A committee has approved a bill that will be presented to legislators before the end of the year.
Russia.- Legislators will vote on a bill that aims to establish a single gambling regulator for the whole of the Russian Federation.
The initiative aims to improve the effectiveness of gambling control and supervision, increase funds transferred from the sector to the Ministry of Culture and Sports, and detect illegal online gambling activities.
Bill N°1055657-7, which was proposed by United Russia legislators Viktor Deryabkin and Igor Stankevich, has been approved by the Committee on Economic Policy, Industry, Innovative Development and Entrepreneurship and passed to the Legal Department at the Office of the State Duma.
The department is expected to deliver its analysis by December 1 and the bill will be read on the Duma floor before the end of the year.
If the bill is approved, the new single regulator will be under the wing of the Ministry of Finance, managed by a supervisory board and led by a general director appointed for five years by the government.
Currently, the State Tax Service is the general regulator for gambling in Russia.
One of the main gaming hubs in the country is the Primorye Economic Zone. Until recently, the only casino operating in the area was Summit Ascent’s Tigre de Cristal. The Suncity Group subsidiary is currently developing a Phase II expansion of the property.
In October, Tigre de Cristal began to face competition following the opening of Shambala casino, operated by Primorsky Krai Development Corporation.
The RUB$3.5 billion (US$45 million) venue features 5,200 square meters of gaming space, a restaurant, two fast-food restaurants and a theatre. A second phase of development is slated to begin in 2022. The total cost is estimated at RUB8 billion (US$104 million).