egislation submitted to the Duma this week would require bookmakers to increase their charter capital from the current us$ 3 million us$18.5 million and the value of their net assets from the current us$ 3.1 million to us$ 18.9 million.
“The initiative is aimed at protecting the rights of consumers,” said Yevgeny Fyodorov, a co-author of the bill and chairman of the Duma’s Economic Policy and Entrepreneurship Committee.
He said the bill would bar unfair players from the bookmaker business, which is one of the few types of gambling that remains legal after a law came into force on July 1 that restricts casinos and slot machine halls to four far-flung regions.
Bookmakers said the change, if approved, would force them to close. “The bookmakers are shocked,” said Oleg Zhuravsky, head of the National Association of Bookmakers. “If the amendments are embraced, we will have to shut down.”