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Sochi and Crimea Pegged as Future Gambling Zones

Published: July 5, 2014 (Issue # 1818)



  • Analysts suggest Crimea's budget could get a 25 billion ruble ($725 million) boost annually by establishing a gambling zone.
    Photo: Yevgeni Razumny / Vedomosti

The State Duma passed a new law Friday bringing Crimea and, in a surprise move, post-Olympic resort town Sochi into the select group of Russian regions and territories that are allowed to establish gambling zones.

"The creation of a gambling zone in the Republic of Crimea will help attract additional investment in the region, create new jobs and replenish the revenue base of the regional budget," said Anatoly Karpov, first deputy chairman of the Duma's Economic Policy, Innovation Development and Entrepreneurship Committee, ITAR-Tass reported.

The Russian government essentially outlawed gambling in 2009, restricting it to four designated zones throughout Russia, but only one, the Azov-City gambling complex on the border of the Krasnodar and Rostov regions, has taken brought its special privilege to fruition. Similar zones in the Kaliningrad region, Primorye region and the republic of Altai are still under construction five years on.

In a surprise move, legislators inserted a clause into the bill during its second reading that allows for the creation of gambling facilities in Sochi, the venue for the Winter Olympic Games earlier this year. The bill stipulates, however, that gambling venues can only be established in Olympic facilities that were bank-rolled by private investors.

Proposals to turn Sochi into a Russian Las Vegas were floated by Sberbank chief German Gref this past winter at a meeting with Prime Minister Dmitry Medvedev, but Medvedev at the time did not support the initiative, Vedomosti reported, citing individuals present at the meeting.

While the government has placed restrictions on where gambling zones can be established in Sochi, the bill gives Crimean authorities full jurisdiction over defining the location and boundaries of gambling areas.

Analysts suggest Crimea's budget could get a 25 billion ruble ($725 million) boost annually by establishing a gambling zone, Itar-Tass quoted Karpov as saying.

"You can expect an increase in the flow of tourists to the region, the development of the hotel business and food service," Karpov said.





 


ALL ABOUT TOWN

Thursday, July 24


Liliana Modiliani, a well-known Russian stylist, will talk about choosing clothes that fit during her lecture at 7 p.m. at the Pryamoy Efir art club, 13 Viborgskoe Shosse.



Friday, July 25


Discuss Russia’s economic and political prospects for 2014 during a Business Breakfast organized by SPIBA at 9.30 a.m. in the Bank Saint-Petersburg office at 64


Malookhtinsky Prospekt.


Start your weekend with adorable miniature pigs at the Squealing Pig festival at 7 p.m. this evening in the Karl & Friedrich restaurant, 15 Iozhnaya doroga, on Krestovsky Island.



Saturday, July 26


Hundreds of brand-new and retro cars, drag and drift shows, test drives and karting are planned for the Avtobum-2014 festival, which will take place in front of the RIO shopping center at 2 Fuchika Ulitsa.


Participants in today’s SaniDay Summer competition will impress visitors with their hand-made, unusual and hilarious boats, which will race at the Igora Resort near the 54th kilometer on Priozerskoe Shosse.


Metro Family Day will include both serious lectures for adults and master-classes for children, making the event interesting for the whole family. To participate, come to Kirov Park on Yelagin Island.


Photography will be the focus of today’s Photosubbota, which features lectures by famous photographers, meetings with photo schools and studio representatives, and participation in a photography competition. The event starts at noon at Petrokongress, 5 Lodeynopolskaya Ulitsa.


If you like cycling, make sure to visit the Za Velogorod Festival with its retro bike exhibition, market and live music. The second round of the Leningrad Criterium race will also take place during the event at Petrovsky Arsenal in Sestroretsk.



Sunday, July 27


Navy Day will be celebrated with a weapon and military transportation exhibition, self-defense master classes and concerts. The event starts at 1 p.m. in the 300th Anniversary Park of St. Petersburg.



Monday, July 28


Don’t miss a chance to see the latest achievements in robotics during the RoboDom interactive show, exhibiting more than 150 robots. The show will be at BUM center, 22/2 Gzhatskaya Ulitsa, until Aug. 3. The entrance ticket costs 350 rubles ($10).



Tuesday, July 29


A video of a Queen concert from 1986 will be shown today at 8 p.m. in Yaschik, 50/13 Ligovsky Prospekt.



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