The Russian State Duma has passed a bill which will see the establishment of gambling zones in Crimea and Sochi . It is hoped that this will lead to increased tourism to the areas as well as investment.
The Russian State Duma has passed a bill approving the establishment of gambling zones in Crimea and Sochi.
Anatoly Karpov , the First Deputy Chairman of the Duma Committee, “ The creation of a gambling zone in Crimea will attract additional investment to the region, create jobs and improve the tax base .”
It is thought that a gambling zone could bring in an extra $720 million to the Crimean economy .
Furthermore, Karpov said that “an increase in tourism as well as the development of hotel businesses and catering can be expected”.
Sergey Aksyonov , the head of the Crimean government, said that the gambling zone will probably be located in Yalta , but an exact spot has not yet been decided.
It is thought that there will be at least $100 million of initial investment, but some think it could reach as high as $1 billion . There have already been numerous proposals submitted to the authorities from potential investors.
Sochi’s gambling zone is likely to be in Gornaya Karusel , part of the Esto-Sadok Krasnaya Polyana resort. At present this is owned by Sberbank and has a very low tourism rate.