The Russian State Duma, the lower house of the Federal Assembly of Russia, has approved a draft law to create a gambling zone in the Altai Republic in its first reading. The initiative was introduced by the Government.
The explanatory note submitted to the Duma states: “At present, five gambling zones have been created in the Russian Federation in the following regions: the Republic of Crimea, Altai Krai, Krasnodar Krai, Primorsky Krai and Kaliningrad Oblast.
“The Altai Republic has similar tourism potential, and the creation of a gambling zone will increase tourist activity in the region and contribute to its further development.”
The State Duma Committee on Economic Policy reported that the initiative could create new jobs and increase tax revenues for the regional budget.
Preliminary estimates suggest the zone could contribute RUB 300m ($3.76m) annually to the budget. Of this, RUB 210m would go to the federal budget, while the region would receive RUB 115m in property tax.
The project is also expected to create around 1,000 new jobs.
Earlier, Andrey Turchak, Head of the Altai Republic, noted that today’s gambling business is a civilised part of the entertainment industry that generates significant revenue for the budget.
In January, Russia began considering the legalisation of online casinos after Finance Minister Anton Siluanov submitted a proposal to President Vladimir Putin outlining how a regulated market could significantly increase national tax revenues.
Siluanov estimated that a regulated online casino sector taxed at a minimum monthly rate of 30% on gross revenue could generate about RUB 100bn per year for the federal budget.
In February, the State Duma approved a bill in its first reading that would prohibit bookmakers and totalizators from accepting bets made with credit cards
