Monday, August 08, 2022

Diamond Fortune begins construction of Selena complex

Russian investor Diamond Fortune Holdings Prim has begun construction of the hotel and entertainment complex, Selena World Resort and Casino, in Russia’s far eastern Primorye gambling zone.

According to the Primorye Territory Development Corporation, the company has already concluded the pre-construction activities and even intends to complete the construction ahead of schedule.

Diamond Fortune Holdings Prim executive director Evgenia Varakina said the company has fully completed the earthworks on its two sites in the zone, which are intended for the construction of the Selena casino complex.

"We got the necessary permits and started an active phase of work. The retaining walls are currently being constructed on the site. Everything is 95 per cent ready for the construction of a foundation ditch," she said.

Varakina also said that Selena might be completed before the deadline set by the investment agreement, according to which the project's first phase should be put into operation in 2020.

"Nevertheless, we will do our best to open Selena in 2019. The second phase is scheduled for completion in 2022," she added.

At the first stage, the Selena complex will include a 295-room hotel, a casino with at least 100 gaming tables and 500 slot machines. According to preliminary estimates by the Primorsky Territory Development Corporation, the casino will boost the regional coffers by about RUB 200 million US$3.4 million per year.

The total build-up area of ​​the complex will be more than 174,000 square meters.

Diamond Fortune is a Russian company, with some foreign investors.

Meanwhile, when built, Selena will become the third casino in the zone, while the second - Mayak operated by Cambodian casino operator Naga Corp - is expected to be completed by the end of 2018. The company is now actively carrying out construction works, according to the Primorye Territory Development Corporation's statement.

G1 Entertainment, which operates the zone’s first casino Tigre de Cristal, has submitted for approval an sketch plan of its second facility. According to the company's management, its review is expected to be held later this year.

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