RECORD: Georgia’s Gambling Operators Transferred $287M to Budget in 2022
Lina Almans
21 June 2022
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Georgian Finance Minister Lasha Khutsishvili has announced a record revenue for the state budget from the gambling industry in 2022, according to Sputnik Georgia.
Last year, gambling operators transferred $287 million to the budget, marking a 65% increase from 2021.
Most of the revenue was generated from taxes ($225 million), while the rest ($62 million) comprised fees for licenses and other government charges.
It’s worth noting that the Georgian government raised licensing fees for the gambling industry in 2022. Currently, operators need to pay $1.9 million for a national gambling license. Moreover, since last year, the gambling industry has been subject to a tax on the difference between amount wagered and amount won.
Previously, the Ministry of Finance of Georgia released data showing that approximately 40% of the country’s population is banned from participating in gambling games.
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