Russian Casinos Shutting Down

Closing the doors of Moscow’s casinos. As a new nationwide law came into effect on Wednesday, confining gambling to four regions far from the capital. The law was passed by Vladimir Putin’s government in 2006. And not everyone’s happy with it. Many in the industry say the newly designated regions simply aren’t equipped to accommodate the casinos. They say the government failed to keep its promise to prepare them in time. A director of one entertainment complex, Yuri Boyev said the zones simply weren’t ready. [Yuri Boyev, "Metelitsa" Entertainment Complex Director]: “We are not planning to move to gambling zones, because we obeyed the law, but our government, unfortunately, did not obey the law and the zones are not ready. Because the second part of the law stated that the gambling zones should have been created. There are no roads, no electricity, no water, nothing in the zones.” Moscow alone has more than 500 gambling venues. The law also bans gambling on the internet and at airports and supermarkets. Sparking fears casinos will now operate underground. In the Soviet era almost all gambling was illegal but still went on in homes or cellars. Until the zones begin to function as intended, Russia will find itself in a sticky situation where no legal gambling businesses will exist. The move will leave over 400000 people out of a job. Tax revenues generated by a multi-billion dollar turnover will also be hit. Troubling news for a country struggling to ride out the economic …

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