|
Russian Casinos Are in
for Hard Times
Sept. 28-06
Casino operators are being advised by
the Finance Ministry in Moscow to prepare for a difficult year in
the gambling industry. The international gaming expo, usually
provides hopeful expectations for the upcoming fiscal year.
However, things are not as bright this year.
Legislation concerning casino gaming,
including slot machines and video poker, will possibly create a
slow down in the amount of financial gain experienced by casino
companies across the globe.
The Chief of the Finance Ministry
Alexei Savatyugin warned gambling moguls to, "Prepare for the
worst and hope for the Best".
Policies toward gambling in Russia
have been less than friendly this year. The restrictions placed on
the casino industry has been very influential in the slowing down
of business in the region.
The state Duma has made serious
attempts to enforce restrictions on the industry, that if
passed would would cause a $6 million loss per year. As a result
of the harsh legislation toward casino business the Finance
Ministry's Tax Service has been forced to give power to the
regional authorities concerning the allocation of gambling
licenses.
Russian government is going through a
similar litigation process as the American government concerning
the online casino industry. It will be hard to tell whether or not
the strict legal restrictions on gambling will adversely effect
the industry in Moscow. However, precaution is necessary in order
for business to protect themselves from impact.
-Current
Online Casino News-
-September
News-
|
