{"id":29155,"date":"2022-04-21T08:28:36","date_gmt":"2022-04-21T11:28:36","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=29155"},"modified":"2026-04-23T09:25:46","modified_gmt":"2026-04-23T12:25:46","slug":"primorye-casinos-get-six-month-tax-relief-extension","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/primorye-casinos-get-six-month-tax-relief-extension","title":{"rendered":"Primorye casinos get six-month tax relief extension"},"content":{"rendered":"\n

Authorities in Primorye have passed an amendment to provide a six-month tax relief extension for casino operators.<\/p>\n\n\n\n\n\n\n\n

Russia.- The government of Primorye has passed an amendment to extend tax relief for gambling operators for six months. A zero-tax period was introduced in the second half of 2020 to ease the burden on operators\u00a0during the Covid-19 pandemic<\/a> but has been extended to “deteriorating economic conditions” caused by international sanctions against Russia due to its invasion of Ukraine.<\/p>\n\n\n\n

Primorye estimates that the tax cut will amount to about RUB39.8m (US$481,000).<\/p>\n\n\n\n

In March,\u00a0Summit Ascent Holdings<\/a>\u00a0revealed in its latest financial report that\u00a0Tigre de Cristal Phase II<\/strong>\u00a0in the Primorye Gambling Zone in Russia had been postponed until \u201cno earlier than 2025\u201d due to the negative impact of the Covid-19 pandemic, travel restrictions and economic uncertainties.<\/p>\n\n\n\n

Summit Ascent\u2019s\u00a0Tigre de Cristal<\/strong> opened to the public in 2015 as the first casino resort in Primorye. It was followed almost five years later by\u00a0Shambhala<\/a>, which opened at the height of the Covid-19 pandemic.<\/p>\n\n\n\n

Due to the current uncertainty,\u00a0NagaCorp<\/a>\u00a0has also decided to halt the development of its\u00a0US$150m casino resort in Vladivostok\u00a0<\/strong>indefinitely. NagaCorp\u2019s Vladivostok resort was expected to\u00a0include a multi-purpose facility measuring 21,500 square feet<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Authorities in Primorye have passed an amendment to provide a six-month tax relief extension for casino operators.<\/p>\n","protected":false},"author":176,"featured_media":22300,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Primorye authorities have extended tax relief for casino operators by six months, citing deteriorating economic conditions exacerbated by international sanctions against Russia. This measure, estimated at RUB39.8m, aims to mitigate financial pressures on the region's gaming sector. Concurrently, major projects like Summit Ascent's Tigre de Cristal Phase II and NagaCorp's Vladivostok resort face significant delays or indefinite halts due to ongoing economic and geopolitical uncertainties.","focusai_entities":"Summit Ascent Holdings, Tigre de Cristal, Shambhala, NagaCorp","focusai_location":"Primorye, Russia, Vladivostok","focusai_target_profile":"ceo_executive (0.9), regulator (0.85), compliance_legal (0.7), operator_casino (1.0), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Primorye Tax Relief Impact","query":"What is the projected net impact of the RUB39.8m tax relief on the Q3\/Q4 2022 EBITDA margins for key licensed operators within the Primorye Gambling Zone, considering the broader economic headwinds?"},{"label":"Geopolitical Risk Assessment","query":"How do the indefinite postponements of major capital expenditure projects by NagaCorp and Summit Ascent Holdings alter the long-term investment outlook and competitive landscape for the Primorye gaming market, particularly concerning geopolitical risk premiums?"}],"footnotes":""},"categories":[157,16331],"tags":[23911,23907],"class_list":["post-29155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-elsewhere-news","tag-gambling-regulation","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=29155"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29155\/revisions"}],"predecessor-version":[{"id":29160,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29155\/revisions\/29160"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22300"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=29155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}