Online Casino Style: News
This past summer saw the effective prohibition of all gambling – internet casino and their land-based cousins – in Russia, which makes everyone exactly where the booming business went to. While much of the business has understandably turned to the internet gambling industry for their betting needs, it doesn’t explain where the former entities that ruled the Russian market went to. Many, surprisingly, have gone as far as Latin America, in search of more friendly homes in which to set up business.
According to a recent article in the magazine Time, although some of the casino owners from Russia are more than willing to wait out the ban, hoping that the prohibition will be overturned, some have already given up hope.
There is also the option of relocating to the four governmentally-controlled, very remote gambling regions in the nation, but many are more willing to move completely out of the country than uproot and further subject themselves to government control.
Many areas in the world are far more friendly to the gambling industry than even the remote gambling regions of Russia, such as Bolivia. Time reports that the National Lottery of Bolivia’s director Marco Antonio Cardenas said that the number of gambling operations has nearly doubled in the last year, with many of the new businesses coming straight from Russia. While Bolivia has a population of only 9 million people, they host more than 80 different casinos and an astonishing 10,000 gambling machines.
The appeal of Bolivia is their regulations; once an operator secures a license; there are no limits as to how many casinos the operator can open. One of the beneficiaries of the Bolivian regulations is the Russian firm of Ritzio International, based out of Moscow. Bingo rooms have been their specialty, and they do quite well with it, as they made $1.2 billion in business every year, bringing in profits from as many as 1,000 different locations all over the worldwide. They are truly international, with assets in Peru, Colombia, and Mexico, but many are following their example in the exodus from Russia.
to be continued in Russian Exodus - 2
|Copyright © 2008 Online Casino Style Quick links for news ♦ Jan 2008 ♦ Oct 2008 ♦ Nov 2008 ♦ Dec 2008 ♦ Jan 2009 ♦ Jan 2010 ♦|