Entertainment group, SkyCity, is refusing to spend significant amounts on its Adelaide Casino. In a letter to shareholders, SkyCity chief executive Nigel Morrison said it was hard for the casino to perform on a par with other venues because of a constraining regulatory environment. He said there was little point investing unless work could be done with the South Australian Government to improve the casino’s business model.
Tax revenue generated by Indiana’s casinos dipped nearly USD 3 million in June compared to the same period a year ago, despite the addition of new gambling centers in Anderson and Shelbyville. Indiana casinos generated about USD 78.6 million in tax revenue for the state last month, a drop from USD 81.5 million last June, according to figures released today by the Indiana Gaming Commission.
Twin River casino in Lincoln, Rhode Island says that because it hands over 60 percent of its profits to the state that it’s going under. So it’s asking the state to take less. In return, it promises to pay more! It would start by promising to give the state USD 500 million up front. It wants the state to cut its take from 61.45 percent to 25 percent. “The situation is dire. We are standing on the edge of a precipice,” announced a spokesman for the casino.
The deal struck between three casino companies and the Nevada State Education Association to end the teachers union quest to raise gaming taxes is not sitting well with everyone. While Station Casinos, Caesars Entertainment and Wynn Resorts support the measure to increase room taxes, MGM Mirage and Las Vegas Sands do not. They are asking the Clark County Commission to keep the advisory measure off of the November ballot.
Corporación Mexicana de Entretenimiento (CIE) will pay a total of USD 57,341,093 as a Special Tax on Production and Services (IEPS) in the segment of Games and Draws during this year, revealed Jaime Zebada, Financial Director of the company. „The USD 57,341,093 tax is a percentage on the sales of games and draws and goes directly to the cost of the sales of the company“, explained the executive. In 2007, the authorities gave green light for the company to add 20 more units to its system of games and draws, comprised by 45 gambling venues.
Los Angeles (Reuters) – A Nevada state court has ruled that sponsors of a ballot initiative aimed at raising taxes on casino winnings can begin collecting signatures to secure a spot on the November ballot. The ruling deals a blow to the Nevada Resort Association, which had argued that the measure violated state law.
Panaji: Giving in to political opposition to offshore casinos in Goa, the state government has doubled the entertainment tax levied from the gambling dens to ten per cent. Finance minister Dayanand Narvekar hiked the entertainment tax on casinos including off shore casinos, in the state budget presented on the floor of the House yesterday. The move will double the revenue from entertainment tax levied from casinos.
Games of chance business in Colombia generates USD 1.5 billion a year, equivalent to two tax reforms. According to the Colombian Federation of Games of Chance business (Feceazar), three sectors obtain the best collection: chance, the most sold, followed by casinos, bingos, slot halls and lotteries, with sales of USD 518.5 million. However, lotteries have been losing its space lately, mainly due to the appearance of online games such as Baloto.
A judge rejected last Friday two ballot initiatives to raise taxes on Nevada’s biggest casinos to about 20 percent and generate up to USD 2 billion a year for teachers’ pay, highway construction and other projects. Carson City District Judge Bill Maddox said the initiatives, filed by Las Vegas lawyer Kermitt Waters, don’t comply with a state law requiring an initiative to be limited to one subject.
I think I’ve heard more tales of big wins from Jean Scott and her husband Brad than from anyone I know. Big tournament wins, big video poker hands, even a BIG stuffed gorilla they once won in a promotional drawing. The latest big one came in late November, when Brad hit the button a quarter Hundred Play video poker machine, and up popped, in order, Ace-10-Jack-King-Queen of hearts.
The government of Macao Special Administrative Region (SAR) has no plan to revise its gaming tax nor it is considering the issue, said a senior official on Friday. Secretary for Economy and Finance Francis Tam Pak Yuen made the remark when asked to comment on the topic brought up by Macao gaming magnate Stanly Ho at a Lunar New Year reception hosted by the Liaison Office of the Central People’s Government in the Macao SAR.