Las Vegas is the epitome of the wealth and success that a gambling Mecca can create. With 19 of the world’s 25 largest luxury hotels, and a total of 124,270 hotel rooms accommodating the 36.7 million annual visitors, it is no wonder that other states and countries look on enviably and want to emulate its success.
Now Russian plans to build its own Las Vegas city - in Siberia. This Last Vegas East will be called the “Siberian Coin” and the proposed site is near the border with China, perhaps the only positive thing going for it, as the Chinese are notorious gamblers.
The planning of a casino in Russia seems to fly in the face of earlier edicts by President Vladimir Putin. He banned casinos in all major cities in Russia in 2009, allowing gambling only in four remote regions, one of which is Siberia. That move was estimated to cost Russia half a million jobs and $1billion in tax revenues. Perhaps he’s having to rethink his hasty decision, which he insisted was to tackle the growing problems of gambling addiction and money laundering which went on within the industry.
Businessweek estimates this audacious new project will cost around $50 billion which will include 15 casinos and 30 hotels. But, will luxury hotels be lured to this risky venture or will they stick with what they are sure of? Certainly the sunny desert climate, infrastructure and available workforce in Las Vegas make the investment in a luxury hotel there far less risky. And currently Siberia is a very long train ride from anywhere.
by Gillian at Luxique Luxury Hotels