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MOSCOW — Russia's grandiose scheme to build a Las Vegas from scratch in 18 months is turning into a sour bet because of the sinking global economy.
The plan calls for shutting down dozens of casinos in Moscow and St. Petersburg by July 1 and moving big-city gambling to four far-flung reaches of Russia, including building an entire new city along the Azov Sea.
"It's just not going anywhere fast," says Joseph Weinert of Spectrum Gaming Group, a U.S. firm that advised on developing one of the resorts. "The clock is ticking, and as far as we can tell there is going to be no gambling in these (planned resorts) come July 1."
http://www.usatoday.com/money/world/2008-11-03-russia_N.htm |
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