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Crocus Expo’s Bad News

When one attends Moscow’s Crocus Expo, you are usually looking to check out the new slot machines and see what is available to purchase for your casino. There were tons of slot machines to see, as well as dancers – but the main attraction was a senior Finance Ministry official who decided to put a damper on the party.

At the Crocus Expo for EELEX 2006 – he said that the country and the slot machine operators should be preparing for hard times. He said that the future of the gambling industry is shaky at best. He also pointed out that the gambling venues are about to drop from 855 to 540 next year with all of the new legislation that was just passed.

The country is trying to put strict regulations on the slot machine and gambling business, as it is such a large business for them. Last year it brought in nearly $6 billion in slot machine revenue. The Finance Ministry’s Federal Tax Service has been issuing gambling licenses since last November, but the government will be handling all of the other matters as they pertain to slot machines and gambling.

Many believe that the new laws will stifle an industry that was expected to be making $9 billion by next year. One of the major differences is the number of slot machine halls that are located near metro stations, educational establishments and federal properties – and all of these sites are now illegal. The government wants all slot machines and gambling relegated to outside the city limits.

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