Russia in gaming push with $2.0 billion investment in Far East

Russian is hoping to secure a slice of the lucrative gaming market in Asia and the Far East with a more than $2.0 billion investment in the eastern region of Primorye.

The region, centered around the port city Vladivostok, had been considered for development in 2009, but the plans had stalled.

Overseas investors are reported to have signed a $1.4 billion agreement with the regional government including Cambodia-based Naga Corp, and the Hong Kong-based Melco International Development. A further $799 million is being sourced from the Royal Time Group and The First Gambling Company.

The plans for the Primorye gaming zone include construction of 16 hotel casino complexes on 620 hectares as well as a marina and yacht club.

Currently, in Siberia, “The Siberian Coin”, part of the new Altai Palace Hotel Resort, is due to open in April, according to Russian media. The resort hopes to create hundreds of jobs and lure in travelers from the region.

CEO of The First Gambling Company, John Wang, plans to launch a four storey hotel and gaming rooms in May 2015.

The Primorye zone is located just 50 kilometers from Vladivostok, and hopes to drawn in Russian and Chinese gamblers in particular who may be seeking an alternative venue to Macau.                             

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