks mainly to strong local demand.
The lower house of the Russian parliament is mulling legal revisions which would require lottery operators to provide a much larger cut of the profits to the state tax authorities.
Officials in the Primorye gambling zone have been on a public relations blitz in recent months, highlighting how projects are now pushing ahead and stressing there is no change in the long-term plans for 12 casino complexes.
Russia-based League of Stakes, a bookmaker, has announced that it is ready to accept sports bets from foreigners.
The Tigre de Cristal hotel and entertainment complex, as part of the delegation of the Primorsky Territory, represented the region at the 27th MITT International Tourism Exhibition in Moscow.
The Russian government is beginning to oblige owners of online social networks and other platforms to monitor their services and exclude illegal online gambling advertisements. Sites that do not comply may be blocked.
NagaCorp is reportedly seeking additional assistance from Russian construction companies to build its casino resort in the Primorye gaming zone.
Local Russian officials have announced that the state has already recovered its full investment in funds into the development of the Primorye gaming zone.
An organization of Russian bookmakers has filed a lawsuit against the country’s Ministry of Finance over its opaque regulations governing their tax liabilities.
At a meeting of the legislature of Ukraine held on March 4, none of the three submitted bills on the formation of the Commission for the Regulation of Gambling and Lotteries was approved.
The Kharkiv Palace Hotel, a five-star hotel in the northeast Ukranian city of Kharkiv has been denied a gambling license by local authorities for not meeting necessary standards.
The Primorye gambling zone saw a 24 percent drop in resort attendance in 2020 due to the pandemic, but authorities are optimistic about the future and have no intention of changing the long-term plans for the hub.
Russian authorities have revealed to the local media that the state’s take in gambling taxes for the year 2020 reached RUB1.59 billion (US$22.3 million).
Officials of the Primorye gaming zone are promoting the development to the Russian media, noting the opening of two casinos in the zone and reaffirming plans to eventually host a total of twelve casino resorts.
Fonbet, Vinline, and Betcity were identified as the top three bookmakers in Russia as of January, as judged by the number of visitors to their websites.
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