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Press Release
‘Mini Las Vegas of the Black Sea’ to host US casino investors
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UNITED KINGDOM (Aug 13) – Leading casino operators from 21 countries including the United States, will soon be heading to the little known Georgian resort of Batumi for the first Casino Investors Congress (September 4-6). The event, which is being hosted by the government of the Autonomous Republic of Georgia, is being held to attract gaming investors to the region which is offering casino licenses of just US$150,000 a year compared to US$3 million in other regions of Georgia and a ten-year licence holiday to operators building hotels with a minimum of 100 rooms.
Positioned on the Black Sea coast and nestled in the shadows of the Caucasus Mountains, Batumi is a town of nearly 200,000 inhabitants but with a giant reputation. Recently described by US Secretary of State Hilary Clinton as a ‘mini-Las Vegas of the Black Sea’ Batumi also has a rich heritage. When it was known as Colchis, Jason and his Argonauts were said to have sailed there to steal the legendary golden fleece, while a vast Roman fortress at Gonio, ornate Gothic cathedral and Ottoman mosque are monuments to its past.
More recently having spent decades as a Soviet-era industrial port, the Ajaran government is now intent on reviving Batumi's glories and transforming the town into a modern, thriving tourist destination. Having undergone a radical four-year, £350m facelift, which includes the construction of a magnificent five-mile long esplanade complete with pavilions, restaurants, bandstands and dancing fountains, as well as the development of a number of five-star hotels including the Sheraton, Radisson and Hilton, the Black Sea port is fast emerging as the region’s most fashionable resort.
Central to the town's ongoing regeneration is the gambling leisure sector. Business-friendly legislation, and the subsequent increase in casino developments, has led to a substantial growth in gambling tourism from neighbouring regions including Armenia, Azerbaijan and Turkey, which account for 78% of tourists, as well as Europe, Asia and the US (14%) and Russia (8%). Georgia’s Department of Tourism and Resorts claims the gaming industry will fuel winter tourism in the region.
Levan Varshalomidze, the Chairman of the Autonomous Republic of Ajara, explained: "Our vision is to create a vibrant, multi-faceted, cosmopolitan resort destination, with a structured, sensibly regulated casino sector firmly at the hub of Batumi's bustling leisure economy. Much has already been achieved in Batumi, which to quote Time Magazine is developing at a speed that would make China blush.”
Casino mogul Donald Trump, who is helping to develop a luxurious hotel and casino development in Batumi, hailed Varshalomidze’s ambitions, saying: "The whole world is speaking about the transformation that is underway in Georgia."
The Casino Investors Congress will provide visitors with the opportunity to take a first-hand view of the transformation and meet with the the politicians who are driving it. Joining keynote speaker Levan Varshalomidze at the event will be Dimitri Gvindadze, the Georgian Minister of Finance, Keti Bochorishvili, head of the National Investment Agency, David Kikava, head of the Ajaran Department of Tourism and Resorts, and Georgian Chamber of Commerce & Industry director, and former national Minister of Finance, Kakha Baindurashvili.
The distinguished line-up will provide a unique insight into a wide range of topics, including the government's overall short- and long-term vision for Batumi, Ajara and Georgia, the current and future framework of gambling legislation and regulation, the development of tourism in Batumi, as well as practical information on how to go about doing business in Georgia.
– End –
For more information on the Congress and to view a short film of Batumi visit www.cicbatumi.com
Positioned on the Black Sea coast and nestled in the shadows of the Caucasus Mountains, Batumi is a town of nearly 200,000 inhabitants but with a giant reputation. Recently described by US Secretary of State Hilary Clinton as a ‘mini-Las Vegas of the Black Sea’ Batumi also has a rich heritage. When it was known as Colchis, Jason and his Argonauts were said to have sailed there to steal the legendary golden fleece, while a vast Roman fortress at Gonio, ornate Gothic cathedral and Ottoman mosque are monuments to its past.
More recently having spent decades as a Soviet-era industrial port, the Ajaran government is now intent on reviving Batumi's glories and transforming the town into a modern, thriving tourist destination. Having undergone a radical four-year, £350m facelift, which includes the construction of a magnificent five-mile long esplanade complete with pavilions, restaurants, bandstands and dancing fountains, as well as the development of a number of five-star hotels including the Sheraton, Radisson and Hilton, the Black Sea port is fast emerging as the region’s most fashionable resort.
Central to the town's ongoing regeneration is the gambling leisure sector. Business-friendly legislation, and the subsequent increase in casino developments, has led to a substantial growth in gambling tourism from neighbouring regions including Armenia, Azerbaijan and Turkey, which account for 78% of tourists, as well as Europe, Asia and the US (14%) and Russia (8%). Georgia’s Department of Tourism and Resorts claims the gaming industry will fuel winter tourism in the region.
Levan Varshalomidze, the Chairman of the Autonomous Republic of Ajara, explained: "Our vision is to create a vibrant, multi-faceted, cosmopolitan resort destination, with a structured, sensibly regulated casino sector firmly at the hub of Batumi's bustling leisure economy. Much has already been achieved in Batumi, which to quote Time Magazine is developing at a speed that would make China blush.”
Casino mogul Donald Trump, who is helping to develop a luxurious hotel and casino development in Batumi, hailed Varshalomidze’s ambitions, saying: "The whole world is speaking about the transformation that is underway in Georgia."
The Casino Investors Congress will provide visitors with the opportunity to take a first-hand view of the transformation and meet with the the politicians who are driving it. Joining keynote speaker Levan Varshalomidze at the event will be Dimitri Gvindadze, the Georgian Minister of Finance, Keti Bochorishvili, head of the National Investment Agency, David Kikava, head of the Ajaran Department of Tourism and Resorts, and Georgian Chamber of Commerce & Industry director, and former national Minister of Finance, Kakha Baindurashvili.
The distinguished line-up will provide a unique insight into a wide range of topics, including the government's overall short- and long-term vision for Batumi, Ajara and Georgia, the current and future framework of gambling legislation and regulation, the development of tourism in Batumi, as well as practical information on how to go about doing business in Georgia.
– End –
For more information on the Congress and to view a short film of Batumi visit www.cicbatumi.com