Crimea To Introduce Casino’s On Yalta’s Golden Coast

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The Russian Prime Minister, Dmitry Medvedev has signed a Government decree on the establishment of the Golden Coast gambling zone in Yalta, in Crimea. The area of the zone, which will be located in the Yalta village of Katsiveli, will be 15 hectares.

According to Alexei Chelpanov, the head of the Yalta Administration, the construction of the zone will start in later this year. The Russian government has yet to make a decision on who will manage the gambling zone, with tenders to be expected to be issued. Improved tourism infrastructure must also be provided. Sergey Aksenov, the head of the Republic of Crimea, has indicated that a large, as yet unnamed Casino operator would be in charge of the project.

According to local officials, the new gambling zone will bring up to 25 billion rubles a year to the regional budget. Crimea officials will soon start accepting bids from qualified gaming operators, as well as authorize the development of hotels and various attractions that will assist in creating a casino-centered tourist destination.

Yalta's Golden Coast Beach Today

Yalta’s Golden Coast Beach Today

Gambling is illegal in Russia except for just four other regional subject areas, being specially arranged zones in the Altai, Krasnodar, Kaliningrad, and Primorsky regions.

Yalta’s Golden Coast is a popular, if under developed tourist resort, with golden sands yet a rocky shoreline. The target casino market may be Chinese, in return for Russia’s heavy promotion of Hainan Island as a tourist resort for Russians. Hainan is serviced by several direct flights from Russia including Moscow, St.Petersburg, Rostov On Don & Krasnodar, and the destination is heavily promoted throughout Russia. Casino’s are prohibited everywhere on the Chinese mainland with the exception of Macao.

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Russia Briefing is written by Dezan Shira & Associates. The firm has 27 years of operations in China and assists Russian and Foreign investors establish operations into the country. Please contact us at russia@dezshira.com or visit us at www.dezshira.com

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