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Russia Follows Casino Ban by Exporting Gambling
MOSCOW, RUSSIA --
Russian gaming operators, frustrated after a national casino ban went into effect last summer, have gone international in continuing their casino expansions. A report by "Time" magazine details gambling proliferation in Latin America and Europe as a direct result of the Russian gambling ban.
Bolivian officials tell "Time" that foreign gaming operators are responsible for the doubling in available gambling in Bolivia in the last year. The country, with a population half that of New York City, hosts over 80 casinos.
Ritzio International, a gaming company that ran dozens of Russian casinos, is among the major importers of gambling to small countries like Bolivia. The casino operator does $1.2 billion annually at 1000 locations around the world.
Mexico, Columbia, Chile, and Peru all boast new or upgraded casinos owned by Russian interests. Observers such as Samuel Binder, deputy executive director for the Russian Association for Gaming Business Development, say the improbable location and lack of infrastructure for Russia's proposed legal gambling zones means investors will seek easier paths.
"Even those who have investments for gaming have realized they'd rather take their money elsewhere in the ex-Soviet Union or to Latin America," said Binder.
The rapid Russian expansion is raising questions of organized crime and money laundering, tough topics for tiny, poorly regulated countries to handle. New, tough rules regarding international investment in casinos may be forthcoming in many countries affected by the Russian blitz.
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Recent Comments
| Posted by Stefan k on 12/30/2009 06:02:10 AM EST |
| It was bound to happen - if they were making money bfore, they will not want to stop. The issue in S. America is a lack of regulatory body, which could 'reign in' any operators who caused trouble. Unrotunately this is needed, as in any industry. It would be a shame to see the responsible operators struggle by whilst these guys clean up, and those of us living in restrcitive countries should be supporting campaigns such as www.right2bet.net |
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