Sochi set to create new gambling zone

Dmitry Medvedev, the Russian Prime Minister, approved the development of a new gambling zone in Sochi.

Russia.- Dmitry Medvedev, the Russian Prime Minister, signed a resolution that would allow the development of the new gambling zone in the city of Sochi, which will be named Krasnaya Polyana.

Krasnaya Polyana will be placed in the site where the 2014 Winter Olympics facilities were due to be created because of 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 Russian gambling laws.

As per the law facilities used for the Olympics in the region can be changed into a gambling zone. Private investors must finance the construction of any projected developments. Sberbank German, Ref’s CEO has already created an initiative to see a gambling zone in Sochi.

Currently, gambling in Russia is not allowed in areas outside of the designated gambling zones. There are four gaming zones in the country, which includes: Altay’s Siberian Coin, the Kaliningrad region’s Yantarnaya, Rostov’s Azov-city and Primorye, located near Vladivostok.