PBL to Manage Moscow Casino - Sunday 30th of April 2006

MOSCOW – As reported by Hotels Magazine: "Australia's Publishing and Broadcasting Ltd (PBL) has signed an agreement with Russia's Crocus Group and is expected to manage a casino and a hotel in Moscow, said Emin Agalarov, one of owners of Crocus Group, Russian business daily Vedomosti reported Friday. Crocus Group is building the 24.300 square meter casino and the about 80,000-square-meter hotel at the Crocus City Mall at the intersection of the Moscow ring road and Volokolamskoye highway, Agalarov said.

"…However, the agreement between PBL and Crocus Group was confirmed by Sergei Riabokobylko, managing director of Cushman&Wakefield Stiles&Riabokobylko real estate company, which consulted the companies on the project, the daily reported. PBL will be the first foreign company managing a casino in Russia, Riabokobylko said.

"However, PBL may wait until the legislation regulating gambling business in Russia is clarified, said Lavrentiy Gubin, spokesman for the Netherlands-based Storm International B.V. company, that manages casinos in Moscow, the daily said…"

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