After a nearly two-year delay, construction is finally scheduled for the $34 million hotel and casino in the Primorye gambling zone in Russia.
The project was originally announced in October 2021 with an investment of up to US$34 million, but due to the pandemic, it was delayed. However, it has now been resurrected, and the construction is set to begin in September.
The Primorsky Krai Development Corporation (KRPK) is overseeing the development of the hotel and casino complex, which will be an eight-story building with 80 hotel rooms. According to Asia-Invest Group LLC, the casino will have 30 gaming tables and 200 slot machines. The first stage of this development is due for completion by August 20, 2025.
Alexander Kim, director of Asia-Invest Group, told Inside Asian Gaming that the project is ready to move forward.
“Currently, we are negotiating with contractors for earthworks, laying engineering networks on the site and developing interior design, and the project estimate documentation is also being prepared,” Kim said.
Last year, two larger developments in Vladivostok—one by NagaCorp and an expansion project by Tigre de Cristal owner Summit Ascent—were put on hold due to the uncertainty around the COVID-19 pandemic and the economic impact of the Russia-Ukraine war.
There has been a boost in visitors to the area, according to the Development Corporation of Primorsky Region JSC, which stated the news on its official website.
According to the government agency, the Primorye gambling zone welcomed more than 146,000 visitors in the first three months of 2023, up by 36.0 percent year-on-year.
The visitor tally increased by 24.6 percent compared to the October to December 2022 period. The quarterly figure represented an average of about 48,690 visitors per month during the first quarter of 2023, with the highest monthly tally— a total of 53,322 arrivals—recorded in March.
Of the visitors to the Primorye gambling zone in the first quarter, approximately 11 percent were identified as foreign tourists. They were mainly from Uzbekistan (3,783 visitor arrivals) and China (2,859). Other significant markets for foreign visitors included Japan, India and Vietnam.
