Operator News
Russia – Asia-Invest gets building permit to start new casino build in Primorsky
By Phil - 7 July 2023
Asia-invest Group is set to start the build of a new casino resort in Russia’s Primorsky gambling zone in September with a view to complete 23 months later.
Phase 1 will include an eight-storey complex with 80 hotel rooms and a casino offering 30 gaming tables and 200 slots.
The news was confirmed by the Krai Development Corporation (KRPK) with construction and project management firm Asia-Invest Group, planning to invest US$34m into its development. Initial plans in October 2021 were derailed due to the COVID pandemic but on now back on track with Asia-invest Group already granted its building permit.
Alexander Kim, director of Asia-Invest Group, said: “Currently, we are negotiating with contractors for earthworks, laying engineering networks on the site and developing interior design, and the project estimate documentation is also being prepared.”
Up until 2006, the gambling business as an entertainment industry was regulated in Russia by federal laws (Chapter 29 of the Tax Code and Federal Law On Licensing of Certain Business Activities) and local legislation (applying different limitations for establishment of gambling facilities).
On July 1, 2009, the gambling business was prohibited in Russia, with the exception of five special gambling zones in the Republic of Crimea, Altay region, Krasnodar region, Primorsky region and Kaliningrad region.
The gambling zone in Primorsky region was built near the town of Artem (35km from Vladivostok), in Muravyinaya Bay.
The gambling zone in Primorye had the soft launch on October 8, 2015 [17], when Tigre de Cristal casino was opened. The grand opening was on November 11, 2015.
The second out of 12 planned hotel & entertainment complexes in Primorsky region had its grand opening on Friday, October 16, 2020. This is one of the biggest tourist investment projects in the Russian Far East, with RUB3.5bn invested in the first stage by a Russian investor. The total value of the project is estimated at RUB8bn.
Shambala casino is a four-story building built from scratch for two years in Muravyinaya Bay area, not far from Tigre de Cristal. Unlike its competition, the new building does not look like a glassed-in business center but has a more traditional appearance with the concrete exterior.
