NORTH ASIA 44
RUSSIA
Primorye set for next stage The development of the Primorye gambling zone in Russia’s Far East is hotting up with three new complexes scheduled to open next year and authorities stepping up their efforts to attract further investment.
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he Primorsky Krai Development five floors have already been erected at Naga Corporation and local investors Vladivostok. The operator of NagaWorld in outlined their plans for the zone, Cambodia agreed to invest about $350 million which is located near Vladivostok, in 2013 to develop a resort in the zone. It has during G2E Asia in May. The area is seen as the now established local offices and moved some most promising of Russia’s designated gambling key personnel to oversee progress. It says the property is sited on an area zones given its close proximity to northern with dual frontage and “majestic views to the China, Japan and South Korea. At present only Summit Ascent’s Tigre de sea and an inland lake flanked by two hills.” Also opening next year will be Diamond Cristal is in operation, but the second phase of development is scheduled for completion Fortune Prim’s Imperial hotel and entertainment next year with at least 12 hotel complexes with complex. It will house a casino, hotel, nightclub, casinos, as well as entertainment facilities. restaurants, shops and a SPA center with a 25-meter The total investment amounts to more than pool. The company received investment earlier this year from Japanese US$2 billion. company, Simple Create. “In 2020, the second Summit Ascent phase of the construction Investors are Executive Director of the Primorye IRC will be Eric Landheer spoke completed – the opening in the active stage about the group’s plans of new Naga Vladivostok of construction for the second phase of and Shambala complexes expansion for Tigre de will take place,” said – the first floors Cristal, which involves Primorye Corporation of new buildings significant additional Executive Director Igor have already been room capacity and new Trofimov. “Investors facilities. are in the active stage of erected. “We believe that construction – the first within four years the floors of new buildings g amb l i ng z on e i n have already been erected. Financing in the amount of RUB2.9 billion under Primorye will already be transformed into the program initiated by the Federal Agency for a full-fledged resort due to the opening of Tourism will be directed to the construction of new complexes, including our company’s the transport engineering infrastructure,” he said. plans to implement the“ Tigre de Cristal “We are interested in new investors. Today Phase 2,” he said. “Additionally, our plans include the creation of there are two free land lots for the construction of hotels and casinos, [and] work is underway eight guest villas and 22 buildings for residential to expand the possibilities of the non-gaming apartments. We plan to increase the number of entertainment segment – the resort concept rooms to at least 350, which is three times the includes not only a gaming zone but also number of rooms in the current Tigre de Cristal.” The project provides 25 gaming tables for mass provides entertainment for family and youth recreation, such as an amusement park or water players and about 300 slot machines, as well as 50 gaming tables for VIP guests,” said Landheer. park,” he added. Some adjustments will be made to the NagaCorp Chairman Tim McNally said that
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Asia Gaming Briefings | August 2019
previously conceived “Tigre de Cristal Phase 2” after the acquisition of a stake by Macau’s Suncity Group. The approximate opening date of the new complex “Tigre de Cristal Phase 2” is scheduled for 2021. Meanwhile, authorities in Russia’s northernmost region of Kaliningrad have given the approval to hold land auctions for about 80 hectares of the Yantarnaya gambling zone, which was previously transferred to a single investor, local media reports. According to a speech by regional deputy Alexander Nikulin to the local parliament, the authorities are currently clearing 80 hectares of land to be leased out and intend to leave the existing investor with only 10 hectares. “There are people who are ready to come to these sites, but, unfortunately, the land lot was completely at the disposal of one participant, and, accordingly, this limited the ability of other participants to get there and build casinos… There are about 90 hectares of the zone. Out of this territory, we have about 10 hectares left in use by the participant who won and built the facilities, and about 80 hectares will be cleared so they can be used,” Nikulin said.
