As online gaming companies continue to embrace new innovations, mixed reality technologies are expected by 2021 to be worth $108 billion, according to industry experts. Virtual reality roulette and poker have begun to take off, leaving room for augmented reality slots to boom.
Legislators in Vietnam are set to discuss a proposal to reduce tax incentives for gaming facilities in so-called planned special economic zones. Under the bill, casino resorts, until 2030, would be required to pay 17% of their revenues to the government for the first five years they generate taxable income.
The American Gaming Association could soon break its silence on online gaming following the Supreme Court decision to allow sports betting. In a letter to federal lawmakers, the association stated that it would dedicate itself to eliminating the illegal gaming market, prioritizing intrastate mobile wagering for sports betting.
PokerStars has agreed to discontinue its real money play for residents of Hong Kong after mainland legislation banned apps offering social poker games. Parent company The Stars Group has also signed a deal with International Entertainment Corp. to license its brand for land-based live events and Asian poker rooms.
The Navajo Nation Gaming Enterprise gave $10 million to the Navajo Nation for its Gaming Distribution Fund last week. The funds came from Flowing Water, Fire Rock, Twin Arrows and Northern Edge casinos.
Gaming software developer GAN has raised about $10 million through selling subscription shares to expand in the US. "This strategic capital raising exercise positions GAN to ... capture substantial incremental revenue opportunities available resulting from both internet gaming and sports-betting regulation in New Jersey, Pennsylvania and other US states expected to regulate internet gambling in the near future," CEO Dermot Smurfit said.
In America, 47% of millennials find casinos to be depressing compared with 38% of those ages 65 and older, according to YouGov. Half of respondents between 18 and 34 are in favor of online gaming, and 52% of people 35 to 49 believe it should be legal.
The Malta Gaming Authority will allow operators licensed by other jurisdictions to offer a new unified self-exclusion system. In addition, the third reading of the Gaming Act will further progress on anti-money-laundering policies and pave the way for more sports betting guidelines.
The South African government set a 15% value-added tax in April, up from just 1%. Casino operator Tsogo Sun is bracing itself for a $4.28 million hit following the announcement after reporting a 4% boost in full-year profit.
The owners of Margaritaville Resort Biloxi are hopeful its shuttered casino will soon be revived in Mississippi. The casino comes with a $18 million price tag, a deal which could become more attractive with the proposed extension of a road that would link all the casinos in the area.
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