Russian gaming investor Diamond Fortune Holding Prim has released details of its plan for its $250 million Imperial casino, which is scheduled to open in late 2020. According to Asia Gaming Brief, the development in the Primorye casino zone, near the Black Sea port city of Vladivostok, will feature “an eclectic Russian architectural style.”
Imperial was formerly known as Selena. It will become the fourth facility to break ground in the special economic zone, together with Tigre de Cristal, Naga Vladivostok, and Shambala.
The resort will include a hotel of at least 360 rooms and a casino with 50 gaming tables 300 slot machines and rooms for mass, premium-mass and VIP players.
According to the current tax rates, Imperial is expected to bring at least RUB100 million rubles (US$2 million) to the regional budget from gambling activities.
Diamond Fortune CEO Alexander Mishkitblit said Imperial “reflects well the tourist idea of the region, the brand of Primorsky Territory and Vladivostok—a European city in Asia, rich in traditions and famous for the cultural heritage of Russia.
“In developing the new project, the company relied on international experience, as well as on the indicators of gambling zones already operating in Russia, including its coastal colleagues.”
Konstantin Shestakov, head of the Primorye Territory Tourism Department, says he expects a continued influx of tourists from South Korea and China to the zone; together they make up about 35 percent of visitors to Tigre de Cristal. A project of Summit Ascent Holdings, Tigre de Cristal remains the only operational casino resort in the zone; it opened in October 2015.
“This year, according to the results of the first quarter, we see an increase of 134 percent and we expect that by the end of the year it will be on a par with the flow of tourists from China, which 400,000 people,” said Shestakov. “The main reason for the growth was that Korean airlines started to operate in Primorye, as a result of which prices dropped, with up to 77 flights to Korea happening on a weekly basis.”
Shestakov said two South Korea firms, International Inc. and Ramid Hotels & Resorts are planning to invest in the zone as well. They “have not signed investment agreements with us yet, but they don’t abandon their plans, as far as we know,” he said. “The fact is that Korean investors have seen that they can find their client here, whom they know, understand how to work with him.”
