Gambling Operators’ Tax Payments in Georgia Increased by 45% in Q1 2023

According to Commersant.ge, the gambling industry contributed $13.64 million to Georgia’s state budget in the first quarter of 2023.

The majority of tax revenues come from the taxation of slot machines, which generated $6.45 million. Casino table games brought in $5.29 million, while the remaining $1.9 million came from other gambling activities.

Comparatively, during the same period last year, gambling operators paid $9.4 million in taxes to the state, indicating a growth of more than 45%.

It’s worth noting that this increase in tax payments comes amid the industry’s continued regulatory tightening.

In 2022, the country’s Prime Minister, Irakli Garibashvili, signed a decree prohibiting individuals under the age of 25, socially vulnerable citizens, government officials, and those listed as excluded from gambling, from participating in any gambling activities. Additionally, the government sanctioned a complete ban on gambling advertising in state media and increased the tax burden on gambling companies.

Recall that in 2022, the organizers of gambling activities paid a record $287 million to Georgia’s budget (with taxes totaling $225 million and fees amounting to $62 million), a 65% increase from the previous year.