Primorsky authorities, investors outline plans for gambling zone

Friday 31st of May 2019

The Primorsky Krai Development Corporation and local investors outlined plans for the Primorye gambling zone during G2E Asia 2019, which was held last week.

In 2020, the second phase of the Primorye project - a large-scale entertainment resort is due to be completed in the Muravyinaya Bay. At least 12 hotel complexes with casinos, as well as entertainment facilities have been planned, with a total investment amounting to more than US$2 billion.

Primorye Corporation executive director Igor Trofimov noted that, as early as next year, there will be three entertainment facilities in the area, including the already established Tigre de Cristal.

“In 2020, the second phase of the construction of the Primorye IRC will be completed - the opening of two new Naga Vladivostok and Shambala complexes will take place. Investors are in the active stage of construction - the first floors of new buildings have already been erected. Financing in the amount of RUB 2.9 billion under the program initiated by the Federal Agency for Tourism will be directed to the construction of the transport engineering infrastructure,”, said Trofimov.

“We are interested in new investors. Today there are two free land lots for the construction of hotels and casinos, [and] work is underway to expand the possibilities of the non-gaming entertainment segment - the resort concept includes not only a gaming zone but also provides entertainment for family and youth recreation, such as an amusement park or water park,” he added.

Chairman of the board of directors of Naga Corp. Ltd. Tim McNally, in turn, said that five floors had already been erected at Naga Vladivostok.

The executive director of Summit Ascent Holdings Ltd. Eric Landheer talked about the company's new plans for the development of entertainment facilities for the second phase of the Tigre de Cristal complex.

“We believe that within four years the gambling zone in Primorye will already be transformed into a full-fledged resort due to the opening of new complexes, including our company plans to implement the“ Tigre de Cristal Phase 2.” Additionally, our plans include the creation of eight guest villas and 22 buildings for residential apartments. We plan to increase the number of rooms to at least 350, which is three times the number of rooms in the current Tigre de Cristal. The project provides 25 gaming tables for mass players and about 300 slot machines, as well as 50 gaming tables for VIP guests,” said Landheer.

According to him, some adjustments will be made to the previously developed project “Tigre de Cristal Phase 2” due to the fact that Summit Ascent Holdings Ltd. shares were acquired by Hong Kong company Suncity Group.

“Suncity Group joining the project is an important step for the development of the company's business. In Macau, the company accounts for more than 45 percent of the business of developing the segment of premium players - it is the largest junket operator in Asia and, one might say, in the world. Cooperation with such companies greatly helps the development of hotel and casino management activities,” said the Tigre de Cristal representative.

The approximate opening date of the new complex “Tigre de Cristal Phase 2” is scheduled for 2021.

In 2020, the Imperial hotel and entertainment complex, which is being built by the Diamond Fortune company, is also expected to be open in Primorye. It will house a casino, hotel, night club, restaurants, shops and a SPA center with a 25-meter pool.