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. Last Updated: 07/27/2016

Harrah's Considering Resort in Azov-City

Harrah's Entertainment, the world's largest gaming company, is considering opening a resort in Azov-City, one of the four federal zones designated for gambling, said Jan Jones, the company's vice president.

"[Azov-City] has market potential and is capable of becoming an entertainment resort that will attract large numbers of people," Jones said.

Asati, a company that makes air-supported structures, won at an auction last year the right to a 10-year lease of an 18.5-hectare plot in Azov-City and planned to build a gaming complex. But going into the project, Casinos Austria, the company's partner, backed out of the deal because of the uncertain future of the gaming zone, said Alex Kogan, Asati's owner.

Asati then decided to build a resort instead of a gaming complex, Kogan said, and it found a new potential partner -- Harrah's.

"It's impossible to open a casino alone there. You need to create a resort, a region with different forms of entertainment -- shopping, attractions, hotels and concert centers. Only then can it attract enough visitors," Jones said, adding that a casino would be only part of the entertainment industry.

The Krasnodar region doesn't share Kogan's enthusiasm, however. Asati was supposed to invest 4.8 billion rubles in construction, and not one point of the agreement has been met.