Russia to set up gambling zone in Sochi, home of 2014 Winter Games

Russia will allow gambling in Sochi in a bid to make continued use of the facilities that were built in the Black Sea resort for the 2014 Winter Olympics.

Russia spent $51 billion on the Winter Olympics, leaving many companies that invested in the city wondering how they were going to recoup their money.

Russia restricted gambling to several designated zones in 2009, all far away from major cities or tourist attractions.

Deputy Prime Minister Dmitry Kozak, who oversaw the preparations for the games, told Russian news agencies on Tuesday the government will decide within the next 10 days on the exact location of casinos.

He said, however, that the gambling zone could be set up at the site previously used for the Games.