Russian PM gives go ahead for new gambling zone in Sochi

Russian Prime Minister Dmitry Medvedev has given the go ahead on the creation of a new gambling zone in the city of Sochi.

Russian President Vladimir Putin had first signed a bill allowing the creation of a gambling zone in Sochi in 2014, but since then the opening of the zone has been postponed multiple times.

The gaming zone, named “Krasnaya Polyana” (Rus: Red Meadow), will occupy an area of 165,026 square meters, according to the decree. The document also delimits the gaming zone within the boundaries of the land lots used for the facilities of federal significance for the Sochi Olympics, whose financing and construction did not come from the state budget.

According to Russian business daily RBC, these land lots are based in the Esto-Sadok village and the Sochi National Park.

In October 2015, Russian company “Kurort Plyus” purchased a major share in the Gorki Gorod resort near Esto-Sadok, which was specially built for the Olympics. According to RBC, the company planned to build a casino there.