Siberian Coin: Latest News of the Gambling Zone

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Today only one entertainment complex, Altai Palace, operates in Siberian Coin gambling zone, located in the Altai Territory. The official website reports that it includes a casino, a four-star hotel with rooms of different categories, a restaurant, a nightclub, a pub, karaoke, a billiard room, a gym, and other locations.

According to data on the official Vkontakte page, the gambling facility offers 12 play tables, 2 electronic roulettes, American roulette and Club poker tables, as well as 133 slot machines from different manufacturers.

What new facilities are built in Siberian Coin? What impact have the restrictions introduced due to coronavirus pandemic on the operation of the zone? Read about these and other timely news of the gambling zone in the article.

Altai Palace’s revenue in 2019

Referring to the statement of Domein LLC, Login Casino online portal reports that Altai Palace’s revenue amounted to 287 million rubles in 2019. This figure is 2.9 times less than in 2018.

Interfax news agency states that around 140,000 people visited the Altai gambling zone last year.

In its turn, Rossiyskaya Gazeta informs that the casino brought around 300 million in tax revenue over 5 years of operation.

Construction of the new entertainment complex

In January of 2020, it was reported on the website of Rossiyskaya Gazeta that construction of the new casino complex in the Altai gambling zone should start this year.

According to data published on the official website of the Altai Territory, the authority responsible for the development of resorts and tourism in the region signed an agreement with Zolotaya Lastochka 8 back in 2019. The agreement envisages realization of an investment project on the territory of Siberian Coin, implying the construction of a multifunctional casino complex.

The new facility should open until 2024. The plans are to invest at least 3.6 billion rubles in it. Operation of the second complex will allow attracting investments to the region and creating over 300 workplaces.

Project realization will consist of three stages. The first one is scheduled for 2020 and involves construction of a hall designed for 300 slot machines and 10 play tables. The second stage envisages construction of a hotel under the franchise of the international brand in the period from 2021 to 2023. The planned area of the hotel complex is 10,000 sq.m, the number of rooms – 150. The final stage involves construction of a lounge zone and casino with the total area of 5,000 sq.m.

Two land lots with the area of 9.5 ha have been already leased out to the investor. Investment portal of Altai Territory informs that no auction was organized.

In April of 2020, Interfax news agency referred to the representative of the regional authority reporting that the coronavirus pandemic would not affect the plans to realize the investment project and the construction of the facility would start in May of 2020.

In July, the investment portal of Altai Territory reported about the start of construction of the new entertainment complex in Siberian Coin. It was also informed that earthwork was being done on site. Opening of the slot machine hall is planned for the end of this year.

Financing of tourism development in Altai Territory

Around 1.8 billion rubles will be allocated to the development of the tourism industry in the next 5 years. This sum is specified in the new regional program, which is expected to be fulfilled by 2024, Login Casino informs.

In 2019, the volume of tourism services increased by 13.8% reaching over 5 billion rubles. Besides, the tourism industry paid 1.4 billion rubles to the budget. According to data of politsib.ru, around 600 million rubles went to the region’s budget.

Impact of the pandemic on the gambling zone

Coronavirus pandemic and high speed of its distribution affected all business areas, including gambling.

On March 26, regional resource altapress.ru reported that Siberian Coin would not shut down due to coronavirus. Representatives of Altai Palace stated, “Siberian Vegas worked, works, and will work.”

However, on March 27, the press service of the gambling zone said that casino halls would halt operations, all public events would be cancelled, and only the hotel of Altai Palace would keep welcoming guests.

On April 5, the situation changed again. Representatives of the gambling and entertainment complex informed about the shutdown of Altai Palace hotel until the further decrees of the Russian government.

The statement of the head of the regional department for the development of tourism and resort activities Yevgeny Deshevykh, published by Interfax, said that the shutdown of the gambling zone due to coronavirus pandemic could lead to the decrease in the number of its visitors in 2020 and reduction in the volume of provided services. Under these circumstances, many events that were supposed to take place in Siberian Coin will be postponed until the second half of the year. However, the representative of the authority stated that it was too early to make forecasts concerning possible losses.

On June 19, Altai Palace posted on their Instagram page about the plans to reopen the hotel and casino on June 22. The admission to the gambling facility is possible only in facemasks. As for August 7, 2020, the casino is working.