The Korston Group has a range of businesses that include hotels, entertainment centres, shopping malls, business centres and telecommunications. The Casino de Paris in Moscow, with its 60 gaming tables and over 500 slots plus its Club Napoleon VIP gaming area, may now be closed but Korston has moved beyond Russia already. Last month Anatoliy Kuznecov, president of Korston, announced that he will be opening a casino in Budva, Montenegro. At present there are two casinos in Montenegro, in Budva and Przno, but in 2007 the government decreed that a maximum of 14 could be operated.

The large casino companies that operated in Russia have moved into Latin America, parts of Europe and the Balkan states. Countries such as Croatia and Serbia have no visa restrictions for Russians and Montenegro is popular with both Russian tourists and its new Russian residents. The independent World Travel and Tourism Council has ranked Montenegro as the top-growing tourism destination in the world, with growth estimated at 10% annually through 2016. However the country’s real estate market has been associated with money laundering in a US report.

Korston already has made plans to charter wealthy Russians to its new casino in Montenegro. Budva is a small town on the coast but has been likened to Kuwait because of its many millionaires. The 4-star Queen of Montenegro Hotel was opened in 2006 and the casino has slot machines, electronic roulette and classic table games. It is believed to be the property where Korston will be investing, and a new Monte Carlo could be in the making. (E-07.02.09)

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