The Investment and Development Campaign Royal Time Group Opened the First Hotel in the Gambling Zone УAzov-CityФ on November 1, 2014

November 5, 2014

Commissioning of the hotel complex with a casino is being held within the large-scale campaign "Royal Time Group" on development of the gambling zone in the Shcherbinovskiy district of the Krasnodar region and creating year-round resort on its territory.

The first casino ORACUL in Russia located in the gambling zone "Azov-City" started the third stage of the gambling complex, which includes a hotel of higher level of comfort with 90 rooms of different categories, casino halls, as well as other services. The opening of the complex is an important step to becoming a territory "Azov-City" as a year-round resort and independent tourist object, which is able to stimulate the growth of the tourist flow through a quality comprehensive proposal.

Attendance rates of the gambling establishments ORACUL are consistently high and show strong growth trends. Thus, 400,000 people visited the complex by the end of 2013; more than 600,000 people visited it by the end of 2014; according to the company estimates, more than one million people will visit the complex by the end of 2015. A number of jobs provided by the gambling area after commissioning the new complex ORACUL on November 1, 2014 will be more than 2,500.

Investments in the third stage were more than 1.5 billion rubles of own and borrowed assets, while there were 800 million rubles in the first and second stages. Total investment in the complex of objects under the brand ORACUL will amount to 3.4 billion rubles in 2015. The projected total tax charges in the budgets of different levels will be about 350 million rubles at the end of 2014. In addition to starting the hotel complex, the company Royal Time Group constructs a concert and entertainment complex with a gambling component at the moment, which will be completed in the III quarter of 2015.

Reference information:

The casino ORACUL is a first casino in Russia, located in the gambling zone "Azov-City" in accordance with the Federal Law No. 244, adopted on December 20, 2006. The first stage of the gambling complex ORACUL was started on January 30, 2010, whiles the second one – on September 4, 2010 (the total area is 3,846 square meters). An inaugural ceremony of the third stage – the first hotel in the gambling zone "Azov-City" – was held on November 1, 2014. With the start of the new stage, the total area of the complex will be 11,700 square meters.

Source - Investment portal of Krasnodar region



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