Shambala estimates damage by Azov City liquidation

Maxim Smolentsev, the head of Shambala CJSC, is going to claim for damages caused by liquidation of the Azov City gambling zone from the government. His company owns two casinos here.

According​​​​​​​ to Maxim Smolentsev, complete disestablishment of the object requires a government decree, specifying a mechanism of compensation payment for residents. The Department of Property Relations of the Krasnodar Territory has requested Shambala for the estimated losses data. Experts have estimated damage at two billion rubles. This sum includes only expenses for venue construction. Lost profits and other factors influencing business financial results are not included. He does not exclude legal proceedings regarding this issue.

Maxim Smolentsev has once again addressed authorities through journalists with a request to change legislation, removing the norm regarding one gambling zone within a region. He believes that there is no point in liquidating something generating profit for the economy of Kuban and the whole country.

► Power plant will replace the casino

Meanwhile, previous week, one has found out that the Azov City territory catches the interest of the German energy company – Sowitec Group. It is going to build a wind park here. The company is going to invest fourteen billion rubles in the project.

We would like to recall that the decision regarding liquidating the gambling zone in the north of Krasnodar Territory has been accepted due to establishment of its analogue in Sochi. Azov City should fold their operations till January 1, 2019.