Casino to Rise in Crocus City, Russia
Publishing and Broadcasting Limited has inked a deal with the Crocus Group of Russia to run a casino and hotel at Crocus City on the north side of Moscow.
The Publishing and Broadcasting Limited would be the first non Russian operator of a casino in Russia.
The casino will be more than twenty four thousand square meters and the hotel will be eight hundred sixty thousand square feet are part of the building development that will multiply the size of Crocus City.
Projects include sixteen movie theaters, a mooring yacht terminal, a helipad and office building.
The Publishing and Broadcasting Ltd also owns the Perth's Burswood and the Melbourne's Crown in Australia.
The company also has casino projects in Macau, the Crown Macau Casino is slated to open on April of 2007 and the City of Dreams casino project will open in 2008.
James Packer, son of media magnate and international mogul, Kerry Packer, who passed away last December, chairs Publishing and Broadcast Ltd.
The controlling stake of the Packer family is through the Consolidated Press Holdings which as reportedly behind the casino deal on Crocus City rather than the Publishing and Broadcasting Ltd.
But Publishing and Broadcasting Ltd. still has to wait until the legal implications of gambling in Russia are all cleared up.
Gambling laws that will regulate gambling has yet to be enacted in Russia.
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