Taxes

While there has been a lot of debate and opposition to the proposed MGM Springfield and Wynn Boston Harbor casinos in Massachusetts, Steve Crosby the Gaming Commission Chairman remains confident that the casinos will be of great benefit to the state as the gambling industry is expected to generate...
Atlantic City has already witnessed the closure of four casinos since 2014 and will lose its fifth casino on October 10 when the Trump Taj Mahal casino shutsdown for good. Billionaire Carl Icahn decided to close the iconic casino as it was leaking millions every month and also due...
After having its gaming license renewed two weeks ago by the Pennsylvania Gaming Control Board, Mount Airy Casino Resort is now reportedly asking the Pennsylvania Supreme Court to annul a regulation that requires casinos in the eastern state to hand over $10 million a year to their host city...
Rent paid by the Golden Nugget casino intended to go to the city of Biloxi, but that inadvertently went into the state general fund, has made its way to the Mississippi city. The $2.6 million, which is most of the city’s share of the rent once divided between the property owners,...
The Tigre de Cristal was the first casino to open in Russia’s Primorye Integrated Entertainment Zone, a special economic zone created by the government for the casino industry. Hong Kong based Summit Ascent Holdings which is the majority shareholder in the casino recently reported that the casino had generated...
In Ohio, a local lawmaker has announced that he intends to unveil a proposal during the autumn legislative session that would change the way tax revenues from the state’s four casinos are shared out. Under the Casino Control Law passed in 2011, Ohio levies a 33% tax on its casinos’...
Pennsylvania’s casino industry not only generates a significant amount of revenue in the form of gambling taxes for the state government but also makes large charity payments to the local host counties and municipalities. A 2004 casino law states that casinos must pay a minimum of 4 percent of gross gambling...
The tax for slot machines and betting shops in the Russian Federation will be doubled by the Russian Finance Ministry, according to an Asia Gaming Brief report. The news agency reports that Deputy Finance Minister Alexei Moiseyev (pictured) made the remarks during a briefing on Friday at the Moscow Financial...
The House Committee on Commerce and Tourism was told by the Commonwealth Casino Commission on Tuesday that it’s not the appropriate time to impose a tax of 10 percent on the local casino industry in Saipan. An exclusive casino license is held by Hong Kong-listed Imperial Pacific International Holdings Ltd...
Discussions regarding a grant program began in January, and on Tuesday the Cuyahoga County Council in Ohio voted to create the Community Development Supplemental Grant program, with an agreed upon $1 million annual contribution from casino tax revenue for community development projects. Through the grant program, which is intended to...
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