Russian Casino Company Storm Expanding To Costa Rica and Armenia

Storm International does not necessarily want to leave Russia. The country, however, has put certain restrictions on gambling, which may force their biggest casino company to relocate.

A new law has been passed and will go in affect in July of 2009 that will change the landscape of gambling in Russia. The law will allow gambling on Russia's Pacific coast. The goal is to move gambling out of Moscow.

The concern for casino operators such as Storm, is that the area they are allowing gambling is too far for anyone from Moscow to travel. So, in effect, it will hurt their business substantially.

"If the law doesn't change, we'll leave Russia. Most staff, certainly the management, will come with us," said Michael Boettcher, Chief Executive Officer of Storm.

Costa Rica and Armenia are places where the company is already opening casinos this year. If things do not change in Russia, there is a good chance that Storm will look for further locations outside of the country to continue their operation.

Storm has been coming on strong in the world market for casino gambling. The company has a goal of being a major player in the market by the year 2030. They are targeting twelve percent of the $172 billion market by that time.

February 22, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
Submit News!