Crimean gaming zone location already formalized

Following last year’s announcement by Crimean mayor Sergei Aksyonov on the establishment of the Crimean gambling zone, today it became known that Russian Prime Minister Dmitry Medvedev had already signed a decree on its creation, including its size and location. 

According to the decree, the Golden Coast (Rus: Zolotoy Bereg) zone will occupy the area of 14.6 hectares in Yalta.

Earlier, Aksyonov said the zone would finally appear on the southern coast of Crimea by 2022.

“All decisions [regarding the zone] have been formalized, all agreements will be concluded this year. The place [for the zone] has already been determined at a public hearing – it is the village of Katsiveli. During November, all procedures must be completed, the facility has already been prepared. We must complete everything in two years.” said Aksyonov.

In his opinion, Western sanctions imposed on Russia over Ukraine will not put punters off. “I don’t think so,” he said, adding that the zone will primarily aim to attract rich people from outside the peninsula.

“One can fly to Belbek airport (a military airport in Sevastopol, where a civilian terminal is being created) and then drove to the southern coast of Crimea [the route between the two destinations is roughly 70 kilometers]. Investors will be able to create this gambling zone in line with world standards,” Aksenov said.

The law on the creation of the gambling zone in Crimea was signed after its annexation in 2014. According to expert estimates, it can bring to the regional coffers up to RUB 25 billion ($390 million) a year. 

Earlier this year the regional authorities sent a package of documents to the Russian Ministry of Finance in order to create the gambling zone. 

Now there is a procedure for transferring the land owned by the republic to an undisclosed investor.