Russia to Allow Investors to Start Casino Businesses in Sochi and Crimea

8 July 2014

Companies who want to start casino businesses in Russia should know that the Russian State Duma has recently passed a bill that would allow the development of gambling halls in Sochi and Crimea. The exact location of the upcoming brick-and-mortar casinos has not yet been revealed, but it will soon be decided by the government. Even so, Sergey Aksyonov, head of the Crimean government, explained that the first gambling zone could be located in Yalta.

Anatoly Karpov, First Deputy Chairman of the Duma Committee, explained that operators who start casino businesses would contribute in terms of jobs and revenue to the Crimean economy. Furthermore, a new gambling zone in Crimea would also attract investors who could open businesses such as hotels and restaurants for visitors and locals. Many potential investors have already expressed their interest in starting businesses in the gambling area.

Russia in also expected to legalize gaming and betting in Sochi, in an effort to utilize the facilities that were constructed especially for the 2014 Winter Olympic Games. Deputy Prime Minister Dmitry Kozak said that the exact location of the land-based casinos will be revealed within the next ten days.

Operators who want to start casino businesses in Sochi should know that Russia has already constructed 14 venues that for the Winter Olympics, which could host up to 145,000 people. Kozak said that the gambling area could be located somewhere around one of the sites that were previously used for hosting the games.

At this point in time, the Russian government only allows gambling in four zones which are far away from Moscow, but up to now, gambling halls were opened only in Kaliningrad and more casino businesses are expected to appear in short time.

8 July 2014

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