Minsk casinos are collateral damage of Russia’s economic implosion

Russia’s ongoing economic slowdown has brought both hammer and sickle down on casinos in neighboring Belarus.

Russia’s economy has been laid low by a combination of low oil prices and sanctions imposed by western nations following Russia’s military misadventures in the Ukraine. The ruble lost half its value last year and casinos in Belarus’ capital Minsk can be considered collateral damage of Russia’s economic implosion.

Casinos in Minsk became a popular destination for Russian gamblers after Vladimir Putin banished casino gambling to a number of geographically remote designated gaming zones in 2009. A thriving junket business emerged as Russian high-rollers took advantage of Minsk’s proximity – 90 minutes from Moscow by plane – and the fact that Russians don’t require visas to travel to Belarus.

Fast forward to today and many Minsk casinos are struggling to fill casino table seats. Helen Keane, general manager of the Shangri La casino, told The Guardian that 80% of her casino’s customers are Russians. But right now there’s a lot fewer of them making the trip, while those who do show up have a lot less money in their pockets than before.