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Russia has announced plans to ease restrictions on Internet gambling while opening up Sochi and the Crimea for land-based casinos.
"The creation of a gambling zone in Crimea will attract additional investment to the region, create jobs and improve the tax base,” said Anatoly Karpov, the First Deputy Chairman of the Duma Committee.
Some $720 million could be added to the local economy with the addition of legalized gambling.
Investment is expected to be at least $100 million and could reach $1 billion.
Sochi, which recently hosted the Winter Olympics, was also given the green light to begin offering casino gambling.
Additionally, according to Russian business and politics daily Kommersant, the government was considering legalizing of online poker to help boost its economy by another $145 million annually.
- Gilbert Horowitz, Gambling911.com
