Mongolia revives casino plans; Sochi gets first casino operator

Mongolia is taking another stab at launching its own casino market, despite a two-decade history of failed attempts.

This week, Russia’s UlanMedia reported that Mongolia’s government was reviving legislation that would authorize a casino and racetrack near the country’s border with Buryatia, a federal subject of Russia.

There are also musings about putting casinos near the international airport of Mongolia’s capital Ulan Bator, as well as in the Zamyn-Üüd district near the southern border with China and in the Altanbulag village that lies just across the border from the Russian town of Kyakhta. Licenses would be valid for 10-year periods, with fees of MNT 20-27b (US $8.3m-$11.2m).

Mongolia has made several failed efforts to launch a casino market dating back to 1997. The latest push began last year and Australia’s Frontier Capital Group was in line to become Mongolia’s first casino licensee before backing out in February.