Russia to shut three Azov city casinos

The Russian government plans to shut three casinos in Azov City this year in a bid to strengthen the country’s other gaming zones.

The government will close the casinos, -- the Oracul, Shambala and Nirvana -- by April 1st, according to Russia’s state-news service Tass,

It is believed the government took the decision is to bolster the country’s other three gaming zones, including the one in Sochi, where the Summer Olympic Games were held , and in Crimea. Both regions became designated gaming zones in July .

The Ministry of Finance said it will try to soften the blow of the closures by giving the casinos about $145 million each.

Royal Time Group LLC, parent company of Oracul, stands to suffer the most following its recent investment in a five-star hotel and casino halls, according to reports.

Since opening in 2010, the three casinos have experienced strong growth, from attracting 45,000 visitors in 2010 to 254,000 visitors in 2013.

 

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