Setting Up Kaliningrad Gaming Zone Will Cost RUR 270.9 bln
OREANDA-NEWS. May 7, 2008. Setting up Kaliningrad tourist and recreation zone with a gaming segment, named “Yantarnaya”, will cost 270.9 billion rubles. Such an amount is given in the feasibility study for the project submitted to the RF Ministry of Finance by the regional government.
Be reminded that in January 2008, the RF government decree stated that Kaliningrad “Las Vegas” would be allotted an area of 480 hectares on the Baltic Sea coast near the village of Yantarny. American company Ide Attack was commissioned with the development of its concept, having experience in designing similar “gambling havens” in the USA, UAE and other Eastern countries.
It is supposed that the federal budget will incur only the expenses on creating the infrastructure, which will account for about 14% of the overall amount of expenses, and the rest will be sourced from the investors – gambling operators. It is planned to attract foreigners there mainly not by casinos but by the developed entertainment industry, including hotels, aqua parks, a theater and concert halls, sports facilities, discos, SPAs and retail. The implementation of the great project is expected to create about 20 thousand of new employment opportunities.