Interests Of The Investors Of The Gambling Sector Are Protected By Law

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January 11, 2022
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The law regulating compensation to investors of gambling zones was signed by the president of the russian federation vladimir putin and published in «russian newspaper». Representatives of gambling business believe that new legislation will ensure the protection of investors’ interests.

Interests of the Investors of the Gambling Sector are protected by law

New legislation implies the protection of investor rights in the event of the elimination of gambling zones, which have existed for less than 10 years from the date of creation. Dimensions of damage are established and compensated by the government of the russian federation from the budget of the subject of the federation.

Losses are not subject to refund, if the gambling zone existed for more than 10 years. However, the elimination of such zones is possible after three years after the decision to eliminate the liquidation.

«If this compensation mechanism earn, then this is good news for investors, as they will be insured against sudden solutions to the authorities on the liquidation or change in the boundaries of gambling zones. It is not very clear, in what order compensation will be made, but the very presence of such a mechanism – already positive change for this industry», – commented on alim bishov, lawyer, managing partner of the legal company bms law firm.

According to the legislation, the gambling business in the territory of the russian federation is allowed exclusively in special gambling zones. From july 1, 2009, any activity related to gambling, with the exception of bookmakers and lotteries, outside the territory of the gambling zones is prohibited.

Recall that compensation for residents of the gambling zone «azov city», which will be liquidated on december 31, 2018, does not fall under the law.

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