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Moscow May Get New Casino

MOSCOW – As reported by the Moscow Times: "Sindica, a holding company that operates a number of markets around the city, has bought the Moskvichka shopping center on Novy Arbat, one of Moscow's oldest and most famous retail complexes.

"Experts say it may be converted into a casino, as the Novy Arbat area is acquiring a reputation as an entertainment district.

"…The exact amount of the deal has not been disclosed, but Yulia Nikulicheva, associate director at Jones Lang LaSalle, said it should be worth between $18 million and $20 million. Other market players put the figure lower, at between $15 million and $18 million.

"Moskvichka is part of one of the skyscrapers on Novy Arbat, formerly known as Kalininsky Prospekt, designed by Soviet architect Mikhail Posokhin in the 1960s. It has been a department store since it first opened more than 30 years ago.

"…Moskvichka is next door to the Korona casino and just 100 meters away from the Metelitsa entertainment center, one of the largest in Moscow, which includes a nightclub, casino and a sports bar that accepts bets…"

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