Georgia Ups Gaming Tax to Halt Participation

The Prime Minister of Georgia is taking matters into his own hands this week as he announced an increase on gambling taxes in the country in order to combat what he is calling "catastrophic" gambling participation rates.

Taxes paid by gambling operators will rise from 10% to 15% on profits, while players will be paying 5% on withdrawn funds, up from 2%. The move is the latest attempt to curb gambling participation, following raising the minimum age to gamble to 25 and banning gambling ads. This was ineffective though, as turnover rose to 52 billion GEL from 48 billion GEL the year before.

In addition to trying to halt the amount gambled, the increase in taxes will generate an additional 400 million GEL.

Regarding the rise in turnover and the changes, Prime Minister Irakli Gharbashvili said, "I want to express surprise, on the one hand, on the other hand, it is very sad that the turnover of the gaming business is increasing. I am really not happy, too many citizens are still involved in the gaming business.

"You know that we made important changes last year when we banned advertising and also restricted our citizens from participating in the gaming business to the age of 25. Automatically 1.5 million citizens have been restricted from participating in the gambling business. Despite this, we see that quite a few citizens are involved in it. Accordingly, we have made a decision to increase additional taxes on this business, and as we told you, GEL 400m will be collected in addition."

It'll certainly be curious to see what the increased taxes do to the gambling participation rate, although with the small rise its likely that things will stay the same. Casino Listings News is following Georgia's gambling industry and will keep readers updated as developments arise.

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.

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