Russian
Casino Licensing Clarified
As reported by the Moscow Times:
"The market players in Russia's booming
gaming industry on Friday welcomed the government's
move to bring more clarity to sector's regulation
by appointing federal tax authorities in charge
of issuing licenses but also warned about the
risks of concentrating too many powers in the
hands of the taxman.
"The
Cabinet decided Thursday to place the authority
to grant licenses to gambling establishments
under the jurisdiction of the Federal Tax Service.
The decision, which is to come into effect after
the government publishes the formal regulation,
will resolve the months-long deadlock over gambling
licensing.
"…All
gambling licensing has been stalled since January
after the State Sports Committee was disbanded
last year, and its successor, the Federal Agency
for Physical Culture, Sports and Tourism, did
not inherit the committee's powers to issue
permits.
"…Other
market players, however, warned that placing
both licensing and tax oversight with the tax
service would give the government body unlimited
power.
"…Even
though just the country's slots machines market
is worth $3.5 billion, according to MDM Bank's
estimates, Russia still does not have a federal
law that regulates the gaming industry…"
|