Russia‘s gambling operators are up in arms after the government proposed a dramatic rise in gaming taxes.

On Friday, Russian media quoted Ministry of Finance sources saying the government was mulling a tenfold rise in the current tax on gambling activity, as well as a new 10% tax on online sports betting revenue. The Ministry reportedly expects to finalize the necessary legislation by the end of the year.

At present, Russian bookmakers pay a monthly fee of RUB 7k (US $89) for each retail point of sale they operate. Russia’s legal casino operators pay RUB 7.5k per month for each of their slot machines and RUB 125k for each gaming table.

Not surprisingly, Russian bookmakers and casino operators have greeted the news with alarm, predicting everything from staff layoffs to the complete collapse of the country’s legal gaming industry.

Russia‘s gambling operators are up in arms after the government proposed a dramatic rise in gaming taxes.

On Friday, Russian media quoted Ministry of Finance sources saying the government was mulling a tenfold rise in the current tax on gambling activity, as well as a new 10% tax on online sports betting revenue. The Ministry reportedly expects to finalize the necessary legislation by the end of the year.

At present, Russian bookmakers pay a monthly fee of RUB 7k (US $89) for each retail point of sale they operate. Russia’s legal casino operators pay RUB 7.5k per month for each of their slot machines and RUB 125k for each gaming table.

Not surprisingly, Russian bookmakers and casino operators have greeted the news with alarm, predicting everything from staff layoffs to the complete collapse of the country’s legal gaming industry.

New Jersey’s regulated online gambling market started 2016 off with a bang, as revenue rose more than one-quarter year-on-year.

According to the New Jersey Division of Gaming Enforcement (DGE), its licensees’ total online gambling revenue amounted to $14.6m in January, up 26.5% from the same month last year, and a new revenue record for the state’s two-year-old regulated market.

In what has become a predictable pattern, online casino gains helped offset continuing declines in the Garden State’s online poker market. Online casino revenue was up 34.6% to just under $12.5m while online poker revenue slipped 6.4% to $2.15m.

Atlantic City’s market-leading Borgata Hotel Casino & Spa continued to assert its online supremacy with revenue of $4.6m, up from $3.8m in January 2015. The Borgata’s revenue split mimicked the wider market, with casino up 36% to $3.4m and poker down 6% to $1.2m.

New Jersey’s regulated online gambling market started 2016 off with a bang, as revenue rose more than one-quarter year-on-year.

According to the New Jersey Division of Gaming Enforcement (DGE), its licensees’ total online gambling revenue amounted to $14.6m in January, up 26.5% from the same month last year, and a new revenue record for the state’s two-year-old regulated market.

In what has become a predictable pattern, online casino gains helped offset continuing declines in the Garden State’s online poker market. Online casino revenue was up 34.6% to just under $12.5m while online poker revenue slipped 6.4% to $2.15m.

Atlantic City’s market-leading Borgata Hotel Casino & Spa continued to assert its online supremacy with revenue of $4.6m, up from $3.8m in January 2015. The Borgata’s revenue split mimicked the wider market, with casino up 36% to $3.4m and poker down 6% to $1.2m.