The Crimean Parliament’s head, Vladimir Konstantinov, just announced that the plans to construct a gambling zone in Crimea are still in place. In an interview with RIA Novosti, Konstantinov also noted that the main investors have been identified.

Crimea was annexed by Russia in 2014, sparking a conflict with Ukraine. The war, which would escalate with Russia’s invasion in 2022, has been raging on ever since. Yet, the plans to create a gambling zone that would spark tourism in Crimea seem to be in place, according to the local parliament’s head.

For context, the plans outline the construction of a gambling zone on the southern coast of the peninsula, in the village of Katsiveli near Yalta. Originally planned to begin in 2021, construction of the project was postponed amid the complex geopolitical situation.

The so-called Golden Coast gambling zone is set to occupy the site of an unfinished sanatorium. Previously owned by the Yalta Municipality, the site was eventually handed to the government. The Infrastructure Project Management Company, a local investment firm, was planning to take on the project.

The Project Will Continue Once the Situation Allows It

Konstantinov was firm that the project is still well and alive. He said that “nothing bad” had happened to it and that the main participants had been identified.

The head described the interested parties as well-known organizations in the Russian Federation. He said that the investors in question have the necessary experience but added that the project is still facing certain setbacks because of the ongoing war and the lack of air traffic.

Konstantinov added that Crimea is ready to begin work on the project once the situation calms down and air traffic resumes. In his interview with RIA Novosti, the Crimean Parliament’s head added that the gambling operation would be profitable and would attract foreign tourists, enhancing the local economy.

Speaking of Russia and Ukraine, the latter country recently dismissed claims of Zelensky’s alleged casino purchase in Cyprus. Labeling the claims as Russian misinformation and efforts to tarnish Ukraine’s reputation, the Embassy of Ukraine in Cyprus promised that the transaction was a lie.

In the meantime, MND, which owns Moravia Gas Storage, decided to purchase its remaining stake from Russian energy giant Gazprom. This means that KKGC, MND and Allwyn’s parent company, no longer has ties with Russia.

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The Primorsky Krai Development Corporation or KRPK, the Russian company tasked with the development of the Primorye gambling zone, has confirmed that work can start in September.

The construction will also be overseen by Asia-Invest Group LLC which has already committed $34 million but could not execute plans any earlier due to the COVID-19 pandemic, Asgam, a media focusing on the Asian gambling industry reported.

Project Finally Cleared and Taking Shape after COVID-19 Delays

A building permit has finally been obtained, allowing the project to move forward with the first stage of the project to be completed on August 20, 2025. Asia-Invest Group director Alexander Kim:

Currently, we are negotiating with contractors for earthworks, laying engineering networks on the site and developing interior design, and the project estimate documentation is also being prepared.

Asia-Invest Group director Alexander Kim

The project will begin with a main structure which will be completed by March 2, 2024, and the casino should be live along with that. The casino itself has not yet been approved, but the group confirmed that it’s expecting the documentation to be finalized.

This way, the casino should be getting at least 200 slot machines and 30 gaming tables, to begin with. No further plans for the expansion of the property have been revealed as of right now.

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