Crimea’s authorities have already raised a sum of $1.5 billion on the construction of a gambling zone on the peninsula, Crimea’s vice-Prime Minister Rustam Temirgaliyev said in an interview with the Izvestia newspaper published on Wednesday.

“We plan to create a round-the-year resort. We have received a large number of offers from the most recognized global brands to take part in this project”- Temirgaliev said, according to ITAR-TASS.

According to vice-Premier it is planned to build this zone in Crimea’s southern coast.

The final decision will be taken after the State Duma passes a law on the establishment of a gambling zone in Crimea. The relevant bill was submitted by Russian President Vladimir Putin on April 21, 2014.

Currently, four Russian constituent regions - the Altai, Primorsky and Krasnodar Territories, and the Kaliningrad region - have official licenses on gambling zones.