..

Casinos Shut Down in Russia

Written by:
Jagajeet Chiba
Published on:
Jun/29/2009
Russia Casinos

The Kremlin has ordered all casinos shut down.  The resulting impact:  Some hundreds of thousands of people out of work. 

Russia has offered four locations throughout the country in which the casinos can move to, none of which are equipped to handle the businesses just yet.  All are approximately 4000 miles away from Moscow in luxury locales such as the North Korean border or Siberia.

"This is shaking my life to the core - such a blow for me and my family," Irina Mysachka, 32, a single mother who is a supervisor at the Shangri-La Casino in Moscow, told the New York Times.

"The authorities are taking this step without thinking at all," she said. "They have not considered what this decision means for the workers. With the crisis, it is going to be very difficult for us."

The global economic crisis has hit Russia hard with nary a job to be found. Mysachka told the Times she will need to search for work abroad.  Just last week The World Bank concluded the recession in Russia will run deeper and longer than it appeared even a few months ago. The bank's new projection showed that the Russian economy would contract by 7.9 percent this year and not recover to precrisis levels until at least 2012.  400,000 people are expected to be out of work come July 1 as a result of the casino closures. 

The law that started the whole process was introduced in 2006 by Mr. Putin, then the president and now the prime minister, who spoke of the perils of the blackjack tables and the one-armed bandits, of shady characters having a grip on the industry.

Neither Mr. Putin nor his protégé, President Dmitri A. Medvedev, have yielded to requests for a reprieve.

"The rules will not be revised in any way," Mr. Medvedev said last month, "and there will be no backsliding, although various business organizations have been lobbying for precisely this."

Casinos in Russia are now to be confined to the Altai region of Siberia; the coastal area of the Far East, near the border with North Korea and China; Kaliningrad, a Russian enclave between Poland and Lithuania; and the Azov Sea region in the south. Until casinos open there, Russia will be one of the few countries in Europe without them, though underground ones are likely to be established, the Times reports.

"It's just not going anywhere fast," Joseph Weinert told USA Today more than a year ago.  Weinert is a spokesperson for Spectrum Gaming Group, a U.S. firm that advised on developing one of the resorts. At the time there were talks of postponing the deadline up to three years.  "The clock is ticking, and as far as we can tell there is going to be no gambling in these (planned resorts) come July 1."

And, as it turns out, Weinert predicted correctly. 

Advertisement:  Get 100 percent cash bonus when you join the Golden Lounge Casino today and 25 percent on your second deposit....Over 300 great casino games.

Jagajeet Chiba, Gambling911.com 

 

Gambling News

5 Exciting Card Games from Around the World

Card games are exciting and entertaining. So, it only makes sense for card lovers worldwide to want to explore other options out there. Luckily, there are dozens of card games worldwide, most of which we will discuss in this article. 

Sports Betting Has Been Big Business for States

Sports Betting Has Been Big Business for States

The numbers don't lie.  Since a handful of states legalized sports betting over the past two years, the take has been staggering.

"Tony Meatballs" and Others Indicted for Sports Betting, Heroin Distribution, More

"Tony Meatballs" and Others Indicted for Sports Betting, Heroin Distribution, More

More than a dozen alleged mobsters have been charged as part of a sweeping federal indictment unsealed on Monday including one 72-year-old named Anthony “Tony Meatballs’’ Gifoli.

Atlantic City Casino Earnings Fall 37% Amid Pandemic Limits

Atlantic City Casino Earnings Fall 37% Amid Pandemic Limits

Atlantic City’s casinos saw their collective profits fall by more than 37% in the third quarter of this year as they reopened with capacity limits and costly measures designed to stem the coronavirus pandemic.

The Rise of Virtual Esports Betting in 2020

The Rise of Virtual Esports Betting in 2020

At the beginning of 2020, the sports betting industry found itself in a position they’ve never experienced before. Out of a sudden, all sports events were cancelled, without any predicatble future insight.

Syndicate