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Estonian Casinos Close Amid Industry Gloom

Up to 70 Casinos in the Baltic State Expected to Shut Due to Financial Crisis and Legislation


The Estonian Association of Casino Operators (EACO) has reported that 15 casinos have closed since spring this year with Slot Machine legislation set to cause problems for casino operators in Estoniaanother 60 to 70 expected to fold when new government restrictions come into force in January.

The regulations relate to a slot machine levy which will see casino operators pay 10,000 kroons (approximately €640) compared to the current rate of 7,000 kroons per machine.

Baltic Business News reported that the closures to date will cost the government around 100 million kroons in lost taxes in 2008.

Tõnis Rüütel, head of the EACO told the news service that, “Almost all operators have been losing money for the last two quarters and the third quarter should be no different.”
 

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