Crimea in talks with major investor

Saturday 15th of October 2016

The Crimean government is currently in talks with a major investor for its future gambling zone, Betting Business Russia reports, citing a source close to the negotiation process.

According to the publication, the unidentified investor plans to invest up to $150 million in its development.

"There is a major investor who is willing to invest in the project from $120 million to $150 million. He intends to rent all the areas allocated for the gaming zone to sublet them to other investors wishing to participate in the project," the source was quoted as saying.

The source also added that the investor's core activity is in construction.

A total of four investors have expressed the desire to take part in the development of the gambling zone. Three of them are registered in Moscow, and another one has "Spanish roots", notes the news outlet.

Earlier another Russian publication suggested that SJM Holdings and Summit Ascent Holdings may invest in the Crimean gaming zone, citing a high-profile source in the Russian-Chinese business circle, but the latter denied these rumours.

Bricks & Mortar Investment Investor Crimea Government Crimea Gaming Zone