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Romanian investors to invest ?23m to monitor Belarus’ gambling industry

River Invest Company is ready to invest around €23 million in monitoring of the Belarusian gambling industry, Aleksei Busel, director of the BelISA Institute /Belarusian Institute of System Analysis and Information Support for Scientific and Technical Sphere/, told reporters on 14 July, BelTA has learnt.

The company may attract its partners to this project as well. “River Invest may attract one of the Romanian companies which monitors the gambling business in Romania, the Netherlands and Great Britain. It could supply equipment and software to Belarus,” Aleksei Busel said.

According to Aleksei Busel, BelISA has already had talks with River Invest. “We have informed them about the working conditions on our market, told about the project and the customer. The company intends to invest around €22.5-23 million in the project. At present, the sides are discussing the cooperation terms,” the director of BelISA noted.

A gambling business development concept was approved by President of Belarus Alexander Lukashenko in March 2010. The concept envisages uniting all Belarusian casinos and slot machine arcade in a single computerized network with the monitoring centre. A special Point of Sale (POS) system will be introduced which will allow receiving and systematizing all information on financial flows of gambling establishments in Belarus. Thus the state will have control over financial flows of gambling establishments. This will make it possible to refuse from the flat-sum tax on gambling equipment and move on to transparent taxation of real income of gambling operators. A special center will be set up to monitor the POS operations. This center should be run by a big private company that possesses the necessary know-how, experience, financial resources and facilities.

The Minsk-based company River Invest is an authorized representative of the Romanian BAC Investment Banking Company. River Invest helps Belarusian manufacturers import the equipment necessary for modernization of domestic enterprises.

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