The construction of Azov City, a city in the style of Las Vegas to be developed in the South of Russia, will be iniciated in 2009, according to the Administration of Krasnodar region.
“The main investment agreements will be signed in the following months, and the construction will begin the following year“, says the press release issued by regional authorities.
Russian legislation forces casinos and other gambling venues to move to four special zones in July 1st, 2009. On top of Azov City, in the South of Russia, similar projects will
be implemented in Kaliningrado, in the Western region, as well as in the regions of Altái and Primorie, in the East.
Krasnodar authorities aim to attract private investments for USD 14,171,279.756. Governor Alexander Tkachov is convinced that the project will change the appearance of the North of Kubán, a traditionally backward region in the economic aspects. Among other things, they intend to build a modern marina, roads and railroads, as well as the refurbishment of the airport of the city of Yeisk.
In Azov City, casinos, slot halls, betting centres and other gambling venues are to be installed, as well as four-star and five-star hotels, pubs, restaurants, sporting centres and entertainment centers.
Once the construction is created, Krasnodar region will be able to increment from USD 40,519 to USD 405,000 the annual income generated by the gambling industry.