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Russia Considering Creation of Gambling Zone in Crimea

Russia Considering Creation of Gambling Zone in Crimea

Having taken control of Crimea, the Kremlin is now considering the possibility of creating a “gambling zone” inside the territory. It has been reported that Russia’s Deputy Prime Minister, Dmitry Kozak, held talks about the creation of a gambling zone during a meeting held on March 21st.

It is also rumored that Russia’s Prime Minister, Dmitry Medvedev, has also been working on a plan focusing on costs and estimated revenues that would result from a gambling zone in Crimea. The plan is reportedly due on the Prime Minister’s desk by April 15th.

While gambling was made illegal in Russia in 2009, the country decided to create four different “gambling zones” in the regions of Krasnodar, Kaliningrad, Altai and Vladivostok. However, the project didn’t meet its goals; the only active gambling zone is in Krasnodar. Now the government is giving it a second try and is considering creating gambling zones in both Crimea and Sochi.

At present the Russian president, Vladimir Putin, and the Prime Minister are trying to find ways to explore the financial possibilities of the Crimean Peninsula in order that its entrance to the Russian Federation will not challenge the country’s finances.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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