In early September 2019, the Ministry of Finance of Crimea transferred papers regarding the creation of a gambling zone in Yalta to the Ministry of Finance of the Russian Federation. The gambling zone will occupy 15 hectares and be called “Zolotoy Bereg” (Golden Coast). It will be located near the village of Katsiveli.
According to the head of the Yalta Administration, Alexei Chelpanov, the construction of the zone will start in October this year. The mayor of Yalta said that the preparation of the site and demolition of the old buildings will start in September or October.
The Russian government has yet to make a decision on who will manage the gambling zone. Tourism infrastructure must also be considered.
The law on the creation of the gambling zone in Crimea was adopted by the State Duma in 2014. The precise location of the village of Katsiveli was determined in the spring of 2018. In December 2018, the Yalta City Council transferred the land from municipal to state ownership.
The head of the Republic of Crimea, Sergey Aksenov, has said that a large operator, whose name has not yet been announced, would be in charge of the project. He has also reported that casinos should start operating at the end of 2019.
According to the experts, the new gambling zone will bring up to 25 billion rubles a year to the regional budget. It will also significantly improve the tourism industry and create many jobs.