The city of Sochi is set to create a new gambling zone after Dmitry Medvedev, the Russian Prime Minister, gave the go-ahead. TASS, a Russian news agency, is reporting that on the 10th of August, a resolution was signed that would allow the development of the new gambling zone, which will be named Krasnaya Polyana.
The new gambling zone will be placed in an area of land where the 2014 Winter Olympics facilities were due to be created but were not based on lack of funding. The gambling zone will be 165,000 square feet in size, with the new resolution for the area prepared in accordance with the gambling law of Russia.
Created in 2014, the law states that facilities used for the Olympics in the region can be changed to a gambling zone. Private investors must finance any projects for construction. Sberbank German Ref’s CEO has already created an initiative to see a gambling zone in Sochi.
Currently, gambling is not allowed in areas outside of the designated gambling zones. There are four gaming zones in Russia as of now, which includes: Altay’s Siberian Coin, the Kaliningrad region’s Yantarnaya, Rostov’s Azov-city and Primorye, which is located near Vladivostok.
The Primorye gambling zone actually opened recently and is located close to China, Japan and South Korea which investors hope will allow for the zone to be busy with activity. With their gambling zones, Russia does not have currency restrictions or requirements for visas for South Vietnamese. The main problem for visitors from Asia is the weather as Russia has a very cold winter.