Growth in Russian betting shops slows in 2014 amid tightening regulations

The growth in the number of Russian betting shops slowed in 2014 despite an overall increase of 7 percent from a year earlier to 5,509. The growth rate for the year was down 18 percent against the backdrop of tighter regulations by authorities and a slowing Russian economy.

The center for the growth lay in Moscow where 617 shops were opened, followed Krasnodar, Moscow Region, St Petersburg and Stavropol Region.

A majority of new betting shops were opened by JSC "FON", LLC "Santorini", "Bookmaker Pub", "Star Bet" and "PMBK."

Director of JSC "FON" Konstantin Linev told Russian media the decrease in growth rate lay with new requirements for bookmakers.

"In 2014, many new amendments were introduced to the legislation, which toughened the requirements for the opening of a betting shop. Due to this their growth rate has decreased”, said Linev.

He said he was confident the gaming business would adapt to the new rules, with the growth rate gaining momentum once again in 2015. 

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