I gamble in Sochi to balance the seasonal economy
Russia’s state news agency Tass reports the new Krasnaya Poliana gambling zone in Sochi will attract tourists and help drive the region’s economy during the mountainous off-season.
The Russian government and state-run banks have been spending billions of dollars in the region and looking for ways to recoup some of their investments for the Sochi Winter Olympics. The Sochi development included a sea cluster where the Olympic Village is located and a mountain cluster where the ski lift and run are located. One solution was to modify existing private facilities at the Gorky Gorod Resort, making it Russia’s fifth-active gambling zone when the Sochi Casino Resort, which may adopt a more attractive name, officially opens .
Azov City was the first gambling area to open after it shut down up to 1,000 casinos, both legal and illegal, and created gambling zones in remote parts of the country. Development, including Shambala and Orakul casinos, will be phased out by the end as Sochi develops. According to Russian game law experts, the two regions are far enough apart, so competition with each other during the transition period is expected to be fine.
The second section of the casino’s opening was “Siberian Coin”, which opened by Altai Palace. However, although the area lacks infrastructure and has been successful, it still operates on generator power and has its own freshwater and sewage systems.
The third area to be opened is Primorsky in Primorsky Krai outside Vladivostok. Although remote and affected by the Siberian winter, large-scale investments are taking place there because of its early operator-friendly tax system and proximity to more than 100 million potential Asian customers in Asia. Tigred Crystal was the first of several major development areas to open there.
Yantarnaya (‘ Amberland’) witnessed the casino opening of Yantarnaya (‘ Amberland’) for the fourth time.
News of the impending opening of Sochi Casino and Resort is reportedly planning a soft opening on New Year’s Eve . Based on the existing mountain cluster at Goriki Gorod Resort, the facility is initially expected to provide casinos, restaurants, bars, banquet halls, conference rooms, theaters and retail stores. Some hotels are just around the corner.
The sixth and possibly last Russian gambling zone to see casinos built was created by President Vladimir Putin following Russia’s “temporary occupation” or illegal annexation of Crimea. The ground will be drilled in the territory of the Gaspa settlement near the city of Yalta, covering an area of 16.8 hectares (+/- 40 acres). The gambling area is expected to open .