In truth, only the most optimistic had the hope that casinos could be built in the Rostov Region of the Russian Confederation, turning inhabitable steppe into a welcoming Las Vegas called “Azov City.” The investors who saw an opportunity to build casinos there, after the Russian government closed them down in July 2010, are now looking for their investment back after the local government failed to support those enterprises.

Investors in "Azov-City" have filed six counterclaims in the Arbitration Court of the Rostov region, hoping to recover the money spent on construction in the former gambling zone from the Ministry of Economic Development. In consideration are the case of termination of lease agreements and the return of land properties.

In June 2011 the Ministry of Economic Development of Rostov region filed a court claim for termination of leases and return of the land property ownership to the region. In August, the regional Arbitration Court suspended proceedings because of the claim from LLC "PAK-Express" of Tatarstan to render invalid the decision on liquidation of the gaming zone. The Supreme Arbitration Court dismissed the claim of "PAK-Express", and the Arbitration Court resumed proceedings.

As reported in the Arbitration Court of Rostov region, to date six claims have been filed by three investors. A claim for over 2 million rubles was filed by sole proprietor Odintsov. Another four claims were filed by "PAK-Express" for a total of over 152 million rubles (the amount invested in the construction of Parus Casino), and another claim for 258 thousand rubles (about US $5 million in total) was filed by JSC "Nord West". The proceedings will take place in late November 2012. (E-01.25.12)

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