Gambling Zone in Crimea Opening By 2020
Given the trends, the gambling industry seems to be one of the most promising sources of the state treasury replenishment. When gambling in Ukraine and most CIS countries is under the strictest ban, the government of Russia turned out to be more foresighted, having organized several “reservations” for conducting a gambling business. A new gambling zone in Crimea that is rightfully considered a dark horse is one of the key locations deserving the closest attention.
There were rumours of the new project development back in 2014 when the bill on the gambling industry legalization came into force. Read about the changes that have occurred in the Russian gambling arena below.
Russian gambling business is represented by six land-based objects. Four of them have been working for several years, one object has been closed, and one more (a casino in Crimea) is at the implementation stage.
There is one gaming location on the territory of the complex. In addition, free ground areas are leased to the operator “Azov-City” since 2018 and to the Japanese concern “Diamond Fortune” from 2019.The “Tigre de Cristal” gambling house has 226 slot machines, 53 card tables, and a separate room for VIP clients. The assortment of this establishment also includes poker (several variations), roulette, baccarat, and Sic Bo
Two objects are working on this territory today:
Despite the relatively small territory, the gambling zone can compete for leadership with many casinos in the CIS and Europe. This location got more than 300 thousand customers during the first year of operation.
Three objects are located on the territory of the complex today:
|Sibirskaya Moneta||Altai Palace gambling house is operating here, offering 160 slot machines and 14 card tables. Moreover, restaurant complexes, a pool, a gym, and billiards are present here too.|
It is worth noting that Internet business is actually banned in the Russian Federation. If we consider this situation in more detail, it turns out that it is forbidden to organize gambling games, while participation in such events is not prosecuted by law. National lotteries and sports betting are officially allowed.
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As mentioned above, talk about building a casino in Crimea has been going on since 2014. The “Greater Yalta” area was considered the first variant for the construction of a new gambling complex. Razdolnensky district, Koktebel, and even Simferopol were mentioned later.
In 2016 local regulators turned their attention to Gaspra (within walking distance from the legendary “Swallow's Nest” castle). However, the final version was adopted only in 2018. The final decision on the complex localization was Katsiveli, which is part of the Yalta district.
15 hectares of land, which has already been transferred from municipal to state ownership, has been allocated for the development of a new object. There are several abandoned buildings, an unfinished sanatorium, and a transformer station on the territory of the future complex today. According to Alexei Chelpanov (mayor of Yalta), the demolition of real estate is scheduled for late October of this year. The construction of a gambling establishment will start in 2020.
According to Alexander Garaguz (deputy mayor of Yalta), gambling in Crimea can lead to a new economic boom. According to experts, gambling profits will amount to more than 25 billion a year. Moreover, the development of infrastructure in the complex construction area will increase the number of new jobs significantly and will serve as an impetus for the development of luxury tourism.
The gaming industry of Crimea has every chance of success from the first days of work.
The estimated volumes of income, as well as the name of the future complex, are already known, let us talk about other details now. According to government officials, the project is in the final stages of signing agreements with developers.
An authorized control body is also appointed (the regional ministry of finance). There is information about possible tax rates. The operator will have to pay about 125 thousand rubles per month for the sweepstakes’ processing centres, and the sport betting establishments legal operating will cost 7 thousand rubles per month.
There is no open information about the developer and investors of the new project. The data is not disclosed due to existing economic sanctions. Nevertheless, it is known that China and Korea are showing interest in this region. In addition, according to some media reports, one of the local companies is ready to invest about 8 billion rubles in the construction of the object.
It is also worth noting that the official commissioning of the finished object is scheduled for 2022.
Despite the long duration of the Crimean gambling project development, the Black Sea coast gambling will turn from a dream into a reality soon. This is the best time for a detailed exploration of new gaming location prospects and profitable investment features.
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