Category Archives: crimea

Russia to strengthen unlawful gambling penalties Lawrence Ho eyeing Crimea casino?

Oct 7, 2016


russia-crimea-lawrence-ho-casinoRussia has proposed stiffer penalties for everyone who provides gambling options exterior the country’s designated gaming zones.

On Thursday, the Condition Duma Committee on Constitutional Laws recommended amending Russia’s Criminal Code to incorporate new penalties for everyone giving unlicensed gambling actions exterior Russia’s six formal gaming zones.

Below the existing method, unlawful gambling operators confront only administrative fines and forfeiture of residence. Below the new policies, offenders would confront jail terms of up to two decades, as nicely as fines of RUB 500k (US $8k) or the finish garnishing of an offender’s income or other revenue for up to a few decades.

Any person caught leasing a making to an unlawful gambling operator a lot more than 2 times could be locked away for up to 4 decades and hit with fines of up to RUB 1m or the reduction of other revenue for up to five decades.

Meanwhile, the operator of Russia’s most significant current casino is reportedly thinking of planting its flag in the Crimea’s new gaming zone. On Tuesday, Everyday reported that Summit Ascent Holdings, the organization controlled by Lawrence Ho (pictured) that operates the Tigre de Cristal casino in Russia’s much east Primorye gaming zone, was now eyeing up the Crimea.

Everyday added that Macau casino operator SJM Holdings was also sniffing about the Crimea, even though it is unclear whether the rumored fascination was a tandem bid with Summit Ascent or two individual jobs. The two firms share some DNA, as SJM was launched by Lawrence Ho’s father Stanley Ho, who as soon as held a monopoly on Macau’s casino market.

Neither SJM nor Summit Ascent has observed in good shape to remark on the Everyday rumors. In August, Sergey Aksenov, the new head of the Republic of Crimea, hinted that the gaming zone’s 1st project would begin construction in 2017, but the Crimean federal government also won’t ensure the operator’s identification.

Source website link