The Primorsky Territory Development Corp. says a “major Russian investor” has pledged to invest at least 10.5 billion rubles (US$142 million) to build a casino and entertainment complex in the Primorye gambling zone near Vladivostok. Officials declined to name the investor.
“The new resident chose one of the best-located sites—on a hill, practically at the entrance to the gambling zone,” said Olga Sun-zhayu, general director of the development corporation. “In total, about 14 hectares (35 acres) are intended for construction. The company plans to create high-class entertainment facilities, using the rich experience of implementing such projects throughout Russia. Soon the investor will tell you more about his plans.”
The project will include at least 300 luxury hotel rooms, reported Asia Gaming Brief, and a casino with “at least 500 units of gaming equipment.”
Investment Agency Director Igor Trofimov said the economic zone has been a model of foreign and Russian cooperation in the development of the Primorsky Territory.
“The total volume of investments in the gambling zone over the past 8 years amounted to almost 21 billion rubles, more than half of which are investments of private foreign companies,” he said. “It is important that the existing residents are already full participants in the regional tourism market, therefore, in the future, they are interested in developing not only gambling establishments, but also the tourism and entertainment sector as a whole.”
The Primorye gambling zone is currently home to Summit Ascent Holdings’ Tigre de Cristal and Shambhala, which is owned by a Russian businessman. NagaCorp, operator of Cambodia’s NagaWorld, is currently building a casino resort, as are Russian companies Diamond Fortune and Primorye Gaming Group., reported AGB.
Ultimately, a dozen casinos could occupy the zone, with casinos that could attract players from throughout Asia.
