RUSSIA – New casino investor in Altai gambling zone
Zolotaya Lastochka 8 goes ahead with US$46.5 million casino hotel project
Investor Zolotaya Lastochka 8, intends to go ahead with plans to construct a RUB3.5 billion (US$46.5 million) casino, in Russia’s Altai Territory to open by 2024. Gambling in the zone, called “Siberian Coin”, which has one complex- the Altai Palace Casino, has been suspended because of the measures taken on coronavirus.
According to state representatives. construction of a new casino has no impediment for coronavirus lockdown as it is a civil engineering project. The casino plans to 300 slot machines, 100 gaming tables, and a hotel.
The head of the regional department for tourism development and resort activities, Evgeny Cheshev said: “During the pandemic period, the gambling zone was suspended. This, of course, could affect the decline in the number of visits for 2020 and the volume of services provided. It is likely that many planned events by the owners will be postponed to the second half of the year. However, it is too early to predict losses and losses today. Also possible in this situation and deferred demand.”
According to financial analysts SPARK-Interfax, Zolotaya Lastochka 8 was registered as a limited company in 2015 in Barnaul, having Alexey Sakvarelidze as sole, and registering property of 30% of Alti LLC, the company that owns the Altai Palase, the only casino currently in the Siberian Coin.
The Russian government’s decision to create a gambling zone “Siberian Coin” was signed in February 2008 in the Altai region of the Altai region. The gambling area with an area of some 20,000 acres is located near the Tourist-Recreational area, Turquoise Katun.
