China has Macau, the USA has Las Vegas, and the Russians are opening a gambling zone in East Russia. According to the latest news from the industry, the Russians have scheduled 11 casinos to open by 2023 in the Primorye region of far East Russia.
The Investment
Reportedly, the Russians are investing $1.2 billion in development of their gambling zone near Vladivostok. You can check out how this project was envisioned, at this link.
Although primarily the Russian project, the investment comes from seven regions. The main foreign investor is NagaCorp, a Cambodian gaming company, and one of the most profitable companies of its kind. Namely, NagaCorp operates Phnom Penh casino complex and will continue to do so until 2065. Additionally, the company also holds a 41-year monopoly in gambling within 200km radius surrounding Phnom Pehn. This monopoly should end in 2035.
NagaCorp is obviously making long-term deals. They entered the Russian gambling region project with a clear vision to open Naga Casino as soon as possible. The works in the Vladivostok region have been put on hold for some time, due to archaeological excavations. However, the project has again been announced and we eagerly expect to see the outcome.
Selena Casino, as part of the Diamond Fortune Casino is also on the list of the upcoming openings in Primorye Gambling Zone.
“We have entered the final stage of constructing two new entertainment complexes with casinos in the gambling zone. An investor from Cambodia is completing an 11-story hotel with a casino and a concert hall, while a Russian investor, Shambhala CJSC, will launch its casino tentatively in March 2020. Workers are already finishing the building.” – Konstantin Shestakov, Primorye Vice Governor recently stated.
Has Primorye Gambling Zone Opened Its Door?
So far, one casino has been operating at this complex. Tigre de Complex c/o Summit Ascent Holdings opened its door to players. This casino is currently doing well, as it has no real competition.
Nevertheless, the company behind the project hopes to see all casinos eventually operating successfully and providing top notch service, as the target audience is quite wide. Primorye hopes to host at least 8 million visitors a year.
Apart from casinos, the complex should include exhibition and entertainment halls, aqua parks, clubs, ski slopes, beaches, restaurants, hotels, etc.
Primorye region aims for tourists coming from China and Japan. You may not know this, but Russia prides itself with 4 gambling regions already: Altai, Krasnodar, Kaliningrad and Primorsky. Again, majority of foreign tourists come from Japan.
Would you like to visit Primorye gambling zone?
