Russian government has given the Azov-City gaming zone a Jan 1st 2019 deadline to shut down its gaming facilities.
Russia.- President Vladimir Putin signed an amended federal law that forces casinos located within Azov-City gaming zone to shut down operations by Jan 1, 2019. Under the same federal law, gambling activities will be shifted to Sochi, with the first Sochi casino scheduled to launch on June.
The three casinos currently operating in Azov-City were supposed to cease business on April 2015, as per a previous measure. So this amendment comes as an extension to continue operations in the gaming zone located in the southwestern Krasnodar Krai region. This extension only applies to casinos that were licensed before June 23, 2014, though.
The Shambala casino launched a second phase on April 29. The facility features 40 gaming tables, 750 slots, five restaurants and a five-star hotel. Maxim Smolentsev, Shambala’s boss said he was not concerned by the 2019 deadline as he is convinced that a lot can change between now and then. Smolentsev added that if the government actually closes down Azov-City gaming zone, he would seek compensation for “all costs and loss of profit,” an amount he estimated could total RUB 10 billion (US $151 million.)