for foreign players only. Online gambling will also be permitted but to foreign players.
Protests and campaigns to oust the bill had stalled the process but the President insisted legislation will help tackle the economic hardship the country has been facing for years especially during the post –pandemic era.
MP Dastan Bekeshev from the Committee on Law and Order tried to remove the provisions for online gambling from the bill which was rejected. He then proposed banning online gambling outside of gambling halls - this too was rejected.
Local players simply access sites in Kazakhstan and Russia sending millions of lost revenue abroad. Neighbouring Kazakhstan has seen its revenue increase to T500bn in 2021 and over the last decade the gambling business there has increased by 25 per cent annually.
Although the population in Kyrgyzstan is 2.8 times smaller and with a weaker economy the Kyrgyz love to bet and it is estimated if the volume of services are permitted like its neighbour, it could reach $500m in gambling business.
To date five licences have already been issued to four betting services and one casino – the Grand Casino which opened in a former Golden
Dragon restaurant in Bishkek in May.
Te state has received a reported KGS126m in total from licensing fees – KGS84m from the casino and KGS42m from the bookmakers. Tese included Olimpbet, Ringobet (Trust Game ltd) and 1xBet (Sports Entertainment).
Grand Casino opened 10 months after gambling was legalised and is headed by Adilet Abdimanapov.
Te rules include: l
Gambling permitted include landbased casinos, slot halls, bookmakers and totalisator plus online betting and casinos.
l
Land-based casinos can only be located in restaurants or hotel complexes. Te restaurant must have at least 100 seats and hotel at least 20 rooms.
l
Casinos in the capital Bishkek must have at least 10 gaming tables (and five tables outside the city). Slot halls must have at least 30 machines.
l Players must be aged 21 years and over. l
Slot halls must be in separate rooms or buildings from any other business activity.
l
Casinos and slot halls must have a currency exchange bureau and security measures in place.
l
Use of credit cards and loans to gamble are prohibited, except for landbased slots.
l
Slots machines must have a RTP of least 75 per cent.
l
Te State Service for Regulation and Supervision over Financial Market (Gosfinnadzor) under the Ministry of Economy will regulate gambling and set licensing fees (except for online/virtual casinos). Te State Service for Regulation and Supervision of the Communications Industry (Gossvyaz) under the Ministry of Digital Development will cover the regulation of online casinos.
l
Only resident legal entities can obtain a gambling licence and must have a reserve fund of MIC 10,000 to 80,000. Licences are issued for 10 years.
l
A casino licence is KGS84m ($965,000), a slot hall KGS42m ($483,000) and betting company KGS10.5m ($120,000)
l Taxes are:
- Gaming table – KGS1m approx €10,500 WIRE / PULSE / INSIGHT / REPORTS P141
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