Putin approves Crimea and Sochi gambling zones

Russian President Vladimir Putin has signed a law to allow special gambling zones to be set up in Crimea, the territory Russia annexed from Ukraine earlier this year, and Sochi, host city of the 2014 winter Olympic Games.

Earlier this month that the Russian State Duma approved a bill to establish gambling zones in Crimea and Sochi.

Russian MPs have said that the establishment of the gambling zone in Crimea will help to attract investment and boost visitor numbers.

Following the annex of Crimea, there were concerns that its tourist revenue would fall due to ongoing chaos in the region.

Russian media reports that casinos in Sochi will be constructed near to the Olympic Village, which was built for the city’s hosting of the winter Olympic Games earlier this year.

In 2009, Russia banned gambling across the country, except for in the designated regions of Krasnodar, Kaliningrad, Altai and Vladivostok. The only operational resort is Azov City in Krasnodar, with work ongoing elsewhere.

Source: http://www.igamingbusiness.com/