RUSSIA

Russia adopts new law for gambling zones investors

If the gambling zone is closed by the decision of the government (or its borders are changed) after the expiration of 10 years from the date of its creation, the losses are not reimbursed to investors.  Russian parliament has adopter the law in the third reading, TASS informs.

In the event of the closure of the gambling zone or the change of its borders on the basis of the law before the expiration of 10 years from the date of its creation, real damage will be refunded to investors. The authority to approve the procedure for determining the amount of compensation and compensation for real damage is vested in the Russian government.

According to the law, if the gambling zone is scheduled for closure, investors will have at least three years  since the adoption of the relevant government to eliminate the gambling zone. The law will come into force after three months from the date of its official publication.

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