iGaming Business – The Russian State Duma has approved a bill to establish special gambling zones in Crimea and Sochi in an effort to make the regions more popular for tourists and attract additional investment.

According to Russia’s English-language news channel RT, the exact location of the gambling zones will be determined by the local government.

As reported by iGaming Business in April, Russian president Vladimir Putin submitted a draft bill to parliament to designate the seceded Ukrainian peninsula of Crimea as a legal gambling zone.

Analysts forecast that the new gambling zone could add an additional $720 million (€529.6 million) into the Crimean economy.

“The creation of a gambling zone in Crimea will attract additional investment to the region, create jobs and improve the tax base,” First Deputy Chairman of the Duma Committee Anatoly Karpov said.