Russia has announced it has stopped its Crimea casino plans as President Vladimir Putin assured he has other priorities rather than the industry.
Russia.- Even as the gaming market can be a major revenue generator, it seems that Russian authorities just don’t care. According to recent reports, they are not that eager to get that cash flow into state coffers in the short term.
The Crimea casino plans have been around for a while, but seemed to have hit a stop. Russian President Vladimir Putin says the government has other priorities and put the project on hold.
The area would be developed on the southern coast and would mean a more than €43 million investment.
A leading local investment company will push the project, and director Denis Kozorez highlighted the development. He assures the new Crimea gambling zone would create over 250 jobs and has planned tax deductions worth €21 million.
The project’s construction would begin this year and be completed by 2023.
Primorye has emerged in recent years as one of the gambling zones in Europe. Thus, the local government has been pushing for the development of more facilities, and will likely feature at least 11 casinos by 2023. Vice Governor Konstantin Shestakov has revealed that by 2023, Primorye will have at least 11 casinos, and the investment will rise to US$1.2 billion. By the end of 2020, at least three casinos will be functional.