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Rampant Job Losses

The government in Russia passed legislation last year that specifically created a huge upheaval in the countries land casino gambling operations. Online casinos are still largely banned, but the land gambling industry in the nation was huge. All of that changed though when the government approved a ban on land gambling throughout the cities and instead approved measures that forced all of the gambling venues into four remote geographic areas that are outside of the main cities. There are rampant job losses throughout Russia right now because of the decision to shut down all of these gambling venues.

Russia has been hit equally hard by the economic recession as many other countries, but the government looks at removing the extensive land casino gambling options as a way to combat problem gambling. One of the main areas that will be affected by this ban is Saint Petersburg. The land casinos in this city employed more than 10,000 individuals. With the ban now, these employees will lose their jobs. That is a tough blow to the economy as unemployment rates are likely to jump significantly as the land casinos shut down and move their operations. According to a recent article, 109 land gambling venues are closing right now and all of those residents of the city that are employed by the industry are facing job loss.

Another big issue, beyond the job loss, is the fact that the casinos are going to leave big vacancies in terms of real estate. As these spots remain empty the government will lose out on the taxes.