The Arbitration Court of Tatarstan declared the former CEO of Royal Time Group LLC Rashid Taymasov bankrupt. Rashid Taymasov is one of the founders of Azov City.
Royal Time Group LLC is one of two gambling operators in Russian gambling zone “Azov City”. Currently, Taimasov does not manage LLC Royal Time Group. However, he remains the owner and CEO of Gaming Construction LLC, Royal Development, Royal Time Management and Uni Management.
As for today, Azov-City hosts two operators: Royal Time Group and Shambala. Royal Time Group has built three casinos there with a total area of 11,700 square meters and a hotel with 90 rooms. Shambala operates three casinos in Azov City.
In July 2014 Russian Parliament adopted amendments to the Gambling Law that allowed creation of gambling zones in the Crimea and Sochi. This raised the question of the existence of Azov-City, since according to Russian legislation only one gambling zone can be located in each region. On August 10, 2016 Prime Minister of Russia Dmitry Medvedev signed a decree establishing gambling zone Krasnaya Polyana.
As a result, Azov-City gaming zone should be closed before December 31, 2018, despite the fact that the number of its visitors continues to grow.