The Russian city of Sochi, probably most well-known outside of Russia for having hosted the 2014 Winter Olympics, is looking to become the Monte Carlo of the Black Sea. The city has always been a keen holiday destination, but now the city is looking to re-brand itself more exclusively and attract more people.
Since 2009, gambling in casinos in Russia has been legal only in four gaming-zones, which aren't close to where the most people are. This had led to Georgian casinos to be able to boost their gaming revenues, as many Russians would go there to gamble, as no other close country offers gambling.
Sochi has received the approval to begin building and operating casinos, which ultimately will be build to create jobs and tax money, as the area desperately needs both after the huge bill for the 2014 Winter Olympics. The city will be giving away the first casino licenses shortly and it is expected that multiple operators will run a casino there.
While people commonly travel to Batumi in Georgia to gamble, the plans for Sochi are much bigger, which will ultimately lead to many of the richer clients travelling there to play casino games.