GAMBLE IN LAW: WHY “FONBET” BECAME A STRATEGIC ENTERPRISE?

The publication of the updated list of Russian enterprises, officially recognized as strategic ones, caused mixed feelings in the business environment and among ordinary people both. And the reason is not that the list includes subsidiaries of large transnational corporations, which probably have a decent financial safety cushion, which means that the current crisis does not seem to bear the threat of liquidation or bankruptcy.

An emotional shock was caused by the fact that the legal entity, engaged in the activities of the “Fonbet” bookmaker company, entered this list. “F.O.N.”  LLC turned out to be 76th in the list of 646 companies, whose activities are considered strategically important for the economy of a huge country.

The finest hour of “Fonbet” has come, despite the fact that all sports competitions have been temporarily stopped and the office could just seek help as well.

However, the company's marketers are proud to confirm the fact and publish the information on the official website, which is surprising as the company of this type cannot even be officially advertised in the regular media.

There are many ideas, why only "Fonbet" was awarded with such an honor among many bookmakers. Formally, to get into the list of strategically important enterprises, it is required to meet several quantitative and one qualitative criteria. Among the quantitative ones, there are the annual revenue, tax deductions and the total number of employees. The bookmaker's office fit all these criteria. But what qualitative criteria has become the basis of such actions on the part of the government is a big mystery. Perhaps in the future, “Fonbet” is planning to participate in the implementation of large investment projects? But how can a situation with gambling affect social stability and unemployment?

The experts emphasize that getting into the list of "dark horses" is normal, given the existence of a financial lobby.

Most of the citizens of Russia have never heard of some companies of this kind. Others, like “Fonbet”, are clearly perceived by the public in a different context, related more to the organization of gambling rather than the salvation of the Russian economy. Otherwise, how to explain the inclusion in the same list of “LLC OKN” or “GK Regions” real estate agencies? Or how to understand the initiative of the Ministry of Communications to include “May Group” company, which is engaged in organizing corporate parties, banquets and weddings, in the list of important companies?

The inclusion in this list means that the companies, included in it, will be able to request the state support if they report financial problems. The companies will have the opportunity to conclude preferential loan agreements and receive state guarantees in case of debt refinancing or development of the investment projects as well. The semi-annual moratorium on bankruptcy, which we have already written about, also primarily refers to enterprises from this list. One can only imagine how some organizations managed to get into this honorable rating and which of the senior management is directly related to them.

It is worth recalling that the list itself appeared as a result of the 2008 economic crisis. It was associated with the need to support the enterprises, affected by the weakening of the national currency and geopolitical risks. But if until recently, it included only 200 companies, then at the end of March it has been significantly expanded. The government states that the list will be extended, that is why we can confidently expect the appearance of the new lobbies.