The leadership of the Primorsky Territory did not dare to increase the taxation of gambling in its own gambling zone. Although at the end of 2017, the government gave the go-ahead to the country's gambling zones to double the fixed monthly taxes on slot machines and video slots. Far Eastern officials rejected this opportunity, as they believe that the increase in taxes will provoke a decrease in international investment in the gambling business of the region. It should be noted that tax rates have been increased in other gambling zones. Thus, local authorities want to replenish local budgets.
Now the Tigre de Cristal casino operates in the seaside gambling zone. Two more are under construction. We are talking about the project of the Cambodian operator NagaCorp, as well as Diamond Fortune Holdings.
It is noteworthy that at the end of last year, Hong Kong-based billionaire Lawrence Ho got rid of his stake in Summit Ascent, which owns the Tigre de Cristal casino. Mr. Ho explained the sale of the stake by the uncertainty of the tax situation in the Russian Federation. After some time, the shipping company First Steamship (Taiwan) bought a large stake in Summit Exent. According to the Primorye authorities, the Taiwanese firm, in addition to casinos, also intends to invest in various tourism projects at the regional level. This is a very important step because the lack of proper infrastructure in Primorye scares away almost all investors.
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