Saturday, March 02, 2024 - Login

Royal Time Primorye project in trouble after court ruling

A local court has upheld a decision by the Corporation of the Primorsky Territory gambling zone in Russia’s Far East to terminate a contract with the Royal Time Group over delays in the construction of its casino project.

According to Betting Business Russia, the Arbitration Court of Primorsky Territory made the decision on June 1st.

The court also orders Royal Time to pay 12,000 rubles in costs.

Royal Time began construction on its Firebird resort in March 2016, the report said. The group intended to build a resort including casinos and a five-four and three-star hotel.

The entertainment zone currently has one operating integrated resort. Summit Ascent opened its Tigre de Cristal property in 2015, while another is under construction by NagaCorp, the operator of NagaWorld in Cambodia.

Tigre de Cristal has spurred a significant increase in visitation to the zone, local officials say.

"The entertainment complex is visited by about 1000 people per day, whereas the casino operators started with 100 visitors a day. The ratio of foreign and local visitors is almost proportional, but 95 percent of the casino's revenues comes from foreign tourists," Primorye Vice Governor Evgeny Polyansky said last week.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

Contact us

PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief