The Investment Council of the Russia-controlled republic of Crimea has supported the construction project of a gambling zone on its southern coast, with a total investment of more than RUB 3 billion (US$48.4 million).
The project will be implemented by a leading investment company in Crimea and was moved forward unanimously at a December 24 meeting of Crimea’s Investment Council.
The company’s director Denis Kozorez said that the project will create more than 250 additional jobs with planned tax deductions of over RUB 1 billion to budgets of various levels over the next 10 years.
The gambling zone will include a casino, a hotel complex with apartments, restaurants, cafes, a summer theater, a cinema and concert hall, a conference hall, open areas, a network of internal automobile, bicycle and pedestrian recreational areas, places for sports, outdoor and indoor pools, a parking and transportation service area.
The construction of the project is expected to start in 2020 and completed in 2023.