December 27, 2009
Russia's Gambling Gift to Latin America
Jean Friedman-Rudovsky, Time
A little less than a century ago, Western leaders feared that Russia would export its revolution; these days, at least in Latin America, they're more concerned that it may be exporting its gambling problem. Moscow banned casinos in most of its national territory last July, confining the multi-billion dollar industry to Siberia. Since then, gambling operations have been trying to win back lost profits in Europe and Latin America. And not everyone is happy about it.
"Bolivia is a gambling company's paradise," says an exasperated Marco Antonio Cardenas, the director of the National Lottery of Bolivia, which also regulates casinos. In the last year, he says, gambling operations here have nearly doubled — there are now more than 80 casinos and about 10,000 gambling machines in his...
TAGGED: Mexico, Colombia, Peru, Bolivia, Latin America, Russia