Half of casinos in Estonia set to go out of business
15.10.2008, 09:05The amendments to the draft gaming act that
the Parliament is about to adopt today will toll the bell to about half of
casinos in Estonia.
Postimees writes that the draft bill that has been in preparation and debate
for over four years will take effect on January 1.
Also Tõnis Rüütel, head of the Estonian association of gaming operators, says
that he sees the need for fewer casinos. “Even the current economic downturn
helps this process.”
Rüütel said that in the last month, 18 gaming halls have closed doors.
“People are spending less money on entertainment because of the economic
situation and this shows in the companies’ balance sheets,” he said.
Rüütel predicts that of the current 150 gaming halls, half will remain next
year. “Frankly, the current situation where there were several casinos on every
corner was not normal.”
The key requirement in the new law is that a slot machine casino must have at
least 40 working slot machines instead of the current eight.
This means that operators need to invest at least 200,000 kroons to procure
the slot machines and pay 7,000 kroons in tax for every slot
machine.