Russia is looking to revamp their casino gambling industry from the ground up, beginning with the establishment of new state gambling regulations. The progressive regulations have already been drawn up in a presidential gambling bill, which the Committee on Economic Policy under the State Duma lower house of the Russian Parliament. Now, the Committee on Economic Policy is recommending the Parliamentary House to schedule a second reading of the bills provisions, which contain amendments to the locale of specified casino gambling zones.
Russia has been busy trying to get a grasp on its gambling industry, which had become marked by Georgian mafia infiltration and was fast becoming a breeding ground for cyber criminals using hi-tech knowledge to extort online casinos, sportsbooks and the like. With new casino quotas and regulations requiring casino operators to have $22.4 million in assets, 80% slot machine gains and government issued gambling licenses, the amended legislation introduced this year has been nothing short of prodigious.
The Russian gambling industry currently generates roughly $6 billion in annual revenue, which according to current and prospected trends, should rise pending the passage of bill. With new gambling zones designated in the Kaliningrad region, Altai Republic, Maritime territory, Krasnodar and Rostov, the scope and size of casinos will be accordingly determined.
Those zones which are designated as residential will be given nothing less than 800 square meters while those zones of “special” designation will be located beyond residences. The amendments will likely get their second reading, which at this time, appear to be in good favor with the general public.
Party Gaming Pays GBP69 Million for a Sportsbook
Party Gaming’s long search for a sportsbook is over. This week the gambling group confirmed persistent rumors by announcing that it was adding Gamebookers to its stable. The news follows a ₤69 million deal with owners Trident Gaming out of the Isle of Man.
Party Gaming CEO Mitch Garber revealed during his announcement that Gamebookers provides online sports betting to some 50,000 active customers in 140 countries. He said that the acquisition is part of the Party Gaming strategy to diversify group business from both product and geographic perspective and confirmed that Gamebookers will not be accepting any wagers from US gamblers.
The potential cross-marketing flow from the deal is considerable and Gamebookers will be a good fit for other Party Gaming activities. Party Gaming already owns gaming sites such as PartyPoker and EmpirePoker and in addition offers online casino and backgammon gambling. The company generates about three-quarters of its revenue from customers in the US and has been successfully targeting geographic markets in Europe and Asia in an attempt to reduce dependence on American business and reduce the risk attached to the various political and legal problems in that country.
Gamebookers has an Antiguan gaming license and the bulk of its operations are run from a centre in Bulgaria.
Garber said in a statement: “The acquisition of Gamebookers is an important step forward in Partygaming’s strategic business plan from both the geographic and product perspectives. We know that sports betting will be a valuable addition to our integrated gaming platform and we are confident that we can provide excellent cross-selling opportunities for our expanding customer-base outside the US.”