Bookmaker Fonbet losing spot on Russia’s ‘economic backbone’ list

Russian sports betting operator Fonbet’s inclusion on a list of the country’s economic ‘backbone’ businesses appears to have slipped a disk.

Earlier this week, Russia’s leading bookmaker Fonbet’s parent company LLC F.O.N. appeared on a government list of ‘systemically important organizations,’ one of 646 companies whose financial health the government deemed important to the smooth running of the national economy.

Russian news agency Interfax is now reporting that the Ministry of Finance has proposed removing Fonbet from this list before the final version is issued on Friday (10). Interfax quoted a source saying Fonbet’s involvement in the betting industry is not the issue, as the Ministry has reportedly asked for several other firms on the earlier list to also be expunged.

Fonbet’s inclusion on the list irked some of its rivals, as the list seemed to single out Fonbet as worthy of preserving, while all Russian bookmakers are currently struggling due to the shutting of the land-based betting shops and the mass cancellation of global sports events.