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Russia – Nagacorp breaks ground on Primorye project

By - 8 July 2015

Cambodian-based operator NagaCorp has started construction work on its casino resort in the Entertainment Zone of the Primorye Region in Russia’s Far East for a project which it is believed will be called Seaside Entertainment Resorts City.

A ground breaking ceremony was held at the site, near the port of Vladivostok, which was attended by NagaCorp President Tan Sri Dr Chen Lip Keong, as well as First Vice-Governor of the Primorsky Territory, Basil Usoltsev. The resort will be built in three phases, with the first phase seeing an investment of up to US$200m. It has been designed by Las Vegas casino architects, Steelman Partners.
NagaCorp has said the resort will house 100 gaming tables, 500 slots, a 2,000 capacity theatre and a spa.

NagaCorp said: “We expect that the PERC project will commence operation not later than 2018.The group believes that its strategy of diversifying its business geographically and expanding into a new casino market will drive revenue growth in the long term.”

Four operators have so far received the green light to develop gaming resorts in the Russian gambling zone.

Diamond Fortune Holdings Prim is building a US$914m five-star hotel, casino and entertainment complex to be called Selena World Resort & Casino. Diamond Fortune CEO George Kondakov said the first phase would cover about 10 hectares.

The First Gambling Company of the East, a subsidiary of Summit Ascent Holdings, which includes Macau’s Lawrence Ho, is developing a project called Tigre de Cristal. It is expected to open with 119 hotel rooms, 800 slots, 25 VIP gaming tables, 15 mass-market baccarat tables and 25 mass-market tables providing other table games.

Royal Time meanwhile is looking to open its first phase by 2017. Designed by Steelman Partners it will include a 320 room hotel with a casino. Rashid Taimasov, Director General of Royal Time, said the third and final stage should be completed by 2021.

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