Russian Gambling Shutdown Leads Patrons to Bulgarian Casinos
Bulgaria and Cyprus, among other are planning on increasing their casino revenues with Russian gamblers seeking relief from the upcoming gambling ban.
Eastern European casinos are expecting a jolt in business after the nationwide stoppage in gambling takes place in Russia on July 1st.
Bulgarian casinos on the Black Sea especially anticipate an onslaught of new business as gaming patrons head from Russia to nearby casinos to enjoy their entertainment.
Russian legislation will cause the closing of all casinos in the country in only ten days. The plan is to reopen casinos, but only in four prescribed gaming zones, which will be located less in urban areas like Moscow and more toward tourist resorts.
Meanwhile, protests continue, as gambling operators say the move will cost hundreds of thousands of jobs to be lost. Some Moscow casinos are expected to resist the move, claiming other business purposes but continuing the gambling that drives them.
European gaming expert Lester Garilleaux says the Russian move to ban casinos is in reaction to the uncontrolled expansion of gaming, but that Russian leaders will be even less happy once revenue laves the country heading to foreign casinos.
"If the gambling zones aren't quickly operational, and they aren't even designated yet, then Russian money will be exiting the country to play elsewhere, a trend political leaders won't long stand for,' says Garilleaux.
Bulgarian gaming operators hope to attract many displaced Russian gamblers, but know that other countries will vie for the new customers. Cyprus is also considered a likely gambling destination for Russians, due to the ease of obtaining visa permits.
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